Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Monday, May 15, 2023 as follows:
- Introduce new ‘2nd Home Additional’ LLPA to the ‘LLPAs by Product Feature for All Eligible Loans’ LLPA Grid.
(5) Not subject to Cumulative LLPA Cap
(8) Applies to Fixed rate transactions with terms greater than 300 months, loan balances > 225,000, FICO > = 660, and lock period < = 45 days
Please contact your Sales Representative with any questions.