Announcements - Page 2

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04.03.20

20-22: Loans in Forbearance

The COVID-19 epidemic has caused unprecedented disruption to the lives and incomes of many current and prospective mortgage borrowers throughout th...

04.03.20

20-21: Hours of Operation for Good Friday Holiday

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

04.02.20

20-20: Fannie Mae Update to Lender Letters 2020-03 and 20...

PennyMac is aligning with Fannie Mae’s updated announced in the revised Lender Letter 2020-03 and 2020-04 dated March 31, 2020, and the updates ann...

03.31.20

20-19: Updates to Low LTV Special

Effective Wednesday, April 1st, 2020, PennyMac will be updating the values for the Low LTV Special pay-up on the ‘Conv LLPA’ page of the Best Effor...

03.31.20

20-18: Updates to Government Loans Due to Covid-19

Effective immediately, for all VA transactions requiring an appraisal, PennyMac is aligning with the appraisal and other flexibilities offered by V...

03.27.20

20-17: Updates to Government LLPAs

PennyMac will make updates to the Government FICO LLPAs effective for all Best Effort commitments taken on or after Monday, March 30, 2020.

03.26.20

20-16: Revised Updates to Government LLPAs

PennyMac has revised the updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, March 27, 2020. New va...

03.26.20

20-15: Suspension of Tax Transcript Overlay

Effective immediately, PennyMac is temporarily suspending the PennyMac requirement for tax transcripts. Note that USDA transactions require tax tra...

03.25.20

20-14: Updates to Government LLPAs

PennyMac will make updates to the Government LLPAs effective for all Best Effort commitments taken on or after Friday, March 27, 2020, as follows...

03.24.20

20-13: Bulk AOT Suspended

Given the current market condition and extreme market volatility, PennyMac will be suspending the Bulk AOT delivery method effective immediately.

03.23.20

20-12: PennyMac COVID-19 Response

PennyMac understands that current conditions are providing unique challenges to the loan origination process. As such, PennyMac is announcing the f...

03.19.20

20-11: LIBOR ARMs Suspended

Effective with locks on or after March 21, 2020, PennyMac is temporarily suspending the purchase of all LIBOR ARM loans including Conventional Stan...

03.17.20

20-10: Correspondent Pricing Email Contacts

Due to increased volume and resulting call traffic, we would like to encourage clients to use the following email address contacts to ensure effici...

03.17.20

20-09: Updates to Investment Property Special

Effective Wednesday March 18th, 2020, PennyMac will be updating the values for the Investment Property Special pay-up on the Best Efforts rate shee...

03.03.20

20-08: Fannie Mae SEL-2020-01, Lender Letter LL-2020-01 a...

PennyMac is aligning with Fannie Mae’s most recent Selling Guide updates in SEL-2020-01, Lender Letter 2020-01, and Freddie Mac’s Bulletin 2020-01,...