Announcements - Page 2

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09.03.20

20-54: Bulk AOT Deliveries

PennyMac will begin taking Bulk AOT deliveries effective September 4, 2020. The maximum commitment period allowed will be 7 days, and limited to on...

09.01.20

20-53: Hours of Operation for Labor Day Holiday

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

08.28.20

20-52: Adverse Market Refinance Fee LLPA

The Federal Housing Finance Agency (FHFA) announced a delay to the implementation date of the Adverse Market Refinance Fee until December 1, 2020. ...

08.25.20

20-51: Adverse Market Refinance Fee Delayed

The Federal Housing Finance Agency (FHFA) today announced a delay to the implementation date of their Adverse Market Refinance Fee until December 1...

08.25.20

20-50: Updates to Conventional Purchase Special LLPA

Effective for all Best Effort commitments on or after Wednesday, August 26, 2020, PennyMac will update the value for the Conventional Purchase Spec...

08.21.20

20-49: Non-Delegated Self-Employed Limited to 70% LTV/CLTV

Effective for all conventional loans with locks on or after August 25, 2020, PennyMac is limiting borrowers qualifying with self-employed income to...

08.21.20

20-48: Fannie Mae SEL 2020-04, Freddie Mac Bulletin 2020-...

PennyMac is aligning with the updates in Fannie Mae’s SEL 2020-04, Freddie Mac’s Bulletin 2020-31, and FHA’s Mortgagee Letter 2020-24 including but...

08.17.20

20-47: Fannie Mae and Freddie Mac Adverse Market Refinanc...

Fannie Mae and Freddie Mac recently announced an adverse market refinance fee of 50 basis points to be assessed on whole loans purchased by the age...

07.29.20

20-46: Updates to Government LLPAs

PennyMac will make updates to ‘Government FICO Price Adjustments’ LLPAs effective for all Best Effort commitments taken on or after Monday, August ...

07.28.20

20-45: Updates to Conventional Purchase Special LLPA

Effective Thursday, July 30, 2020, PennyMac will make updates to the Conventional Purchase Special LLPA effective for all Best Effort commitments a...

07.16.20

20-44: VA Circular 26-20-25, Extension of COVID-19 Relate...

Purchase and Full Doc Refinance. Effective immediately, PennyMac is aligning with the guidance announced in VA Circular 26-20-25 related to purchas...

06.26.20

20-43: Fannie Mae’s Updated Lender Letters 03/04 dated Ju...

Effective immediately, PennyMac is aligning with the updates announced in Fannie Mae’s Updated Lender Letters 03/04 dated June 11, 2020, SEL 2020-0...

06.24.20

20-42: Hours of Operation for the 4th of July Holiday

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

06.12.20

20-41: Fannie Mae’s Updated Lender Letter 2020-03 dated M...

Effective for conventional loans with applications on or after June 11, 2020, PennyMac is aligning with the guidance given in Fannie Mae’s Updated ...

06.12.20

20-40: Introducing PennyMac Performance Portal (P3)

PennyMac has developed an enhanced, more streamlined platform for our clients, creating a better experience throughout. We’ll start migrating you t...