Announcements - Page 22
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04.16.15
15-19: FHLMC 2015-4: Condo Requirements and Reserve Verif...
In light of recent market trends and lender inquiries, Freddie Mac revised certain condo requirements. Effective immediately, PennyMac is alignin...
04.15.15
15-18: Fannie Mae SEL 2014-16: Changes to Student Loans ...
Effective immediately, PennyMac is aligning with Fannie Mae’s updates to student loans and solar panels, as announced SEL 2014-16, for conforming ...
04.14.15
15-17: Update to Hazard and Flood Insurance Mortgagee Cl...
Effective immediately, the hazard and flood insurance mortgagee clause has been updated for loans sold to PennyMac Correspondent Group.
04.02.15
15-16: Reminder for UCDP/SSR and Requirement for Collate...
Reminder for UCDP and SSR and information regarding Fannie Mae Collateral Underwriter.
03.30.15
15-15: Hours of Operation for Friday, April 3rd 2015
Please note the hours of operation for Best Effort, Mandatory, Bulk, AOT and DT Commitment Options:
03.16.15
15-14: Reminder DU 9.1 LTV Owner Occupied Cash Out Trans...
As a reminder, the last day to deliver DU 9.1 1-unit, owner-occupied, cash-out transactions with LTV/CLTV/HCLTVs exceeding 80% is April 15, 2015, ...
03.16.15
15-13: New Loan Programs, Guideline Updates and Rate She...
Effective with loan commitments taken on or after Monday, March 23, 2015, PennyMac is pleased to announce the following changes to government loan...
03.05.15
15-12: CRT Capital Group LLC Removed from Acceptable Bro...
Effective immediately, CRT Capital Group LLC is now removed from the list of acceptable Broker Dealers in the Assignment of Trade (AOT) commitment...
02.26.15
15-11: Increase to LTV Plus Maximum Loan Amount
Currently, the LTV Plus program is limited to a maximum loan amount of $750,000. Effective Monday, March 2, 2015, PennyMac is pleased to announce...
02.25.15
15-10: Types of Power of Attorney Documents
As a reminder, a power of attorney on Conventional loans using Desktop Underwriting or on Jumbo loans must reference the subject property address ...
02.23.15
15-09: Changes to Government FICO Minimum and VA Loan Am...
Effective with loan commitments taken on or after Wednesday, February 25, 2015 PennyMac is pleased to announce the following changes to government...
02.13.15
15-08: Income, Assets and Property Related to Illegal Ac...
As a reminder, when delivering loans to PennyMac, Lenders rep and warrant that individual loans comply with all applicable laws, including any loc...
02.09.15
15-07: Conforming Condo Project Warranty Documentation
Lenders that sell mortgage loans secured by units in a condo project are expected to have staff that are knowledgeable about and qualified to eval...
01.23.15
15-06: Current Market Value Requirement Retired for FHA ...
Previously, PennyMac required a current market value, as demonstrated by an Automated Value Model (AVM) or drive by appraisal (2055E or 1075), to ...
01.12.15
15-05: Clarification to Announcement 14-63 FHA and VA AR...
This announcement is intended to provide further clarity regarding Announcement 14-63 regarding FHA and VA ARM Look-Back Periods. See the attache...