16-47: Expanded Best Efforts Base Pricing
PennyMac is pleased to announce expansion of the Best Effort grids to include specialized base pricing for loan amounts less than 200K. Commencing with locks on or after Dec 12, 2016, PennyMac will expand the Best Efforts pricing grids for the programs listed below into the following seven loan amount buckets.
New Expanded Grids
| || |
The user experience on PennyMac’s Portal will not change as a result of this expansion. PennyMac’s Portal will use the Total Loan Amount and basic product type entry to look up the correct base price.
The new base price grid layout is attached to this announcement. The existing “Rate Sheet – BE” tab will be replaced with individual program-specific tabs. The LLPA and SRP tabs are not included in this sample as they are not changing.
Complete sample rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PST) on Wednesday, Dec 7th, 2016. Sample rate sheet(s) will be available for download shortly after the standard rate sheet email notification is sent from ‘PennyMac Correspondent Pricing’ <Send email to ["donotreply"].>.
Note: Sample rate sheet(s) posted to the Portal after 6:00 PM (PST) are intended only to communicate the rate sheet changes as described above. Loan program base pricing will be blank. Rate sheets posted the following morning will be effective for new commitments on Dec 8, 2016.