Announcements

17-04: VA Circular 26-17-2: Student Loan Payment Calculation

  • February 02, 2017

Effective immediately, PennyMac is aligning with VA’s student loan payment calculation requirement, and Lenders may begin using VA’s updated guidelines.

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17-03: Trailing Documents and Unmatched Data Fee

  • January 26, 2017

Mortgage loans purchased by PennyMac require delivery of all trailing documents as they become available but not to exceed 270 days from the purchase date.  PennyMac has the right to charge/collect from the Corresp...

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17-02: Changes to Best Efforts Commitment Policy and LLPA Grids

  • January 18, 2017

For new Best Effort commitments taken on or after Thursday, January 19th, 2017, PennyMac will reduce the minimum extension term to one (1) calendar day. Correspondents will be permitted to extend the commitme...

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17-01: Hours of Operation for Martin Luther King Jr Day and Presidents Day Holidays

  • January 11, 2017

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

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16-50: Property Inspection Waiver Fee Discontinued

  • December 30, 2016

Effective immediately, PennyMac will discontinue the $75 property inspection waiver (PIW) fee, in conjunction with Fannie Mae's removal of the fee, for any loans purchased on or after January 3, 2017.

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16-49: Updates to FHA and VA Overlays

  • December 23, 2016

Effective immediately, for all FHA Streamlines and VA IRRRLs

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16-48: FHA ML 2016-20 and VA Circular 26-16-36: 2017 Loan Limit Increases

  • December 20, 2016

Effective with case numbers assigned on or after January 1, 2017, PennyMac is aligning

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16-47: Expanded Best Efforts Base Pricing

  • December 06, 2016

PennyMac is pleased to announce expansion of the Best Effort grids to include specialized base pricing for loan amounts less than 200K.

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16-46: Hours of Operation for 2016 December Holidays

  • December 06, 2016

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

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16-45: 2017 Conventional Loan Limit Increase

  • December 02, 2016

Effective with commitments issued on or after December 5, 2016, PennyMac is aligning with the conforming loan limit increases for standard and high balance loans, as announced by Fannie Mae and Freddie Mac.

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