Announcements - Page 40

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12-56: Pricing Policy Changes Resulting from FHFA Directed Guaranty Fee Increases

  • September 14, 2012

Announcement 12-56To: All Correspondent Sellers
 As directed by the Federal Housing Finance Agency (FHFA), the Government Sponsored Enterprises
 ("GSEs") are required to increase the gua...

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12-55: Flood certification - life of loan conversion fee

  • September 06, 2012

Announcement 12-55To: All Correspondent SellersPennyMac currently does not charge a life of loan flood conversion fee for LPS National
 Flood certifications. Effective Monday, September 17, ...

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12-54: Reminder: Rental Income Calculation and Payoff of Revolving Debt on Conforming

  • August 30, 2012

Announcement 12-54
 Rental Income Calculation
 PennyMac calculates rental income in accordance with Fannie Mae guidelines which require
 that the principal be considered along with th...

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12-53: Mandatory Forwards and Loan Level Bulk Mandatory Trades

  • August 30, 2012

Announcement 12-53To: All Correspondent SellersEffective September 4, 2012, for all Mandatory Forward and Loan Level Bulk Trades,
 sellers must execute the trade(s) over the phone with the Penny...

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12-52: Unacceptable File Delivery Process Change

  • August 24, 2012

Announcement 12-52
 Credit packages uploaded to PennyMac are reviewed to confirm the presence of the note, AUS certificate and
 appraisal, as required. These documents contain critical data e...

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12-51: Removal of Certain Overlays for Agency and FHA Loans

  • August 16, 2012

Announcement 12-51
 Effective immediately, PennyMac is pleased to announce the removal of the following overlays:
         Max LTV/CLTV: Pre...

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12-50: Update to FHA Streamline Refinance Program

  • August 03, 2012

Announcement 12-50
 Effective immediately, PennyMac updates the FHA Streamline Refinance Program as follows:
         Currently, 2-4 unit properties are pro...

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12-49: Note rate stack changes

  • August 01, 2012

Announcement 12-49To: All Correspondent SellersEffective Friday, August 3, 2012, we will lower the 30-year and 20-year Conventional
 Conforming note rate stacks. The lowest note rate will m...

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12-48: Changes to Commitment Policy

  • July 26, 2012

Announcement 12-48To: All Correspondent SellersEffective August 2, 2012, PennyMac will publish new Commitment Policy Guidelines in our
 Seller's Guide. The new policy has been updated to provide...

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12-47: Reminder: 2012 USPAP Requirements

  • July 20, 2012

Announcement 12-47
 The 2012-2013 edition of USPAP requirements contain several updates related to property
 valuation. PennyMac reminds Clients that each written real property appraisal report must co...

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