Announcements - Page 5

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10.18.21

21-82: Update to Conventional LLPAs

PennyMac will make the following updates to the Conventional High Balance LLPAs effective for all Best Effort commitments taken on or after Wednesd...

10.15.21

21-81: Reminder – Expiration of the FHA COVID-19 Temporar...

As a reminder, all FHA COVID specific flexibilities and guidelines have expired as of case number assignments on or after October 1, 2021. FHA issu...

10.12.21

21-80: Update to Conventional and Government LLPAs

PennyMac will make the following updates to the Conventional and Government LLPAs effective for all Best Effort commitments taken on or after Thurs...

10.08.21

21-79: Expanded High Balance Now Available in Additional ...

On September 22nd, we announced expanded conventional loan limits to at least $625,000 for all states and counties. (See Announcement 21-73)

10.05.21

21-78: Increase to Maximum VA Loan Amount Limit

Effective Thursday, October 7, 2021, PennyMac is increasing the maximum base loan amount for VA loans from $1,500,000 to $2,000,000 subject to the ...

09.29.21

21-77: Funding for USDA Rural Housing 2022 Fiscal Year (FY)

Per the Fiscal Year 2022 Commitment Notice released September 20, 2021, funding for the USDA Rural Housing Loan Program will be temporarily unavail...

09.28.21

21-76: Reminder: Ginnie Mae Seasoning Requirements

As a reminder, Ginnie Mae seasoning requirements must be met on all government streamline or cash-out refinance transactions, including all VA refi...

09.28.21

21-75: Hours of Operation for Columbus Day Holiday 2021

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

09.27.21

21-74: Update to Delete Option for Portal User Login Status

As of 10/3/2021, Portal users with Seller Admin persona access will no longer have the ability to delete users from P3, PennyMac’s Correspondent Po...

09.22.21

21-73: Conforming High Balance Now Available in all State...

Effective immediately, PennyMac is supporting our Correspondents by offering conforming high balance loan amounts up to at least $625,000 in all St...

09.21.21

21-72: Updates to Conventional LLPAs

PennyMac will make updates to the Conventional Second Home LLPAs effective for all Best Effort commitments taken on or after Wednesday, September 2...

09.17.21

21-71: DU Release Notes Version 11.0 September Update – C...

PennyMac is working toward aligning with the Fannie Mae Credit Score change at a future date. An announcement will be issued once an implementation...

09.14.21

21-70: Updates to Best Efforts Rate Sheet

Effective for all Best Effort commitments taken on or after September 15, 2021, PennyMac will make the following changes to the BE rate sheet:

09.09.21

21-69: Update to Conventional LLPAs

PennyMac will make the following updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, September 13...

09.07.21

21-68: September Product Highlight | FNMA HomeStyle and F...

The Fannie Mae HomeStyle, FHA 203(k) Standard, and 203(k) Limited are a few of the most popular renovation loan products available through PennyMac...