Announcements - Page 2

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12.24.18

18-63: Federal Government Partial Shutdown 2018

PennyMac is providing the following guidance for issues arising during the partial government shutdown. This guidance is automatically rescinded, a...

12.19.18

18-62: FHA and VA Loan Limit Increase for 2019

FHA: Per FHA ML 2018-11, effective with case numbers assigned on or after January 1, 2019, PennyMac is aligning with FHA’s increase to the floor an...

12.19.18

18-61: Release of PennyMac’s Non-Conforming Non-QM Progra...

Effective January 2nd, 2018, PennyMac is pleased to announce the release of the Non-Conforming Non-QM Loan Program. Highlights of the program include:

12.10.18

18-60: Freddie Mac Bulletin 2018-18, 19, and 23: Updates ...

PennyMac will be aligning with the updates announced in Freddie Mac Bulletin 2018-18, 2018-19, and 2018-23, including but not limited to the below....

12.10.18

18-59: DU RELEASE: Version 10.3

PennyMac is aligning with the updates identified in DU release Version 10.3. Updates include but are not limited to:

12.06.18

18-58: Hours of Operation for December 2018 Holidays

Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:

12.04.18

18-57: USDA PN 518 Chapter 9 Income Updates

Effective with loan applications submitted to USDA for conditional commitment on or after December 15, 2018, PennyMac is aligning with the updates ...

12.03.18

18-56: Hours of Operation for National Day of Mourning – ...

Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:

11.30.18

18-55: Updates to FHLMC Home Possible and Home Possible A...

Effective Friday, December 7th, 2018, PennyMac will be implementing the following updates to the Best Effort rate sheets in accordance with the con...

11.28.18

18-54: 2019 Conventional Loan Limit Increase

The Housing and Economic Recovery Act of 2008 (HERA) established the baseline loan limit of $417,000 and requires this limit to be adjusted each ye...

11.23.18

18-53: Disaster Policy Implementation: California Wildfires

FEMA has recently declared Butte, Los Angeles, and Ventura counties in California as eligible for Individual Assistance due to the Camp Fire and Wo...

11.14.18

18-52: Conventional and Jumbo LLPAs

Effective Tuesday, November 27, 2018, PennyMac will be rolling out multiple updates to its Best Effort and AOT/DT rate sheets as noted below.

11.13.18

18-51: Hours of Operation for Thanksgiving Holiday 2018

Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:

11.09.18

18-50: Veteran’s Day

For purposes of compliance with Regulation Z, PennyMac will treat Veteran's Day 2018 in accordance with the following rules:

11.08.18

18-49: Release of Non-Delegated VA

Effective Monday November 12, 2018, Non-Delegated Eligibility Review will be available for VA loans with Best Efforts locks. An executed Non-Delega...