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21-34: Non-Delegated Quick Reference Guide Update
PennyMac has updated our Non-Delegated Quick Reference Guide which contains important information to reference when working with PennyMac.
21-33: April 30, 2021 Deadline for New Legacy URLA Loan S...
Freddie Mac and Fannie Mae (the GSEs) have published a joint Uniform Loan Application Dataset/Uniform Residential Loan Application (ULAD/URLA) anno...
21-32: Freddie Mac Bulletin 2021-12
PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2021-12, with the exception of the community land trust requirements. Updates...
21-31: Updates to Best Efforts Rate Sheet
Effective for all Best Effort commitments taken on or after April 21, 2021, PennyMac will make the following changes to the BE rate sheet:
21-30: Freddie Mac Bulletin 2021-9
PennyMac is aligning with Freddie Mac’s updates announced in Bulletin 2021-9, with the exception of the POA updates due to existing overlays. Updat...
21-29: Fannie Mae HomeReady and Freddie Mac Home Possible...
Currently, PennyMac offers the Fannie Mae HomeReady and Freddie Mac Home Possible Programs with a 30 year loan term only.
21-28: UCD Requirements for a changed AUS (DU to LPA)
PennyMac reminds Correspondents that for transactions where the loan was initially submitted to Fannie Mae DU but is underwritten and delivered wit...
21-27: Non-Delegated Conventional Self-Employed Borrower ...
Currently, all Non-Delegated conventional loans qualifying with self-employed borrower income have LTV/CLTV limitations that differ from the standa...
21-26: Updates to Conventional LLPAs
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, April 12, 2021, as follows:
21-25: AVM Options for VA IRRRLs and Reuse of AUS Case Fi...
VA IRRRL transactions require the current value to be determined by the use of several options including Automated Valuation Models (AVMs).
21-24: Updates to Conventional LLPAs
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Monday, March 29, 2021, as follows:
21-23: Hours of Operation for Good Friday Holiday
Please note the hours of operation for Best Effort, Bulk and Bulk-AOT commitment options:
21-22: Reinstatement and Reminder Regarding Tax Transcripts
PennyMac is reinstating the requirement for tax transcripts effective with loan applications on or after June 17, 2021. When required, 2020 tax tra...
21-21: Introducing Weekend Lock Availability
PennyMac will begin accepting locks over the weekend starting Saturday, March 20, 2021.
21-20: Revised Announcement #21-12 Conventional Self-Empl...
PennyMac is aligning with the updated Fannie Mae and Freddie Mac COVID FAQ’s on profit and loss statement requirements when the complete 2020 Feder...