Editor’s Note: Pennymac Becomes The First Large Servicer To Launch VA’s New Loss Mitigation Waterfall
Pennymac announced that it is the first large servicer to successfully launch the U.S. Department of Veterans Affairs’ (VA) new Loss Mitigation Waterfall, which includes a VA Partial Claim option, deploying the solution nearly four months ahead of the VA’s November 28, 2026 required implementation date.
The rapid rollout demonstrates both Pennymac’s commitment to veterans and the strength of Plaisse, Pennymac’s best-in-class servicing platform, which was built by servicers for servicers. Pennymac has served more than 1.1 million veteran customers over the life of its business. Those with a current Pennymac-serviced VA loan who experience hardship can now be evaluated under the new waterfall.
“Being the first large servicer to launch this loss mitigation waterfall says a lot about the strength of Plaisse and the team behind it,” said Mark Acosta, Chief Servicing Officer at Pennymac. “We built and own our servicing platform, so we can move faster. We used that speed to get more relief options in front of Veterans, because a homeowner needs help the moment hardship hits.”
This autonomy is what lets the company move quickly on regulatory updates, the same way it did for its early market entries for the CARES Act and VASP programs. Pennymac’s compliance and operations experts rapidly translate complex policy updates into platform rules, allowing its tech teams to deploy compliant updates.
Homeowners with a VA loan who are experiencing hardship are encouraged to contact Pennymac’s loss mitigation team to review their options.
Tony Garritano is the founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 20 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting PROGRESS in Lending Association was the next step for someone like Tony, who has dedicated his entire career to providing mortgage executives with the information that they need to make informed technology decisions to help their businesses succeed.
