Announcements - Page 3

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10.23.20

20-68: Update to Conventional LLPAs

PennyMac will make the following update to the Conventional LLPAs effective for all Best Effort commitments taken on or after Wednesday, October 28...

10.21.20

20-67: Fannie Mae HomeStyle Renovation Program Availability

Effective immediately, the Fannie Mae HomeStyle Renovation program has been reinstated. As a reminder, lenders must be approved to participate in t...

10.21.20

20-66: Introducing the Home Value Estimator Tool

PennyMac is pleased to introduce the Home Value Estimator tool, making it easier to obtain a current market value, as demonstrated by an Automated ...

10.19.20

20-65: Reminder of MERs Requirements

Due to an increased number of loans with aged MERs transfer requests, we would like to remind Correspondent Sellers of our requirements as outlined...

10.09.20

20-64: 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 Wednesday, October ...

10.07.20

20-63: COVID-19 Flexibilities Extended, 4506-T, Reuse of...

PennyMac is aligning with Fannie Mae and Freddie Mac’s extension of COVID-19 related flexibilities for conventional transactions including buying l...

10.07.20

20-62: Adverse Market Refinance Fee Update

The Federal Housing Finance Agency (FHFA) announced a delay to the implementation date of the Adverse Market Refinance Fee until December 1, 2020.

10.05.20

20-61: Hours of Operation for Columbus Day Holiday 2020

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

09.28.20

20-60: FHA Mortgagee Letter 2020-30 and USDA FAQs

Effective immediately, PennyMac is aligning with FHA Mortgagee Letter 2020-30 and the guidance given in USDA’s most recent FAQ publication on Septe...

09.23.20

20-59: Adverse Market Refinance Fee, VA LLPA and SRP Update

The Federal Housing Finance Agency (FHFA) announced a delay to the implementation date of the Adverse Market Refinance Fee until December 1, 2020. ...

09.17.20

20-58: Fannie Mae SEL 2020-05, Freddie Mac Bulletin 2020-...

PennyMac is aligning with the updates in Fannie Mae SEL 2020-05, Freddie Mac’s Bulletin 2020-36, except as indicated below.

09.15.20

20-57: Funding for USDA Rural Housing 2021 Fiscal Year (FY)

Per the Fiscal Year 2021 Commitment Notice released September 14, 2020, funding for the USDA Rural Housing Loan Program will be temporarily unavail...

09.10.20

20-56: Extension of COVID-19 Flexibilities and Tax Transc...

Effective Immediately, PennyMac is aligning with Fannie Mae and Freddie Mac’s extension of COVID-19 related flexibilities for conventional transact...

09.09.20

20-55: Adverse Market Refinance Fee LLPA Update

The Federal Housing Finance Agency (FHFA) announced a delay to the implementation date of the Adverse Market Refinance Fee until December 1, 2020. ...

09.03.20

20-54: Bulk AOT Deliveries

PennyMac will begin taking Bulk AOT deliveries effective September 4, 2020. The maximum commitment period allowed will be 7 days, and limited to on...