Announcements - Page 3

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08.01.19

19-43: Update to VA Seasoning Requirements and COE Requir...

PennyMac is announcing the following updates on VA transactions. All updates are effective immediately.

07.31.19

19-42: ChoiceRenovation, HomePossible Income Limits, and ...

PennyMac is aligning to the updates in Freddie Mac bulletins 2019-14, 2019-15, and 2019-16. Updates include but are not limited to the following. A...

07.16.19

Revision to Announcement 19-40: New Bulk Bid Tape Fields ...

The effective date of requirement for the addition of the ‘AUS Type’ and ‘Appraisal Waiver Indicator’ fields will be Thursday, July 25, 2019, inste...

07.11.19

19-40: New Bulk Bid Tape Fields and Update to Conventiona...

The effective date of requirement for the addition of the ‘AUS Type’ and ‘Appraisal Waiver Indicator’ fields will be Thursday, July 25, 2019, inste...

06.26.19

19-39: Update to HARP Programs on Best Effort and AOT Rat...

Pursuant to Announcement 19-35, PennyMac will be removing the HARP programs, including DU Refi Plus and LPA Open Access, from the Best Effort and A...

06.26.19

19-38: Hours of Operation for the 4th of July Holiday

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

06.24.19

19-37: VA IRRRL Months to Recoup

Previously, PennyMac required all IRRRLs to meet the 36 month fee recoupment, except in transactions where the payment increased due to a term redu...

06.20.19

19-36: FHA ML 2019-08 and Reminder Regarding Illegal Acti...

Effective with case numbers assigned on or after June 17, 2019, PennyMac is aligning with FHA’s updates to Building On Own Land (BOOL).

06.20.19

19-35: Freddie Mac Bulletin 2019-9, 2019-11 and Fannie Ma...

PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2019-9, 2019-11 and Fannie Mae’s DU Release Notes 10.3 July Update, excluding...

06.18.19

19-34: Disaster Policy Implementation: Flooding in the Mi...

FEMA has recently declared several states in the Midwest as eligible for Individual Assistance, and several governors have issued states of emergen...

06.07.19

19-33: Fannie Mae Lender Letter 2019-06: Updates to DU El...

Effective with new loans submitted to DU on or after July 20, 2019, PennyMac is aligning with the updates announced by Fannie Mae in Lender Letter ...

06.07.19

19-32: Non-Delegated Fee Schedule Update

Effective for Non-Delegated commitments taken on or after Monday, June 10, 2019, the Underwriting Fees will be as follows:

05.24.19

19-31: Overlay Updates

In PennyMac’s continuing effort to align program requirements and market risk, the following overlays are being updated effective immediately.

05.14.19

19-30: Hours of Operation for Memorial Day Holiday

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

05.14.19

19-29: Release of FNMA Single Close Program and Update to...

PennyMac is pleased to announce the release of the Fannie Mae Single Close Construction loan program. Program requirements include: