18-17: Updates to Conventional and Jumbo LLPAs
Updates to Conventional LLPAs
PennyMac will be increasing the minimum loan amount for the Investment Property Special LLPA to $175,000 from the current $125,000 effective for all Best Effort and AOT-DT commitments taken on or after Wednesday, April 11, 2018.
Updates to Jumbo LLPAs
Effective Wednesday, April 11th, 2018, the following changes will be made to the Jumbo LLPAs on the Best Effort rate sheet:
- Updates to various Jumbo LLPA values
- Rename “Jumbo LLPAs” tab to “Nonconforming LLPAs”
- Change the label “FICO/CLTV LLPAs” to “FICO/HCLTV LLPAs”
- Change the labels “LTV Range” to “HCLTV Range”
A sample of the updated Best Effort and AOT-DT rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) on Wednesday, April 4, 2018 with updates highlighted in yellow. 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 PM (PT) are intended only to communicate the rate sheet changes as described above. Loan program base pricing will reflect as blank. Rate sheets posted the following morning will be effective for new commitments.
Please contact your Sales Representative with any questions.