19-40: New Bulk Bid Tape Fields and Update to Conventional LLPA
New Bulk Bid Tape Fields
Effective for all Bulk bid tapes submitted on or after Thursday July 18, 2019, PennyMac will be requiring the following fields to be populated:
Bids tapes not containing the required fields on or after this date will be subject to price adjustments post loan delivery, if applicable.
Introduction of New Conventional LLPA
Effective for all Best Effort and AOT-DT commitments taken on or after July 18, 2019, PennyMac will introduce a new Conventional LLPA to be applied to Freddie Mac LPA approved loans with appraisal waivers. The LLPA will appear on the ‘Conv LLPAs’ tab.
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) today, July 11th, 2019. Sample rate sheet(s) will be available for download shortly after the standard rate sheet email notification is sent from ‘PennyMac Seller 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.