Announcements - Page 3

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03.24.20

20-13: Bulk AOT Suspended

Given the current market condition and extreme market volatility, PennyMac will be suspending the Bulk AOT delivery method effective immediately.

03.23.20

20-12: PennyMac COVID-19 Response

PennyMac understands that current conditions are providing unique challenges to the loan origination process. As such, PennyMac is announcing the f...

03.19.20

20-11: LIBOR ARMs Suspended

Effective with locks on or after March 21, 2020, PennyMac is temporarily suspending the purchase of all LIBOR ARM loans including Conventional Stan...

03.17.20

20-10: Correspondent Pricing Email Contacts

Due to increased volume and resulting call traffic, we would like to encourage clients to use the following email address contacts to ensure effici...

03.17.20

20-09: Updates to Investment Property Special

Effective Wednesday March 18th, 2020, PennyMac will be updating the values for the Investment Property Special pay-up on the Best Efforts rate shee...

03.03.20

20-08: Fannie Mae SEL-2020-01, Lender Letter LL-2020-01 a...

PennyMac is aligning with Fannie Mae’s most recent Selling Guide updates in SEL-2020-01, Lender Letter 2020-01, and Freddie Mac’s Bulletin 2020-01,...

02.24.20

20-07: New Base Pricing Grids for Best Effort Rate Sheets

Effective Friday March 6th, 2020, PennyMac will be introducing new Base pricing grids for loan amounts between $200,000 and $225,000, loan amounts ...

02.07.20

20-06: Reminder Regarding Tax Transcripts

Effective with all loans closed on or after June 15, 2020, 2019 tax transcripts will be required, unless the file contains evidence an extension wa...

02.05.20

20-05: Hours of Operation for Presidents’ Day Holiday

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

02.04.20

20-04: Freddie Mac Income Requirements Extended

Freddie Mac recently extended the effective date for the variable income updates announced in Bulletin 2019-20. As a result of the extension, Penny...

01.23.20

20-03: Updates to Conventional and Government LLPAs

PennyMac will make updates to the Conventional and Government LLPAs effective for all Best Effort commitments taken on or after Friday, January 31,...

01.13.20

20-02: Freddie Mac Bulletin 2019-20, 2019-25 and Fannie M...

PennyMac is aligning with Freddie Mac’s updates announced in Bulletins 2019-20, 2019-25 and Fannie Mae’s SEL 2019-09, with the exception of all man...

01.13.20

20-01: Hours of Operation for Martin Luther King Jr. Day ...

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

12.20.19

19-70: Updated Taxpayer First Act Consent Form

The IRS has released clarifications to the Taxpayer First Act, which can be found at https://www.irs.gov/newsroom/taxpayer-first-act-cybersecurity-...

12.17.19

19-69: FHA and VA Loan Limit Increase for 2020

Per FHA ML 2019-19, effective with case numbers assigned on or after January 1, 2020, PennyMac is aligning with FHA’s updates to the floor and ceil...