19-08: Update to the BE Rate Sheet Interest Rate Structure
Conventional 25/30 Yr Fixed
PennyMac will be introducing the 4.990% interest rate for Conventional 25/30 Year Fixed products onto the Best Effort rate sheet. The Best Effort rate sheet to be published on Friday, January 25, 2019 will include the 4.990% note rate between the 4.875% and 5.000% note rates and will omit the 4.000% note rate for Conventional 25/30 Year Fixed products only. The following Best Effort grids will be impacted by this shift in interest rates:
Nonconforming Non-QM 30 Yr Fixed
PennyMac will be expanding the note rate offerings for the Nonconforming Non-QM 30 Year Fixed product. Also effective Friday, January 25, 2019, PennyMac’s Nonconforming Non-QM 30 Year Fixed product grid will display pricing for the 4.750% through 6.750% interest rates.
Complete sample rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PST) on Friday, January 18, 2019. 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 6:00 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
Please contact your Sales Representative with any questions.