Home » Short Takes: Starting a Fire in the Mortgage Industry / Who to Blame? / Not Small Change / Tighter Standards from the Nation’s Fourth-Largest Lender
Meanwhile, the tightening bug is loose again. The broker division of PennyMac Financial Services just told its outside loan officers, “Effective for all conventional loans with applications received on or after August 14, 2020, PennyMac is limiting self-employed borrowers to a maximum of 70% LTV/CLTV for all transactions”…