FAQs

Can I do a mortgage recast with any principal payment amount?

No. The amount paid to principal must be at least $10,000 and in a lump sum payment and must be sent in by certified funds or wire. Please note that for payments NOT received via certified funds or wire, Pennymac will request bank statements and it may delay the overall processing time for the recast. If you are ready to start the recast process, give us a call at 800.777.4001. Click here to see if your loan is eligible before sending in your payment.