fundamentals Articles  Page 3

One of the biggest challenges of applying for a mortgage or a refinance is getting the right documents to the right place. Learn more about the paperwork your lender will need and how to prepare for it.

February 25, 2018

Learn about the Universal Residential Loan Application (form 1003) and what information you will need to provide during the mortgage process.

February 1, 2018

Pennymac explains how mortgage processing works, including important ways you can help your home loan processor complete your file quickly and accurately.

January 31, 2018

What happens when your loan is sold to another lender? Pennymac explains mortgage servicing rights and what borrowers should know about loan servicing transfer.

January 31, 2018

Pennymac issues the Year End Statement (also known as a Form 1098 or annual tax statement) annually to mortgagors for income tax reporting purposes. This statement includes the total amounts for interest paid and property taxes paid from your escrow account (if you have one) for the entire year.

January 30, 2018

Automated Valuation Models work hand in hand with formal appraisals to show you what your home is really worth. Learn why both are necessary to the lending process.

January 4, 2018

Learn about the hidden and unexpected costs that can make a huge difference in how much house you can afford with your salary.

November 28, 2017

If you need to get out from under your mortgage, a short sale might be the answer. Learn how short sales can be preferable alternatives to foreclosure.

November 27, 2017

Learn why mortgages are sold, what that means for your loan, your rights and responsibilities and how to ensure your loan remains in good standing.

October 10, 2017