23-07: Updates to Conventional LLPAs
Pennymac will update the footnote for the ‘Purchase Special’ LLPA effective for all Best Efforts Commitments taken on or after Wednesday, January 25, 2023 as follows:
- Update ‘Purchase Special’ to apply to < = 30 Day Lock Periods
(6) Applies to Fixed rate Purchase transactions with terms greater than 240 months, primary residence, loan balances < = 200,000, and lock period < = 30 days
Please contact your Sales Representative with any questions.