Effective for all commitments taken on or after Monday, August 22nd, 2016, PennyMac is implementing updates to values in the ‘Conv LLPAs’ and ‘Govt LLPAs’ tabs on all rate sheets. No changes will be made to the structure of any rate sheet tab or grid. The LLPA value updates will specifically apply to the following sections:
‘Conv LLPAs’ tab
- ‘LLPAs by Product Feature’ grid
‘Gov LLPAs’ tab
- ‘VA Full Doc Price Adjustments’ grid
- ‘Guaranteed Rural Housing Price Adjustments’ grid (name change only)
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 6:00 PM (PT) on Wednesday, August 17th, 2016 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 LLPA updates 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.