Announcements - Page 27

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17-05: Updates to PennyMac’s VA Full Doc and IRRRL Programs

In PennyMac’s continuing effort to ensure guidelines support current lending conditions, effective immediately, PennyMac is updating overlays for ...


17-04: VA Circular 26-17-2: Student Loan Payment Calculation

Effective immediately, PennyMac is aligning with VA’s student loan payment calculation requirement, and Lenders may begin using VA’s updated guide...


17-03: Trailing Documents and Unmatched Data Fee

Mortgage loans purchased by PennyMac require delivery of all trailing documents as they become available but not to exceed 270 days from the purch...


17-02: Changes to Best Efforts Commitment Policy and LLPA...

For new Best Effort commitments taken on or after Thursday, January 19th, 2017, PennyMac will reduce the minimum extension term to one (1) calenda...


17-01: Hours of Operation for Martin Luther King Jr Day a...

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


16-50: Property Inspection Waiver Fee Discontinued

Effective immediately, PennyMac will discontinue the $75 property inspection waiver (PIW) fee, in conjunction with Fannie Mae's removal of the...


16-49: Updates to FHA and VA Overlays

Effective immediately, for all FHA Streamlines and VA IRRRLs


16-48: FHA ML 2016-20 and VA Circular 26-16-36: 2017 Loan...

Effective with case numbers assigned on or after January 1, 2017, PennyMac is aligning


16-47: Expanded Best Efforts Base Pricing

PennyMac is pleased to announce expansion of the Best Effort grids to include specialized base pricing for loan amounts less than 200K.


16-46: Hours of Operation for 2016 December Holidays

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


16-45: 2017 Conventional Loan Limit Increase

Effective with commitments issued on or after December 5, 2016, PennyMac is aligning with the conforming loan limit increases for standard and hig...


16-44: FNMA 2016-08 and DU Release Notes DU 10.0 December...

For all conforming DU approved loans, PennyMac will be aligning with the updates announced in Fannie Mae SEL 2016-08


16-43: Hours of Operation for Thanksgiving Holiday 2016

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


16-42: Six Month Payment History for All VA IRRRL Transac...

Ginnie Mae is requiring all streamline refinance transactions to have a minimum of six payments prior to refinancing for TBA deliverable Ginnie Ma...


16-41: SRP Grid LLPAs, and Seller's Guide Revision

PennyMac will release new SRP grids effective for all commitments taken on or after Monday, November 14, 2016.