Announcements - Page 3

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12.26.17

17-65: Update to the BE Rate Sheet Interest Rate Structur...

Effective Tuesday, January 2, 2018, the 4.060% interest rate will no longer appear on the PennyMac Rate Sheet for Conventional 25/30 Yr Fixed Prod...

12.21.17

17-64: FHA ML 2017-18 Updates to PACE Lien Requirements

For all FHA loans with case numbers assigned on or after January 7, 2018, PennyMac is aligning with FHA’s guidelines and will no longer allow PACE...

12.20.17

17-63: Disaster Policy Reminder for Southern California W...

Recently, the Governor of California has declared a State of Emergency in Ventura and Santa Barbara Counties due to wildfires. As a reminder, it i...

12.18.17

17-62: FHA and VA 2018 Loan Limit Increases

Effective on or after January 1, 2018, PennyMac is aligning with FHA’s increase to the floor and ceiling loan amounts and the VA’s increase to the...

12.15.17

17-61: Updates to Government LLPA tab on Rate Sheet

Effective for all commitments taken on or after Thursday, December 21st, 2017, PennyMac is implementing updates to values in the ‘Govt LLPAs’ tabs...

12.11.17

17-60: Texas (a)(6) Update

PennyMac has updated Texas home equity refinance requirements to align with Texas Proposition 2, which passed November 7, 2017.

12.06.17

17-59: FHMLC Bulletin 2017-23: Student Loan and Contingen...

For all LPA approved conventional loans, PennyMac is aligning with the updates announced in Freddie Mac Bulletin 2017-23.

12.06.17

17-58: Hours of Operation for December 2017 Holidays

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

11.29.17

17-57: 2018 Conventional Loan Limit Increase

Effective immediately, PennyMac is aligning with the conforming loan limit increases for standard and high balance loans, as announced by Fannie M...

11.21.17

17-56: Update to FHA DTI Overlay

PennyMac's DTI requirements for FHA loans have changed, effective immediately.

11.16.17

17-55: New Home Mortgage Disclosure Act (HMDA) Rules

The following are items requiring implementation under the Home Mortgage Disclosure Act - Regulation C rule changes published by the Consumer Fina...

11.14.17

17-54: Multiple Updates to the Rate Sheet

Effective for all commitments taken on or after Friday, December 1, 2017, PennyMac will be implementing multiple changes to the rate sheet. 

11.13.17

17-53: DU Release Notes Frozen Credit

Effective with DU runs on or after the weekend of November 18, PennyMac is aligning with Fannie Mae’s update to DU and will allow no more than one...

11.13.17

17-52: Freddie Mac 2017-12: Rental Income

PennyMac is aligning with the updates announced in Freddie Mac Bulletin 2017-12 regarding rental income and self-employed income changes.

11.13.17

17-51: Update to Tax Transcript Requirements

Effective immediately for all Delegated Fannie Mae, Freddie Mac, FHA, and VA programs, PennyMac is no longer requiring tax transcripts for borrowe...