09.11.18
18-36: Disaster Policy Implementation: Hurricane Florence
Due to Hurricane Florence, the Governors of North Carolina, South Carolina, and Virginia have pre- emptively declared a State of Emergency in coast...
08.31.18
18-35: Update to Jumbo Guidelines
PennyMac continuously reviews its guidelines in an effort to minimize risk to both PennyMac and its Correspondent partners.
08.31.18
18-34: Fannie Mae Announcement 2018-06 Various Updates
PennyMac is aligning with the updates announced in Fannie Mae’s Announcement 2018-06. Changes include but are not limited to the below. Effective d...
08.29.18
18-33: Electronic Closings
This announcement clarifies PennyMac’s policy on e-signing documents in both origination and closing processes.
08.24.18
18-32: Updates to Govt FICO LLPA Values and SRP Values
Effective for all Best Effort and AOT-DT commitments taken on or after Wednesday, September 5th, 2018, PennyMac is implementing the following updat...
08.24.18
18-31: Hours of Operation for Labor Day Holiday 2018
Hours of operation for Best Effort, Bulk, AOT and DT Commitment Options.
07.18.18
18-30: Freddie Mac Bulletin 2018-10 Updates to Condos and...
For all LPA approved loans, PennyMac is aligning with the updates announced in Bulletin 2018-10, including but not limited to the below. Effective ...
07.13.18
18-29: Various Topics: HomeOne, FHA Gift Donor Statements...
Freddie Mac recently announced the HomeOne program with LTVs up to 97%. PennyMac will not immediately participate in the HomeOne Option and will co...
07.10.18
18-28: Disaster Policy Implementation: Texas Flooding
FEMA has recently declared two counties in Texas as eligible for Individual Assistance due to severe storms and flooding. In accordance with PennyM...
07.10.18
18-27: VA Refinance of Loans with No Payment History
As a clarification, per Ginnie Mae, loans paid off through a VA refinance must have a payment history in order to meet Ginnie Mae’s seasoning requi...
06.18.18
18-26: FNMA SEL 2018-05 and DU Release Notes June 23: Var...
PennyMac is aligning with the various updates in Fannie Mae SEL 2018-05 and DU Release Notes 6.23, with the exception of the HomeStyle Energy Prog...
06.15.18
18-25: Hours of Operation for the 4th of July Holiday
Please note PennyMac's hours of operation for Best Effort, Mandatory, Bulk, AOT and DT Commitment options.
06.08.18
18-24: VA Circular 26-18-13 Updates to VA Refinance Trans...
Effective with all loan applications taken on or after May 25, 2018, PennyMac is aligning VA Circular 26-18-13. All VA IRRRL transactions must me...
06.01.18
18-23: Ginnie Mae Seasoning Requirements for VA Loans
Effective for loans purchased on or after 6/4/2018, PennyMac is aligning with Ginnie Mae’s updates to seasoning on all VA refinance transactions (...
05.30.18
18-22: Updates to Conventional and Jumbo LLPAs
PennyMac will be making structural changes to the Jumbo LLPA grids, and will be updating the values for the Conventional and Jumbo LLPAs. In addit...