Announcements - Page 7

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11.04.21

21-92: Fannie Mae LL-2021-10 Expanding Refinance Eligibil...

PennyMac is aligning with the Fannie Mae updates announced in Lender Letter 2021-10 dated 10/20/21. Updates to the RefiNow option include but are n...

11.04.21

21-91: November Product Highlight | FNMA Student Loan Sol...

The Fannie Mae Student Loan Cash-out is a conventional refinance mortgage product designed to assist borrowers who carry student loan debt. It is u...

11.03.21

21-90: Updates to Conventional LLPAs

PennyMac will be improving pricing by over 3 points on the ‘Approve/Ineligible, <720, >625,000’ LLPA in the Conventional High Balance Mortgage Loan...

11.03.21

21-89: Hours of Operation for Veterans Day Holiday 2021

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

11.03.21

21-88: Updates to Conventional LLPAs

PennyMac will make the following updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Friday, November 5, ...

10.29.21

21-87: Freddie Mac Bulletin 2021-29 Home Possible Maximum...

Effective with loans delivered on or after 11/15/2021, PennyMac is aligning with the increase to the maximum LTV/TLTV for Home Possible Mortgages s...

10.28.21

21-86: 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 Monda...

10.28.21

21-85: Freddie Mac Refi Possible – Release Date Update

In Bulletin 2021-17, Freddie Mac introduced the Refi Possible mortgage offering as a new “no-cash out” refinance option for low-income borrowers.

10.27.21

21-84: Batch Best Efforts Lock Capability

PennyMac Correspondent is pleased to introduce a new method of locking which will enhance the efficiency and lock experience for our Delegated Best...

10.25.21

21-83: Updates to Conventional LLPAs

PennyMac will be improving pricing by 50 basis points on the ‘Approve/Ineligible, >=720, >625,000’ LLPA in the Conventional High Balance Mortgage L...

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 ...