Non-Delegated Announcements

Delegated Non-Delegated

04.16.24

24-35: VA – Departing Residence Update

Pennymac is reminding clients of VA’s requirement regarding the use of rental income on a departing residence, and clarifying the following:

04.05.24

24-34: Best Effort Rate Sheet Restructure

Effective Friday, April 19, 2024, Pennymac will be updating the Best Effort rate sheet to include new FHA base pricing grids. These new grids will ...

04.04.24

24-33: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Friday, April 05, 2024 as follows:

04.02.24

24-32: VA WebLGY IRRRL Modification Update

On 2/20/2024, VA Loan Guaranty Service released an enhancement to WebLGY, providing lenders with additional information about the existing VA guara...

03.27.24

24-31: Updates to Government LLPAs

Pennymac will update Government LLPAs effective for all Best Efforts Commitments taken on or after Friday, March 29, 2024 as follows:

03.25.24

24-30: Updates to Pennymac Rate Sheet

Pennymac will update the Best Efforts rate sheet effective for all Commitments as follows:

03.21.24

24-29: Fannie Mae Nontraditional Credit References Update

Pennymac is aligning with Fannie Mae SEL 2024-01 updating their nontraditional credit requirements for loans underwritten using Desktop Underwriter...

03.21.24

24-28: Fannie Mae: Use of Business Income:

Pennymac is aligning with Fannie Mae’s clarification of several income calculation and documentation requirements for borrowers using business inco...

03.21.24

24-27: Best Effort Rate Sheet Restructure

Effective Wednesday, March 27, 2024, Pennymac will be updating the Best Effort rate sheet to include new state-specific Conventional base pricing g...

03.20.24

24-26: Fannie Mae Manufactured Housing Cash-Out Refinance...

Pennymac is aligning with the updates to the maximum loan term on a cash-out refinance for manufactured housing as announced in Fannie Mae SEL-2024...

03.18.24

24-25: Virtual Currency Update

Effective immediately, Pennymac is pleased to announce that cryptocurrency/virtual currency may now be used as funds for closing and reserves on FH...

03.12.24

24-24: Updates to Conventional LLPAs

Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Monday, March 18, 2024 as follows:

03.12.24

24-23: Cybersecurity Incidents Reminder

Freddie Mac issued an industry letter on January 20, 2024 reminding Sellers and Servicers of their obligations to maintain an effective information...

03.07.24

24-22: Final Multi-Factor Authentication Implementation

As part of our commitment to maintain the highest quality and security of client data, Pennymac has finalized implementation of Multi-Factor Authen...

03.04.24

24-21: FHA Non-Borrowing Spouse Clarification

FHA requires the debt of a non-borrowing spouse (NBS) to be included on the URLA and included in the qualifying debt ratios if: