16-27: Removal of Mandatory Forward Delivery Method

16-27: Removal of Mandatory Forward Delivery Method

July 22, 2016

PennyMac is removing the Mandatory Forward delivery method from its offering of commitment types.  Best Effort, AOT/DT and Bulk will NOT be affected by this change.  Please note important cutoff dates for Mandatory Forward below:

 

  • Friday, 7/29/2016 – Final day Mandatory Forward commitments will be taken by PennyMac.
  • Wednesday, 8/31/2016 – Final day to allocate loans to open commitments.  No substitutions will be allowed after this date.
  • Thursday, 9/1/2016 – Undelivered position of all open commitments will be paired off.

 

Please note, to support mark-to-market execution, market spots will be added to the existing BE rate sheet on 7/29/2016.  They will appear as a new tab titled “Security Price Indications”.

 

Please contact your Sales Representative with questions or concerns about alternative delivery methods to support execution strategies.