Non-Delegated Quick Reference Guide
2024
CO NF IDE NT IAL & PROPRIETARY
As one of the fastest growing lenders and largest non-bank correspondent lenders, we are focused on building a best-in-class Non-Delegated
program. This Non-Delegated Quick Reference Guide contains everything you need to know for selling mortgage loans with Non-Delegated
underwriting to Pennymac.
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To receive rate sheet notification emails, select
the Seller Rate Sheet Only role in the P3 Portal.
Contact Information
Group
Pricing Desk Pipeline Account Manager
CORR.PENNYMAC.COM
Purpose for
Contact
Loan pricing, BE
locking,Portal/
Website support
Loan status, general
issues, delivered
loans, open
conditions
- Access to P3
- “Search” option
- Product Guidelines: Agency, FHA, VA
- Announcements
-
Resources > Non-Delegated: Submission
form, Overlays, Non-US Citizen
Documentation requirements
- ND User Guides: Portal/Credit
- Submission/Closed Loan Delivery ppts
Phone
800-PENNY38 (800-736-6938)
(option 1)
800-PENNY38 (800-736-6938)
(option 2)
Email
Hours
Mon-Fri
7am PT - 5pm PT
Mon-Fri
5am PT - 5pm PT
Pennymac updates ratesheets daily by
7:00 a.m. Pacific Time (PT).
Loan Pricing, BE Locking,
Portal/Live Support:
All the best efforts
questions:
Lock Time Mon-Fri Hours:
Lock Time Weekend Hours:
Mon-Fri 7:00am PT- 5:00pm PT
7:00 am PT- Midnight PT
6:00 am PT- Midnight PT
P3 website support: PCG.web.support@pennymac.com
Pipeline Account Manager (PAM)
Contact your AE for your Credit
Submission(PAM) Prior to registering/ locking
a loan
ID Numbers
Pennymac Loan Services, LLC
MERS ID: #1007159
VA Sponsor ID: 902380-00-00
Turn Times
See page 3
Contact your AE for your Closed Loan
Delivery (PAM) Prior to purchase
FHA Lender ID Number: 28095- 00006
Pennymac Loan Services, LLC
3043 Townsgate Rd.
STE 200 Westlake Village, CA 91361
CO NF IDE NT IAL & PROPRIETARY
Submission & Turn Times
For FHA, VA, Conventional, and Jumbo
Click for Submission Checklist and scroll down to
Non-Delegated Forms and Tools
Turn Times (Based On Complete File Submission
or Documents Uploaded By 2pm PT/5pm ET)
Contact your Pipeline Account Manager or Account
Executive for questions
Non-Delegated fees
Underwriting Fee: Conv, FHA, VA, Jumbo
Transfer Fee: Conv, FHA, VA, Jumbo
Tax Service
Life of Loan Flood Conversion Fee
$495
$295
$75
$5
• FHA UFMIP: Case Query to evidence payment (see product
profile)
• Correspondents must be set up to make UFMIP payments
through HUD prior to submitting FHA loans. Click here to get
started on submitting UFMIP payments.
• FHA XML Appraisal emailed to Credit Submission PAM.
• CAIVRs (FHA & VA) Authorization:
•
The correspondent is responsible for evidencing a clear
CAIVRs at the time of file delivery.
Government Additional Requirements
FHA Connection: Reflected in the name of Pennymac Loan
Services, LLC 3043 Townsgate Rd, Ste 200, Westlake Village,
CA 91361
Important Information
Condo Delivery Restrictions
No New Construction of Gut Rehabilitation Projects
allowed. Conventional require Agency/ PERS Approval.
Government requires HUD or VA approval (see Product
Pro files for more details)
•FNMA/PERS:
https://www.fanniemae. com/
singlefamily/ project-eligibility-review-service
•FHA: https://entp.hud.gov/idapp/html/condlook.cfm
•VA: https://lgy.va.gov/lgyhub/condo-report
Mortgage Insurance
Contact your Account Executive to access our
competitive MI rates with our best-x tool, OptiMIze
TM
or
order from your preferred MI provider.
POA and Trust Review Available
Correspondents may submit executed or non executed
Power of Attorney documents and/or Trust documentation
for review and approval.
VA Appraisal
The correspondent must initiate the Appraisal order via LGY Hub
and and input the email address V[email protected] into
LGY Hub to ensure we are notified once the Appraisal has been
completed.
VA Cash-Out Transactions
Comparison Certification is required
along with supporting documentation. See Loan Submission
Form and product profiles for further details.
VA Funding Fee
Pennymac will pay the VA Funding Fee and net the wire at
Purchase.
