05/10/2023
The Federal Housing Finance Agency (FHFA) announced the rescission of the DTI ratio-based fee. As a result, Pennymac will update the Best Effort rate sheet effective for all Best Effort Commitments taken on or after Thursday, May 11, 2023 as follows:
The ‘DTI >40%’ LLPA will be removed from the following LLPA Grids:
- ‘Purchase - LLPAs by Product Feature’
- ‘Non Cashout Refinance - LLPAs by Product Feature’
- ‘Cashout Refinance - LLPAs by Product Feature’
Please contact your Sales Representative with any questions.