Announcements

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03.01.21

21-13: Updates to Best Efforts LLPAs

Effective for all Best Effort commitments taken on or after March 3, 2021, PennyMac will make the following changes to the Best Efforts rate sheet

02.18.21

21-12: Conventional Self-Employed Income Documentation Re...

PennyMac aligns with the guidance given in the Fannie Mae Lender Letters 2020-03 dated May 28, 2020 and November 13, 2020 and Freddie Mac Bulletins...

02.17.21

21-11: Updates to Government LLPAs

PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Tuesday, February 23, 2021, as follows:

02.11.21

21-10: Freddie Mac Bulletin 2020-45 LTV for Home Possible...

Effective with loans delivered on or after 3/1/2021, PennyMac is aligning with the reduction to the maximum LTV for Home Possible Mortgages secured...

02.08.21

21-09: Fannie Mae SEL 2020-07

PennyMac is aligning with Fannie Mae SEL 2020-07 dated 12/16/2020, with the exception of the updates on single-width manufactured homes and communi...

02.05.21

21-08: Hours of Operation for Presidents’ Day Holiday

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

02.05.21

21-07: Updates to Best Efforts Rate Sheet

Effective for all Best Effort commitments taken on or after February 10, 2021, PennyMac will make the following changes to the BE rate sheet

01.27.21

21-06: Non-U.S. Citizens

PennyMac is aligning with FHA INFO #21-04 which announces that effective January 19, 2021, its permitting individuals classified under the “Deferre...

01.27.21

21-05: Revised Announcement #21-04: Non-Delegated Updates...

Revision January 27, 2021: Effective for all Non-Delegated conventional loans qualifying with self-employed borrower income with locks or submitted...

01.22.21

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...

01.12.21

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.

01.07.21

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...

01.05.21

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:

12.30.20

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:

12.23.20

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...