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21-04: Non-Delegated Updates to Self-Employed Borrower LTVs
Effective for all Non-Delegated conventional loans qualifying with self-employed borrower income submitted for eligibility review on or after Janua...
21-03: IRS Form 4506-C, IVES Request for Transcript of Ta...
As announced in Fannie Mae SEL-2020-07, IRS Form 4506-T is being phased out for use by third parties in early 2021.
21-02: Extension of COVID-19 Flexibilities for All Progra...
Effective immediately and until further notice, PennyMac will align with all Fannie Mae, Freddie Mac, FHA, VA, and USDA announced extensions of exi...
21-01: Hours of Operation for Martin Luther King Jr. Day ...
Please note the hours of operation for Best Effort, Bulk, and Bulk-AOT Commitment Options:
20-83: Updates to Government LLPAs
Effective for all Best Effort commitments taken on or after January 6, 2021, PennyMac will make the following changes to the BE rate sheet:
20-82: FHA and VA Loan Limit Increase for 2021
Per FHA ML 20-41, effective with case numbers assigned on or after January 1, 2021, PennyMac is aligning with FHA’s increase to the floor and ceili...
20-81: Use of the Redesigned Loan Application (URLA)
As announced in Fannie Mae lender letter 2020-10 and Freddie Mac Bulletin 2020-26, PennyMac will be accepting the redesigned URLA and associated AU...
20-80: Hours of Operation for December 2020 Holidays
Please note the hours of operation for Best Effort, Bulk and Bulk-AOT commitment options:
20-79: Updates to Conventional LLPAs
Effective for all Best Effort commitments taken on or after December 16, 2020, PennyMac will make the following changes to the BE rate sheet:
20-78: Fannie Mae and Freddie Mac Conforming Loan Limit I...
The Housing and Economic Recovery Act of 2008 (HERA) established the baseline loan limit of $417,000 and requires this limit to be adjusted each ye...
20-77: Updates to Conventional LLPAs
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Friday, November 27, 2020, as follows
20-76: Freddie Mac Bulletins 2020-43 and 44, Fannie Mae L...
PennyMac is aligning with Fannie Mae and Freddie Mac’s extension of COVID-19 related flexibilities for conventional transactions including buying l...
20-75: Reminder of MERS Requirements Clarification
This announcement is to clarify announcement 20-65 which was missing one of the MERS ID numbers.
20-74: Hours of Operation for Thanksgiving Holiday 2020
Please note the hours of operation for Best Effort, Bulk and Bulk-AOT Commitment Options
20-73: Government Loan Seasoning and Disasters
Correspondents are reminded that Ginnie Mae seasoning requirements must be met on all government insured/guaranteed loans.