This announcement is intended to provide revisions to Announcement 15-45 regarding Updates to Government FICO Price Adjustments and Rate Sheet Excel Format Change to .xlsx.
Effective for all commitments taken on or after Thursday, September 17th, 2015, PennyMac is implementing updates to the ‘Govt LLPAs’ tab on all rate sheets. The updates will specifically apply to the following sections:
- ‘Government FICO Price Adjustments’ grid
- ‘FHA Streamline Price Adjustments’ grid
- ‘VA Full Doc Price Adjustments’ grid
- ‘VA IRRRL Price Adjustments’ grid
- ‘VA IRRRL Investment Property and Second Home Price Adjustments’ grid
A sample of the updated rate sheet(s) will be posted to the PennyMac Portal after 4:00 PM (PT) 6:00 PM (PT) on Friday September 4th, 2015 Thursday, September 3rd, 2015 with updates highlighted in yellow. Sample rate sheet(s) will be available for download shortly after the rate sheet email notification is sent from ‘PennyMac Correspondent Pricing’ <email@example.com>.
Note: Sample rate sheet(s) posted to the portal after 4 PM (PT) 6 PM (PT) are intended only to communicate LLPA updates as described above. Loan program base pricing will reflect as blank. Rate sheets posted the following morning will be effective for new commitments.
Effective for all rate sheets posted on or after Thursday, September 17th, 2015, the excel rate sheet document format will be updated from the current .xls format to .xlsx. The technical format will change to .xlsx, along with the file extension. This has no impact on the rate sheet layout, except as noted above.
Please contact your Sales Representative with any questions.