22-01: Best Effort Rate Sheet Restructure
PennyMac will restructure its Best Effort rate sheet effective Monday, January 10, 2022. The following changes will be made:
- Conventional products will be split out between FNMA and FHLMC and 2 new tabs will be added; FNMA and FHLMC
- Non Owner Occupied products will have their own price grids and be split into 2 new tabs; FNMA NOO and FHLMC NOO
- Our specialty products will be consolidated into 2 tabs; FNMA Specialty Products and FHLMC Specialty Products
- 90 day commitment period added to all price grids
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 11:00 PM (PT), on Thursday, January 6th, 2022. 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 11 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.