Announcements - Page 5
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20-18: Updates to Government Loans Due to Covid-19
Effective immediately, for all VA transactions requiring an appraisal, PennyMac is aligning with the appraisal and other flexibilities offered by V...
20-17: Updates to Government LLPAs
PennyMac will make updates to the Government FICO LLPAs effective for all Best Effort commitments taken on or after Monday, March 30, 2020.
20-16: Revised Updates to Government LLPAs
PennyMac has revised the updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, March 27, 2020. New va...
20-15: Suspension of Tax Transcript Overlay
Effective immediately, PennyMac is temporarily suspending the PennyMac requirement for tax transcripts. Note that USDA transactions require tax tra...
20-14: Updates to Government LLPAs
PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, March 27, 2020, as follows...
20-13: Bulk AOT Suspended
Given the current market condition and extreme market volatility, PennyMac will be suspending the Bulk AOT delivery method effective immediately.
20-12: PennyMac COVID-19 Response
PennyMac understands that current conditions are providing unique challenges to the loan origination process. As such, PennyMac is announcing the f...
20-11: LIBOR ARMs Suspended
Effective with locks on or after March 21, 2020, PennyMac is temporarily suspending the purchase of all LIBOR ARM loans including Conventional Stan...
20-10: Correspondent Pricing Email Contacts
Due to increased volume and resulting call traffic, we would like to encourage clients to use the following email address contacts to ensure effici...
20-09: Updates to Investment Property Special
Effective Wednesday March 18th, 2020, PennyMac will be updating the values for the Investment Property Special pay-up on the Best Efforts rate shee...
20-08: Fannie Mae SEL-2020-01, Lender Letter LL-2020-01 a...
PennyMac is aligning with Fannie Mae’s most recent Selling Guide updates in SEL-2020-01, Lender Letter 2020-01, and Freddie Mac’s Bulletin 2020-01,...
20-07: New Base Pricing Grids for Best Effort Rate Sheets
Effective Friday March 6th, 2020, PennyMac will be introducing new Base pricing grids for loan amounts between $200,000 and $225,000, loan amounts ...
20-06: Reminder Regarding Tax Transcripts
Effective with all loans closed on or after June 15, 2020, 2019 tax transcripts will be required, unless the file contains evidence an extension wa...
20-05: Hours of Operation for Presidents’ Day Holiday
Please note the hours of operation for Best Effort, Bulk, and Bulk-AOT Commitment Options
20-04: Freddie Mac Income Requirements Extended
Freddie Mac recently extended the effective date for the variable income updates announced in Bulletin 2019-20. As a result of the extension, Penny...