01/10/2019
PennyMac will be updating the requirements for the “Purchase Special” on the Conventional and Government LLPA tabs of the Best Efforts and AOT/DT rate sheets. Effective January 15, 2019, the “Purchase Special” LLPA will only be applicable for 60-day or less lock periods and loans must be delivered by March 17, 2019. For AOT trades, the “Purchase Special” LLPA will only be applicable to March deliveries or sooner and loans must be delivered by March 17, 2019.
Restrictions noted above will be footnoted on the rate sheets starting with January 15, 2019 publications.
Please contact your Sales Representative with any questions.