Announcements - Page 7

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09.21.18

18-38: Update to Disaster Policy Implementation: Hurrican...

PennyMac continues to monitor the ongoing flooding in North and South Carolina and adjust funding pauses as needed. Below are counties that are eli...

09.17.18

18-37: Disaster Policy Implementation Update: Hurricane F...

FEMA has recently announced eighteen counties, denoted in bold below, as eligible for Individual Assistance due to Hurricane Florence. Due to the o...

09.11.18

18-36: Disaster Policy Implementation: Hurricane Florence

Due to Hurricane Florence, the Governors of North Carolina, South Carolina, and Virginia have pre- emptively declared a State of Emergency in coast...

08.31.18

18-35: Update to Jumbo Guidelines

PennyMac continuously reviews its guidelines in an effort to minimize risk to both PennyMac and its Correspondent partners.

08.31.18

18-34: Fannie Mae Announcement 2018-06 Various Updates

PennyMac is aligning with the updates announced in Fannie Mae’s Announcement 2018-06. Changes include but are not limited to the below. Effective d...

08.29.18

18-33: Electronic Closings

This announcement clarifies PennyMac’s policy on e-signing documents in both origination and closing processes.

08.24.18

18-32: Updates to Govt FICO LLPA Values and SRP Values

Effective for all Best Effort and AOT-DT commitments taken on or after Wednesday, September 5th, 2018, PennyMac is implementing the following updat...

08.24.18

18-31: Hours of Operation for Labor Day Holiday 2018

Hours of operation for Best Effort, Bulk, AOT and DT Commitment Options.

07.18.18

18-30: Freddie Mac Bulletin 2018-10 Updates to Condos and...

For all LPA approved loans, PennyMac is aligning with the updates announced in Bulletin 2018-10, including but not limited to the below. Effective ...

07.13.18

18-29: Various Topics: HomeOne, FHA Gift Donor Statements...

Freddie Mac recently announced the HomeOne program with LTVs up to 97%. PennyMac will not immediately participate in the HomeOne Option and will co...

07.10.18

18-28: Disaster Policy Implementation: Texas Flooding

FEMA has recently declared two counties in Texas as eligible for Individual Assistance due to severe storms and flooding. In accordance with PennyM...

07.10.18

18-27: VA Refinance of Loans with No Payment History

As a clarification, per Ginnie Mae, loans paid off through a VA refinance must have a payment history in order to meet Ginnie Mae’s seasoning requi...

06.18.18

18-26: FNMA SEL 2018-05 and DU Release Notes June 23: Var...

PennyMac is aligning with the various updates in Fannie Mae SEL 2018-05 and DU Release Notes 6.23, with the exception of the HomeStyle Energy Prog...

06.15.18

18-25: Hours of Operation for the 4th of July Holiday

Please note PennyMac's hours of operation for Best Effort, Mandatory, Bulk, AOT and DT Commitment options.

06.08.18

18-24: VA Circular 26-18-13 Updates to VA Refinance Trans...

Effective with all loan applications taken on or after May 25, 2018, PennyMac is aligning VA Circular 26-18-13.  All VA IRRRL transactions must me...