19-59: Updates to Conventional LLPAs and VA Full Doc Price Adjustments
Effective for all Best Effort commitments taken on or after November 27, 2019, PennyMac will make the following changes to the BE rate sheet:
Updates to Conventional LLPAs
- Updated values on the Conventional ‘FICO/LTV LLPAs Cashout Refinance’ grid
- Expanded grid format and updated values on the Conventional LLPA ‘Risk Based Price Adjustments – FRM >20 Year Term’ grid
Updates to VA Full Doc Price Adjustments
- Update upper LTV boundary on the ‘VA Full Doc Price Adjustments’ grid
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) today, November 21, 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.