Announcements - Page 8

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01.18.18

18-06: FHLMC 2017-28: Updates Employment After the Note D...

Effective immediately, PennyMac is updating its requirements for Employment Commencing After the Note Date to more closely align with Freddie Mac’...

01.18.18

18-05: FNMA SEL 2017-10: Title in an LLC and Premium Pricing

For all DU approved conventional loans, PennyMac is aligning with the updates announced in Fannie Mae SEL 2017-10, including but not limited to th...

01.16.18

18-04: Extension of Freddie Mac Income Update Effective D...

Freddie Mac recently extended the required effective dates of their rental income changes to November 2018.

01.10.18

18-03: GNMA APM 17-06 Updates to Seasoning Requirements f...

Effective with loans delivered on or after March 2, 2018, PennyMac is aligning with Ginnie Mae’s seasoning requirements for all streamline and cas...

01.10.18

18-01: Temporary Update to Rural Housing Transcript Requi...

Effective immediately, PennyMac is temporarily suspending transcripts for all household members to validate annual household income.  

01.03.18

18-02: Hours of Operation for MLK Jr. Day and Presidents ...

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

12.26.17

17-65: Update to the BE Rate Sheet Interest Rate Structur...

Effective Tuesday, January 2, 2018, the 4.060% interest rate will no longer appear on the PennyMac Rate Sheet for Conventional 25/30 Yr Fixed Prod...

12.21.17

17-64: FHA ML 2017-18 Updates to PACE Lien Requirements

For all FHA loans with case numbers assigned on or after January 7, 2018, PennyMac is aligning with FHA’s guidelines and will no longer allow PACE...

12.20.17

17-63: Disaster Policy Reminder for Southern California W...

Recently, the Governor of California has declared a State of Emergency in Ventura and Santa Barbara Counties due to wildfires. As a reminder, it i...

12.18.17

17-62: FHA and VA 2018 Loan Limit Increases

Effective on or after January 1, 2018, PennyMac is aligning with FHA’s increase to the floor and ceiling loan amounts and the VA’s increase to the...

12.15.17

17-61: Updates to Government LLPA tab on Rate Sheet

Effective for all commitments taken on or after Thursday, December 21st, 2017, PennyMac is implementing updates to values in the ‘Govt LLPAs’ tabs...

12.11.17

17-60: Texas (a)(6) Update

PennyMac has updated Texas home equity refinance requirements to align with Texas Proposition 2, which passed November 7, 2017.

12.06.17

17-59: FHMLC Bulletin 2017-23: Student Loan and Contingen...

For all LPA approved conventional loans, PennyMac is aligning with the updates announced in Freddie Mac Bulletin 2017-23.

12.06.17

17-58: Hours of Operation for December 2017 Holidays

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

11.29.17

17-57: 2018 Conventional Loan Limit Increase

Effective immediately, PennyMac is aligning with the conforming loan limit increases for standard and high balance loans, as announced by Fannie M...