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CO NF IDE NT IAL & PROPRIETARY
Collateral & Delivery
Instructions
Note and Allonge Endorsement
The original of the Note must bear the following
endorsement:
PAY TO THE ORDER OF PENNYMAC LOAN SERVICES,
LLC, WITHOUT RECOURSE
Note, Allonge and Bailee-shipping label
Deutsche Bank National Trust Company
Attn: Mail Center 4
1761 E. Saint Andrew Place
Santa Ana, CA 92705
Pre-Purchase Allonge-shipping label
(shipped to address below if shipped alone)
Deutsche Bank National Trust Company
Attn: Team Pennymac/Funding
1761 E. Saint Andrew Place
Santa Ana, CA 92705
Seller Guide — Important to know
•Announcements https://www.gopennymac.com/non-delegated-announcements
•Loan Defect
https: /gopennymac.com/tools/non-delegated-resources/loan-defects
•Early Pay Off and Early Unpaid Principal Balance 30%–Announcement 19-44
https: /gopennymac.com/announcements/19-44-announcement-8-2-2019
•Pull-through– BE Commitment Cancellation and pair-off
https: /gopennymac.com/tools/non-delegated-resources/commitment- cancellation-and-pair-off
•Purchase Delivery Dwell Time Guidelines & Late Delivery Roll Fees Calendar Days
https: /gopennymac.com/tools/non-delegated-resources/mortgage- loan- delivery-late-and-defective
•Quarterly Requirements-unaudited financial statements
•Annual Requirement-audited financial statements or tax returns and year end unaudited statements.
Delivery Notes & Interest Credits
Interest Credits at Closing
Pennymac will allow interest credits at closing through the seventh calendar day of the month in which the mortgage
loan is closed.
Important Notes
•Original Note and Allonge/Endorsement should be shipped together within 24 hours of delivering loan for purchase.
•If the Original Note and Allonge/Endorsement are shipped separately, the Allonge should be shipped to:
Attn:Team Pennymac/Funding at the same address.
•Request Original Notes/Allonges to be delivered to Deutsche Bank for AM delivery. Deutsche Bank dry time is 48 hours
with a 10:00am PT delivery cutoff.
•Ensure Bailee Letter is part of shipment to Deutsche Bank.
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CO NF IDE NT IAL & PROPRIETARY
General Information
Goodbye letter
Pennymac Loan Services, LLC
P.O. Box 30597
Los Angeles, CA 90030-0597
Hazard & Flood Insurance
Mortgagee Clause
Pennymac Loan Services, LLC Its
successors and /or assigns
P.O. Box 6618
Springfield, OH 45501-6618
Private Mortgage Insurance
Pennymac Loan Services, LLC
6101 Condor Dr.
Moorpark, CA 93021
Vendor Notifications
Taxing Authorities
Pennymac Loan Services,
LLC Its successors and/or
assigns as their interest may
appear
Loan number
3001 Hackberry Rd.
Irving, TX 75063-0156
Final Docs
Invoice Payments - Wire Instructions
City National Bank
ABA#: 122016066
Account#: 555103662
555 S.Flower St.
Los Angeles, CA 90071
Invoice Payments - Mail
Pennymac Corp.
P.O. Box 669
Moorpark, CA 93020-0669
Corporate Office
Pennymac Corp.
3043 Townsgate Rd. Ste. #300
Westlake Village, CA 91361 866.695.4122
Approvals, Certifications &
Organization Changes
Pennymac Corp.
ATTN: Client Approval Department
112 Lakeview Canyon Rd. Ste. #130
Thousand Oaks, CA 91362
Borrower/Payment Information
Payment Remittance
Borrower Payments, Curtailments,
Escrow Funds, etc.
For the Following States:
AK, AR, AZ, CA, CO, HI, IA, ID, KS,
LA, MN, MO, MT, ND, NE, NM, NV,
OK, OR, SD, TX, UT, WA, WY
Pennymac Loan Services, LLC
P.O. BOX 30597
Los Angeles, CA 90030-0597
For the Following States:
AL, CT, DC, DE, FL, GA, IL, IN, KY,
MD, MA, ME, MI, MS, NC, NH, NJ,
OH, PA,RI, SC, TN, VA, VT, WV, WI.
Pennymac Loan Services, LLC
P.O. Box 660929
Dallas, TX 75266-0929
Overnight Address:
ATTN: Lockbox Operations
P.O. Box 30597
20500 Belshaw Ave.
Carson, CA 90746
Correspondence
Pennymac Loan Services, LLC.
ATTN: Correspondence Unit
P.O. Box 514387
Los Angeles, CA 90051-4387
*Notices of error or information requests must
be mailed to this address
Customer Service
Requests for loan payoff statements
Phone: 800-777-4001
Mon to Fri: 6:00am - 6:00pm PT
Sat: 7:00am - 11:00am PT
Deutsche Bank National
Trust Company
ATTN: Team Pennymac/
Correspondent Final Documents
1761 E. Saint Andrew Pl.
Santa Ana, CA 92705
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Equal Housing Opportunity © 2024 PennyMac Loan Services, LLC, 3043 Townsgate Rd, Suite 200, Westlake Village, CA 91361, 818-224-7442. NMLS ID # 35953. For licensing information go to www.nmlsconsumeraccess.org. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates.
Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions.
Arizona Mortgage Banker License # 0911088. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Colorado office: 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Massachusetts Mortgage Lender License # MC35953.
Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. §47.206 (3) & (4). Licensed by the N.J. Department of Banking and Insurance. Licensed Mortgage Banker-NYS Department of Financial Services. North Carolina Permit No. 119504607, 119505929, 119506567, 119506570,
119507419. Rhode Island Licensed Lender License # 20092600LL, Loan Broker, and Third Party Loan Servicer. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. For more information, review https://tpo.pennymac.com/state-licenses. Co-op loans not available. Some products may not be available in all
states. Information, rates and pricing are subject to change without prior notice at the sole discretion of PennyMac Loan Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions apply. All rights reserved. (01-2024)
