Announcements - Page 2
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04.04.19
19-22: Non-US Citizens
Fannie Mae recently provided clarification stating borrowers are considered legally present in the US if the borrower has a Social Security Number ...
03.28.19
19-21: Freddie Mac Bulletin 2019-4 and 2019-5: Updates to...
Effective immediately, PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2019-4 and 2019-5. Updates include but are not limited...
03.14.19
19-20: FHA Third Party Verification & Reminder Regarding ...
Effective immediately, PennyMac will align with FHA’s ML 2019-01, and will accept third party verification services. Lenders must include any third...
03.14.19
19-19: Updates to Conventional LLPAs
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort and AOT-DT commitments taken on or after Friday, March 22, 2019,...
03.11.19
19-18: Release of Freddie Mac’s HomeOne Option and Update...
PennyMac is pleased to announce the release of Freddie Mac’s HomeOne option. Highlights of the program include:
02.28.19
19-17: Updates to Conventional and Government Purchase Sp...
Effective March 6, 2019, PennyMac will expire the “Purchase Special” on the Conventional and Government LLPA tabs of the Best Efforts and AOT/DT ra...
02.25.19
19-16: Release of VA Renovation Program
Effective immediately, PennyMac is pleased to announce the release of the VA Renovation program. Program requirements include:
02.21.19
19-15: Revision to Announcement 19-14: Updates to VA Cash...
Revision February 20, 2019: DU and LPA have been updated with the requirements to support VA’s update to cash-out transactions. As such, all loans ...
02.13.19
19-14: VA Circular 26-18-30 Updates to VA Cash-Out Transa...
VA has divided cash-out transactions into two separate categories, Type I and Type II.
02.11.19
19-13: Updates to Conventional and Government Purchase Sp...
PennyMac will be updating the requirements for the “Purchase Special” on the Conventional and Government LLPA tabs of the Best Efforts rate sheet. ...
02.01.19
19-12: Hours of Operation for Presidents’ Day Holiday
Please note the hours of operation for Best Effort, Bulk, AOT and DT Commitment Options:
02.01.19
19-11: End of Partial Government Shutdown
Effective with loans delivered on or after February 4, 2019, PennyMac is removing the temporary guidelines associated with the partial government s...
01.30.19
19-10: Updates to Conventional and Government Purchase Sp...
PennyMac will be updating the requirements for the “Purchase Special” on the Conventional and Government LLPA tabs of the Best Efforts rate sheet. ...
01.18.19
19-09: Fannie Mae LL-2019-02 & Freddie Mac Bul-2019-02: I...
In light of the recent Federal Government shutdown, both Fannie Mae and Freddie Mac, in consultation with FHFA, have jointly provided additional gu...
01.18.19
19-08: Update to the BE Rate Sheet Interest Rate Structure
Conventional 25/30 Yr Fixed: PennyMac will be introducing the 4.990% interest rate for Conventional 25/30 Year Fixed products onto the Best Effort ...