Announcements

17-14: Updates to Tax Transcript Requirements and Underwriting Help NPPI Reminder

  • April 21, 2017

Changes are being made to the requirements surrounding Work Number in lieu of Tax Transcripts and 2016 Tax Transcripts timing. Also, a reminder about emails containing NPPI sent to Underwriting Help. 

Read More

17-13: Transactions Involving Intra-Family Purchases

  • April 21, 2017

PennyMac has seen a recent trend involving intra-family purchases as a means to obtain cash-out for the seller while avoiding cash-out qualifications and pricing. 

Read More

17-12: Update to Conventional LLPA

  • April 04, 2017

Effective for all commitments taken on or after Thursday, April 6th, 2017, PennyMac is implementing updates to the Conventional LLPA for Best Efforts and AOT/DT.  

Read More

17-11: Changes to Best Effort Price Caps

  • March 27, 2017

PennyMac is pleased to announce the removal of price caps on Conventional and Government Best Effort loans, for new commitments taken on or after Monday, April 3, 2017.

Read More

17-10: Update to SRP Grids

  • March 21, 2017

PennyMac will revise SRP grids effective for all commitments taken on or after Monday, April 3, 2017. PennyMac is aligning the SRP grid header to reflect the conforming standard balance loan limits, as announced by Fann...

Read More

17-09: Freddie Mac Income and Asset Changes in Bulletin 2016-19 and 2016-23

  • March 08, 2017

Effective immediately for Freddie Mac loans, PennyMac will align with Freddie Mac’s updates to income and assets as announced in Freddie Mac Bulletins 2016-19 and 2016-23.  Lenders may deliver loans under the...

Read More

17-08: Overlay Update VA Joint Loans and FHA Texas (a)(6)

  • March 06, 2017

In PennyMac’s continuing effort to ensure guidelines support current lending conditions, the following overlay updates are effective with commitments taken on or after March 10, 2017.

Read More

17-07: Good Friday Holiday Hours

  • February 27, 2017

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

Read More

17-06: Update to FHA DTI Overlay

  • February 23, 2017

In PennyMac’s continuing effort to ensure guidelines support current lending conditions, effective Tuesday, February 28, 2017, PennyMac is updating the FHA loan DTI overlay for Mandatory and Best Effort deliveries...

Read More

17-05: Updates to PennyMac’s VA Full Doc and IRRRL Programs

  • February 13, 2017

In PennyMac’s continuing effort to ensure guidelines support current lending conditions, effective immediately, PennyMac is updating overlays for VA loans as follows:

Read More

Archive

Sign up to receive email announcements.

When we post new announcements to the site you will receive it in your inbox. Just enter your e-mail address and click sign up.

*The email address entered MUST be a company branded domain. gmail.com, yahoo.com, etc. will not be accepted.