Announcements - Page 14
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17-25: Student Loan Refinance Program and ARM LTV Increases
PennyMac is pleased to announce that the cash-out LLPA can now be waived on loans using Fannie Mae's Student Refinance program. In addition, P...
17-24: Uniform Closing Dataset Requirements
PennyMac will require that Correspondents submit Uniform Closing Dataset (UCD) files to both GSEs and provide evidence of a successful submission ...
17-23: FHLMC Bulletin 2017-7 and 2017-8
PennyMac is aligning with the updates announced in Freddie Mac Bulletins 2017-7 and 2017-8.
17-22: Payment and Amort Policy Update
Beginning in July, PennyMac is updating the Principal Balance Purchased - Payment Amortization Policy.
17-21: Hours of Operation for 4th of July Holiday 2017
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options for the 4th of July Holiday 2017.
17-20: Revised Sample Rate Sheets for HomeReady and Home ...
PennyMac has made revisions to the sample rates sheets in relation to the previous announcement 17-19 pertaining to Fannie Mae’s HomeReady and Fre...
17-19: Release of HomeReady, Home Possible Programs and 7...
PennyMac is pleased to announce the release of Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs along with expansion of the Best Ef...
17-18: FNMA SEL 2017-04 Student Loan Updates
Effective immediately PennyMac is pleased to announce alignment with the following topics from Fannie Mae’s recent announcement SEL 2017-04.
17-17: Rural Housing Procedural Notices 494 and 495: Net ...
Effective immediately, PennyMac is aligning with Rural Housing’s update to NTB definition and policy regarding hazard insurance deductibles.
17-16: FHLMC Bulletin 2017-2 and Bulletin 2017-3: Various...
PennyMac is aligning with the updates announced in Freddie Mac Bulletin 2017-2 and 2017-3.
17-15: Hours of Operation for Memorial Day Holiday 2017
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options for the Memorial Day Holiday 2017.
17-14: Updates to Tax Transcript Requirements and Underwr...
Changes are being made to the requirements surrounding Work Number in lieu of Tax Transcripts and 2016 Tax Transcripts timing. Also, a reminder ab...
17-13: Transactions Involving Intra-Family Purchases
PennyMac has seen a recent trend involving intra-family purchases as a means to obtain cash-out for the seller while avoiding cash-out qualificati...
17-12: Update to Conventional LLPA
Effective for all commitments taken on or after Thursday, April 6th, 2017, PennyMac is implementing updates to the Conventional LLPA for Best Effo...
17-11: Changes to Best Effort Price Caps
PennyMac is pleased to announce the removal of price caps on Conventional and Government Best Effort loans, for new commitments taken on or after ...