Revisions to Maximum Pricing for Closed-End Seconds

Applies to: Closed-end second lien transactions delivered under best efforts commitments.

Addressed to

Pennymac correspondent sellersFrom the publisher, not quoted from the text

Investor

PennymacFrom the publisher, not quoted from the text

Affected areas

Contracts; Products

Effective

Oct 12, 2026

Applicability confidence

Verified: every row taken from the source text is supported by it; rows marked "from the publisher" are not quoted

Summary by AWACS. Pennymac Correspondent's guide is proprietary, so AWACS does not reproduce its text. Read the official announcement ↗ (opens in a new tab)

What to review: Review the updated maximum net pricing values on the price adjustments grid for closed-end second mortgages taking effect for best efforts commitments on or after October 12, 2026.

QC implications

• Verify that closed-end second mortgages committed under best efforts on or after October 12, 2026 adhere to the updated maximum net price limits on the adjustments grid.