PennyMac Warns Mortgage Originators that Forbearance Buybacks Could be Coming

HousingWire, Apr. 6, 2020–Ben Lane
Late last week, PennyMac, which grew last year into the largest mortgage aggregator in the country, told its correspondent originators that it will not buy any loan that is currently in forbearance. Beyond that, PennyMac also said that it may force originators to buy back a loan that goes into forbearance within 15 days of PennyMac buying it.