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18-06: FHLMC 2017-28: Updates Employment After the Note Date, Land Trust

  • January 18, 2018

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

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

  • January 18, 2018

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

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18-04: Extension of Freddie Mac Income Update Effective Dates

  • January 16, 2018

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

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18-03: GNMA APM 17-06 Updates to Seasoning Requirements for Streamline and Cash-Out Refinances

  • January 10, 2018

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

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18-01: Temporary Update to Rural Housing Transcript Requirements (Revised)

  • January 10, 2018

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

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

  • January 03, 2018

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

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17-65: Update to the BE Rate Sheet Interest Rate Structure for Conventional 25/30 Yr Fixed Products

  • December 26, 2017

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 Products...

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

  • December 21, 2017

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 liens to remain secured against the subject property.

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17-63: Disaster Policy Reminder for Southern California Wildfires

  • December 20, 2017

Recently, the Governor of California has declared a State of Emergency in Ventura and Santa Barbara Counties due to wildfires. As a reminder, it is the Correspondent’s responsibility to be aware of and act up...

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17-62: FHA and VA 2018 Loan Limit Increases

  • December 18, 2017

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 county loan limits.

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