Announcements - Page 4

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04.08.21

21-27: Non-Delegated Conventional Self-Employed Borrower ...

Currently, all Non-Delegated conventional loans qualifying with self-employed borrower income have LTV/CLTV limitations that differ from the standa...

04.07.21

21-26: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, April 12, 2021, as follows:

03.26.21

21-25: AVM Options for VA IRRRLs and Reuse of AUS Case Fi...

VA IRRRL transactions require the current value to be determined by the use of several options including Automated Valuation Models (AVMs).

03.25.21

21-24: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, March 29, 2021, as follows:

03.25.21

21-23: Hours of Operation for Good Friday Holiday

Please note the hours of operation for Best Effort, Bulk and Bulk-AOT commitment options:

03.24.21

21-22: Reinstatement and Reminder Regarding Tax Transcripts

PennyMac is reinstating the requirement for tax transcripts effective with loan applications on or after June 17, 2021. When required, 2020 tax tra...

03.19.21

21-21: Introducing Weekend Lock Availability

PennyMac will begin accepting locks over the weekend starting Saturday, March 20, 2021.

03.18.21

21-20: Revised Announcement #21-12 Conventional Self-Empl...

PennyMac is aligning with the updated Fannie Mae and Freddie Mac COVID FAQ’s on profit and loss statement requirements when the complete 2020 Feder...

03.12.21

21-19: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional Investment Property and Second Home LLPAs effective for all Best Effort commitments taken on or afte...

03.10.21

21-18: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional Investment Property and Second Home LLPAs effective for all Best Effort commitments taken on or afte...

03.09.21

21-17: Non-Delegated: Floating Refinance

Effective with all refinance loan submissions on or after March 09, 2021, all Non-Delegated clients will not be required to first lock a loan prior...

03.05.21

21-16: Encompass Investor Connect

PennyMac Correspondent Group, delegated and non-delegated, is pleased to announce that effective immediately, you can now deliver loans to PennyMac...

03.04.21

21-15: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional Investment Property and Second Home LLPAs effective for all Best Effort commitments taken on or afte...

03.02.21

21-14: Update to Early Payoff Policy in Seller’s Guide

Effective for commitments taken on or after March 3, 2021, PennyMac is adding the following bullet point to the Early Payoff Policy in the Delegate...

03.01.21

21-13: Updates to Best Efforts LLPAs

Effective for all Best Effort commitments taken on or after March 3, 2021, PennyMac will make the following changes to the Best Efforts rate sheet