Products & programs

Competitive Features
Value Verify™
Perfect Rate
Perfect Term
OPTIMIZE
EPMI
Net Escrows

PennyMac is proud to provide programs and processes that many others simply don’t have access to. These differentiators make you, our broker partners, more competitive in the market and more successful on your loans.

Feature
Highlights
Feature
Value Verify™

An exciting new way to validate property value without a traditional appraisal that can save significant time and money!

We leverage Fannie Mae’s extensive database and analytical capabilities to provide an incredible second-chance opportunity to save on valuation when loans don’t get an Appraisal Waiver (formerly a “PIW”).

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Highlights
  • SMARTER PROCESS: Eligibility is determined through DU, so there’s no guessing or complex guidelines to adopt. A significant percentage will not require an appraisal!
  • REDUCED COSTS: Inspection = $175. A 1004P may be required to validate value, but PennyMac handles that order and covers 100% of the additional cost.(1)
  • QUICKER CLOSINGS: The Value Verify™ process can reduce the loan process by several days. The initial inspection is very efficient and typically takes 2-4 business days!
Feature
Perfect Rate

Don’t get stuck selling rates at the eighths! PennyMac has the most sophisticated pricing engine in the industry, along with top experts in capital markets. This allows you to fine tune pricing down to the thousandth for your customers on fixed-rate loans!

Highlights
  • Tailor rates down to the thousandth
  • .321%, .917%, .888%? You name it!
  • Available on Conventional and Govt. fixed-rate loans(2)
Feature
Perfect Term

With the ability to customize down to the month, you can be confident your borrowers will get the Perfect Term for their situation.

Highlights
  • More flexibility = more successful solutions
  • 293 months? Sure!
  • Available on fixed-rate loans nationwide
Feature
OPTIMIZE

A POWERful best-x solution engineered to provide the best possible mortgage insurance pricing for your borrowers. OPTIMIZE takes the guesswork out of the MI selection process.

Highlights
  • Automatically delivers the most competitive pricing
  • Lender-Paid - Best-x search between all LPMI and EPMI options
  • Borrower-Paid - Best-x search between all BPMI options
  • Industry-leading MI rates
Feature
EPMI

Enterprise-Paid Mortgage Insurance (EPMI) is a new option available on loans with LTVs over 80%. It many scenarios, EPMI provides a lower initial monthly payment for borrowers. The process eliminates redundant reviews, leading to a simplified borrower experience and streamlined operations.

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Highlights
  • Alternative to BPMI and LPMI for loans over 80% LTV
  • Competitive pricing is a key factor for EPMI
  • No separate MI underwriting or certificate process required, which streamlines operations
  • Works no differently than LPMI, so there’s no learning curve or system changes to struggle with
  • Only DU-approved loans can qualify for EPMI
Feature
Net Escrows

With over 1.5 million consumers in PennyMac’s servicing portfolio, certainly you run into loans we service. Together we can help those refinance customers by applying the funds from their existing impound account as a credit toward impounds on the new loan.

Highlights
  • Less cash to close!
  • Available on refinances of PennyMac loans
  • Escrow accounts are netted from the pay-off
  • Works no differently than LPMI, so there’s no learning curve or system changes to struggle with
  • Incredible benefit of working with one of the largest servicers in the industry

1Special introductory offer; subject to change.
2May not be available for all note rates on Govt. loans. Call for more details.

Are you approved with PennyMac yet?

Loan Products
Conventional
  • DU and LPA allowed
  • Fixed rate & ARM options (standard & high-balance)
  • Flexible terms from 85 to 360 months
  • FICO down to 620 with AUS approval
  • Appraisal waivers accepted
  • Up to 97% LTV for first-time home buyers (DU Only)
  • HomeReady® program available: Learn More
  • Enterprise Paid Mortgage Insurance (EPMI) available: Learn More
FHA
  • Down payment assistance allowed from government agencies
  • Fixed rate & ARM options (standard & high-balance)
  • Flexible terms from 120 to 360 months
  • No appraisal needed for FHA Streamline refinances
  • FICO down to 620 with AUS approval
VA
  • Standard VA LTV up to 100% including cash-out transactions
  • Fixed rate & ARM options available
  • Loan balances up to $1.5M with qualifying VA Guarantee
  • Flexible terms from 120 to 360 months
  • IRRRL LTV up to 110% plus allowable fees associated with new VA loans
Get started

Your success is our #1 priority. That's why we've built the best tools in the industry and backed them up with a team of leaders experienced in wholesale lending to support you every step of the way.

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