Loan impact
Summarized from the announcement · needs reviewApplies to: Freddie Mac loans needing pipeline pricing coverage and conventional mortgages evaluated under updated median income limits.
- Addressed to
- Pennymac correspondent sellersFrom the publisher, not quoted from the text
- Investor
- PennymacFrom the publisher, not quoted from the text
- Affected areas
- Contracts; General
- Affected documents
- Automated underwriting findings certificate
- Exceptions
- Loans submitted to automated underwriting prior to June 13, 2026, which remain under 2025 median income limits.
- Effective
- Jun 30, 2026
- Applicability confidence
- Needs review: some rows could not be matched to a quote from the source
Summary by AWACS. Pennymac Correspondent's guide is proprietary, so AWACS does not reproduce its text. Read the official announcement ↗ (opens in a new tab)
What changed
Summarized from the announcement| Requirement | Previously | Now |
|---|---|---|
| Freddie Mac pipeline fee protection delivery and purchase cutoffTightenedRequired | Not stated | Eligible mortgages must be delivered by June 30, 2026, and purchased by July 14, 2026. |
| Submission of underwriting findings for pricing adjustmentsNew | New requirement | Lenders must send an automated underwriting certificate to the lock desk upon delivery to receive 2025 fee cap pricing. |
| GSE median income limits updateClarified | Previously: Automated underwriting systems utilized 2025 income limits. | Systems will evaluate newly created or submitted loan files against 2026 income figures. |
What to do
AWACS interpretation · not source languageWhat to review: Review the mandatory June 30, 2026 delivery and July 14, 2026 purchase deadlines for Freddie Mac pipeline fee cap coverage first, followed by the June 13, 2026 rollout of 2026 GSE area median income limits and automated underwriting certificate submission rules.
Deliver eligible Freddie Mac mortgages requiring pipeline fee protection by June 30, 2026, to ensure purchase by July 14, 2026.
QC implications
- Verify that Freddie Mac loans seeking pipeline fee cap protection met the June 30, 2026 delivery cutoff and were purchased by July 14, 2026.
- Confirm that automated underwriting findings certificates are provided to the lock desk upon delivery when requesting 2025 fee cap pricing.
- Sample loan files to check that automated underwriting submissions on or after June 13, 2026 apply the 2026 median income limits.
Source and record
Version 1 · archivedChecks
Source verified: Passed
The document ID, link and publication date match the official source.
Quotes match the source: Passed
Every quoted passage appears word for word in the official document.
Requirements backed by the source: Passed, adjusted automatically
Anything marked required is backed by the requirement language and dates in the source.
- A detail the source does not support was removed or adjusted
In scope: Passed
The document is about residential mortgage lending.
Format and labels: Passed
The record follows the AWACS format and uses its standard labels.
Source
- Correspondent Announcement 26-58 (official) ↗ (opens in a new tab)
- Archived copy, SHA-256 a5415c327736…
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