20-77: Updates to Conventional LLPAs
PennyMac will make updates to the Conventional LLPAs effective for all Best Effort commitments taken on or after Friday, November 27, 2020, as follows:
- Update values on the Conventional LLPA ‘Cashout Refinance’ Grid
- Remove ‘High Balance Loan Amount <= 536,000’ adjustment in the ‘High Balance Mortgage Loans’ grid
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) today, November 24, 2020. 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.