23-46: Updates to Conventional LLPAs


Pennymac will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Wednesday, August 16 2023 as follows:

  • Update footnote for ‘2nd Home Additional’ LLPA
    • Expanded terms to include 300 months or more.
    • Expanded Lock Periods up to 60 days, an increase from 45-days.
    • Adjustment will no longer be applicable to properties located in New York state.

Please contact your Sales Representative with any questions.