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
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
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
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
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
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