Responsible Lending

Overview

The information contained in this topic should not be deemed to constitute the provision of legal advice from PennyMac.

Seller clients should refer to Regulation Z, Section 1026.32, the “Homeownership and Equity Protection Act”, and their legal counsel for further information, interpretation and/or related federal, state and jurisdictional requirements.

PennyMac prohibits the financing of any premiums or fees for credit insurance (such as credit life insurance) or a single fee debt cancellation agreement.

Credit insurance includes: credit life, credit disability, credit unemployment, or credit property insurance, or any other accident, loss of-income, life, or health insurance, or any payments (directly or indirectly) for any debt cancellation or suspension agreement or contract.