Announcements - Page 14
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10.06.16
16-38: Address Change – Hazard and Flood Insurance Mortg...
Effective immediately, PennyMac’s mortgagee clause has been changed.
10.04.16
16-37: Hours of Operation for Columbus Day and Veterans ...
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:
10.02.16
16-36: New 203(k) Fee Structure and Multiple Updates to ...
Effective for all FHA 203(k) commitments taken on or after Monday, October 10th, 2016, PennyMac is implementing an update to the fee schedule for A...
09.26.16
16-35: Funding for USDA Rural Housing 2017 Fiscal Year
Per the Fiscal Year 2017 Commitment Notice released September 22, 2016, funding for the USDA Rural Housing Loan Program will not be available for ...
09.21.16
16-34: Reminder FNMA SEL 2016-04 Student Loan Payment Ca...
PennyMac continues to see transactions where student loan payments are not calculated correctly. As a reminder, on conforming DU approved transac...
09.09.16
16-33: Update to GSE ARM Notes and Riders
Effective with ARM Notes issued on or after October 1, 2016, PennyMac is aligning with Fannie Mae and Freddie Mac and will be requiring the use of...
09.02.16
16-32: FHA ML 2016-11 and VA Circular 26-16-18: PACE Ass...
Effective immediately, PennyMac is aligning with FHA and VA’s guidelines regarding properties with outstanding PACE loans.
08.29.16
16-31: Hours of Operation for Labor Day Holiday
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:
08.16.16
16-30: Disaster Policy Implementation: Louisiana Severe S...
FEMA has recently declared 12 parishes in Louisiana as eligible for Individual Assistance due to severe storms and flooding. In accordance with P...
08.10.16
16-29: Updates to Conventional and Government LLPA tabs o...
Effective for all commitments taken on or after Monday, August 22nd , 2016, PennyMac is implementing updates to values in the ‘Conv LLPAs’ and ‘Go...
07.24.16
16-28: Technical Issue - Access to PennyMac Correspondent...
Over the weekend, a technology update was released to the PennyMac Correspondent Portal. No client facing changes were implemented; however, users...
07.22.16
16-27: Removal of Mandatory Forward Delivery Method
PennyMac is removing the Mandatory Forward delivery method from its offering of commitment types. Best Effort, AOT/DT and Bulk will NOT be affect...
07.14.16
16-26: Trailing Document Invoice Policy Reminder
This announcement is intended to serve as a reminder of PennyMac’s trailing document policy as well as to share best practices for managing traili...
07.08.16
16-25: FNMA SEL 2016-04 and 2016-05: Various Updates
PennyMac is aligning with the updates announced by Fannie Mae in SEL 2016-04 and 2016-05, including but not limited to the following:
06.30.16
16-24: Employment Beginning After Close Allowed on Confor...
Effective immediately, PennyMac is pleased to announce that borrowers may begin employment after close on conforming DU transactions, in accordanc...