15-33: Updates to Conventional Loan Level Price Adjustments on Best Efforts Rate Sheet
Please be advised that PennyMac is implementing numerous updates to Loan Level Price Adjustments (LLPAs) for Conventional loan programs on the Best Efforts rate sheet only. A sample of the impacted LLPA tabs on the rate sheet has been posted below with updates highlighted in yellow. Please be advised the following LLPAs have been removed and are no longer reflected in the sample:
- Adverse Market Delivery Charge for all loan attributes
- “High LTV” attribute in the “LLPAs by Product Feature” grid
- Entire grid for “Loan Prospector (LP) AUS Adjustments (Mortgage > 15 Year Terms)”
Updates will be effective for all Best Efforts commitments taken on or after Monday, July 6th, 2015. Rate sheet will reflect updated values beginning on the same date. Corresponding updates to PennyMac Conventional LLPAs on the Mandatory rate sheet will follow in the coming weeks.
Please contact your Sales Representative with any questions.