Pennymac TPO

Basic information

QM program

• Conventional
• Home One
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA 203(b)
• VA
• VA IRRRL
• VA High Balance
• VA Jumbo
• USDA

Loss payee

PennyMac Loan Services, LLC Its Successors and/or Assigns P.O. Box 6618 - Springfield, OH 45501-6618

CPL or subordinate clause

PennyMac Loan Services, LLC 3043 Townsgate Rd., Suite 200 Westlake Village, CA 91361

Lock policies & fees

Lock policies

Lock extension

Lock Extension Cost 1+ Days (per day) 0.025

Relock

Relock Term 15 Days 0.250 30 Days 0.500

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

Amazing Jumbo Pricing!

Incredible Jumbo, Conventional, FHA, and VA Pricing

Help turn your clients' home equity into cash, while still preserving the low interest rate on their first mortgage* with a Pennymac Home Equity Loan. Learn more below:

Immediate access to funds
Lump-sum disbursement
Fixed interest rate and fixed monthly payments
Can be used to consolidate debt, pay for college tuition, etc.
Potential savings on interest and lower monthly payments when used to pay off expensive debt

No full appraisal requirement on eligible loans with an accepted Pennymac Automated Valuation Model (AVM)
Primary residence only
Fixed-rate term structures of 10, 15, 20, or 30 years
Up to 85% loan-to-value (LTV)
Up to $500,000 loan amount (minimum $75,000)
Debt can be paid off to qualify

Most recent 1 year of income to qualify including Self-Employed
Plus, our Home Equity Loan product is eligible for full broker-paid or lender-paid compensation.

Allow lender credit to cover BPC: On purchases and cashouts, any portions of the lender credit can be used to offset the BPC. On rate & term refinances (including Streamlines and IRRRLS), the lender credit must cover the BPC in full.

Lender's overlays

agency-overlay-matrix.pdf

government-overlay-matrix.pdf

Manufactured home is not available for DSCR.

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

1

Initial CD (days)

1

Reviews