Announcements - Page 4

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08.08.22

22-49: FHA DTI Ratio Update

Currently, Pennymac has additional requirements when the DTI ratio exceeds 50% on FHA Full Documentation and FHA 203K loans.

08.04.22

22-48: August Product Highlight | FHA/VA Manufactured Homes

Pennymac Delegated is excited to offer Manufactured Homes on our existing FHA and VA products, including FHA Streamline and VA IRRRL.

08.01.22

22-47: VA Circular 26-22-10

Effective immediately, Pennymac is aligning with VA Circular 26-22-10 which announces a Certificate of Eligibility (COE) enhancement to add the Uni...

07.14.22

22-46: Release of FHA and VA Manufactured Home Loan Program

Effective Monday, July 18, 2022, Pennymac is pleased to announce the release of the FHA Full Documentation, FHA Streamline, VA Full Documentation, ...

07.12.22

22-45: Freddie Mac Bulletin 2022-13

Pennymac is aligning with the Automated Collateral Evaluation (ACE) Waiver Eligibility Updates and the new offering, ACE+ PDR (property data report...

07.12.22

22-44: Freddie Mac Bulletin 2022-11

Pennymac is aligning with the Freddie Mac updates announced in Bulletin 2022-11, with the exception of the use of CHOICERenovation loans for ADUs d...

07.11.22

22-43: Loan Eligibility in New York and CEMA Refinances

Effective immediately, Pennymac is pleased to announce that Conventional Conforming, Jumbo, FHA and VA loans secured by properties in New York are ...

07.01.22

22-42: Updates to Government FICO & Conventional Cashout ...

Pennymac will update Government & Conventional LLPAs effective for all Best Effort commitments taken on or after Wednesday, July 06, 2022, as follows:

06.27.22

22-41: Hours of Operation for 4th of July Holiday

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

06.13.22

22-40: Hours of Operation for Juneteenth Holiday

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

06.06.22

22-39: Fannie Mae and Freddie Mac Cryptocurrency & Foreig...

Both Fannie Mae and Freddie Mac require that cryptocurrency (i.e. virtual currency) may only be used as funds for closing and reserves if it has be...

06.03.22

22-38: Updated Email Distribution Groups

In order to better serve our clients, we have consolidated our email distribution groups. The table below details the changes.

06.02.22

22-37: June Product Highlight | Batch BE (Best Efforts)

Batch Best Efforts – also referred to as Batch BE – is a unique and efficient locking method that Pennymac Correspondent Group is proud to offer ou...

05.31.22

22-36: VA Maximum LTV Update for Cash Out Refinances

Effective Monday, June 6, 2022, Pennymac is pleased to announce the maximum VA LTV/CLTV for Cash Out Refinances is 100% including any financed fund...

05.20.22

22-35: FHA LLPA Special

Effective Monday, May 23, 2022 Pennymac is adding a Government FHA LLPA Special for all Best Effort commitments as follows