Effective Monday, March 10, 2025, Pennymac will be updating the Best Effort rate sheet to add new Conventional Spec Base Pricing Grids, and retire Conventional loan programs no longer needed. In addition, all conventional pricing grids will be consolidated into two new tabs titled “FNMA – New” and “FHLMC – New”, and will replace the current Conventional Base Pricing tabs. The following changes will be made to Conventional pricing:
- Adding new loan programs for <700 FICO.
- Adding new loan programs for Second Homes.
- Adding new loan programs for >= 95% LTV.
- Removing all loan programs for Specialty Products.
- Removing various NOO loan programs.
- Removing the “>300000<=325000 Additional” adjustment from the “Conventional Loan Amount Price Adjustments” grid on the “Conv LLPAs” tab.
- Removing the “>325000<=350000 Additional” adjustment from the “Conventional Loan Amount Price Adjustments” grid on the “Conv LLPAs” tab.
The new Conventional Base Pricing tabs will be included in the Excel Rate Sheet beginning March 3rd, before the effective date, for the purpose of communication the new grids and format. Please see the following document for the new loan programs being added and removed.
Please contact your Sales Representative with any questions.