16-27: Removal of Mandatory Forward Delivery Method
PennyMac is removing the Mandatory Forward delivery method from its offering of commitment types. Best Effort, AOT/DT and Bulk will NOT be affected by this change. Please note important cutoff dates for Mandatory Forward below:
- Friday, 7/29/2016 – Final day Mandatory Forward commitments will be taken by PennyMac.
- Wednesday, 8/31/2016 – Final day to allocate loans to open commitments. No substitutions will be allowed after this date.
- Thursday, 9/1/2016 – Undelivered position of all open commitments will be paired off.
Please note, to support mark-to-market execution, market spots will be added to the existing BE rate sheet on 7/29/2016. They will appear as a new tab titled “Security Price Indications”.
Please contact your Sales Representative with questions or concerns about alternative delivery methods to support execution strategies.