18-55: Updates to FHLMC Home Possible and Home Possible Advantage
Effective Friday, December 7th, 2018, PennyMac will be implementing the following updates to the Best Effort rate sheets in accordance with the consolidation of the FHLMC Home Possible and Home Possible Advantage programs referenced in PennyMac Correspondent Announcement 18-43:
- Addition of the Home Possible HB loan program
- Removal of Home Possible Advantage programs
- Update to footnotes 3 and 5 under the Conventional LLPAs
In addition, the updated FHLMC Home Possible product profile can be found on gopennymac.com at the following link: PennyMac FHLMC Home Possible Product Profile.
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) Friday, November 30th, 2018. Sample rate sheet(s) will be available for download shortly after the standard rate sheet email notification is sent from ‘PennyMac Correspondent Pricing’ <firstname.lastname@example.org>.
Note: Sample rate sheet(s) posted to the portal after 6 PM (PT) 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.
Please contact your Sales Representative with any questions.