10/14/2026
Pennymac would like to reiterate Freddie Mac’s Bulletin 2026-10 announced retirement of “Assets as a Basis for Repayment of Obligations”. Effective February 3, 2027, for all Pennymac mortgage products, and mortgage products delivered to Freddie Mac, this income type is no longer eligible to use for qualifying.
What does this mean?
- Loans using “Assets as a Basis for Repayment of Obligations” as a qualifying income source must be delivered to Pennymac on or before 12.04.2026. The last day for Pennymac to purchase these loans is 12.31.2026.
- Accumulated Assets as Income may be adopted immediately and will replace its predecessor in the Freddie Mac seller guide under the February 3, 2027, revision.
Note: Accumulated Assets as Income is excluded from AUS Jumbo product eligibility.
Key Highlights for Accumulated Assets as Income:
- Must be an Accept mortgage; limited to purchase or no cash-out refinances.
- Minimum net eligible assets set to $30,000.
- All occupancy types are eligible and include Home Possible and HomeOne mortgages.
- LTV caps align with program limits and are no longer capped at 80%.
- Calculation divisor reduced from 240 to 180 months.
- 62 year age restriction for depository and securities accounts is removed.
- Accounts must be owned for at least 12 months with penalty-free access as of the note date.
- Depository accounts are subject to a 20% balance variation rule unless caused by documented eligible transfers or property/business sales.
- Third-party verification reports are now accepted.
See product profiles and the Freddie Mac Seller Guide for full details.
Please contact your Sales Representative with any questions.