AWACSMortgage compliance intelligence from Flightline

Pennymac Correspondent · Correspondent Announcement 26-47 · Published

Investment and Second Home LLPA Improvements

Pennymac has announced enhanced pricing adjustments for conventional investment properties and second homes. The updated loan-level price adjustments apply to new best efforts commitments.

Review recommendedEffective May 4, 2026All checks passedRead the announcement ↗ (opens in a new tab)

Loan impact

Summarized from the announcement · verified

Applies to: Conventional loans secured by second homes or investment properties locked under best efforts commitments.

Applies when all of these are true
  • ANDPennymac loan
  • ANDOccupancy is investment or second_home
  • ANDProgram is Conventional
Addressed to
Pennymac correspondent sellersFrom the publisher, not quoted from the text
Investor
PennymacFrom the publisher, not quoted from the text
Occupancy
Investment property, second home
Affected area
Contracts
Effective
May 4, 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 changed

Summarized from the announcement
RequirementPreviouslyNow
Loan-level price adjustment schedule for investment and second home transactionsRelaxedNot statedPricing adjustment values are improved for eligible conventional investment and second home mortgages.

Each change applies when all the loan-impact conditions above are true.

What to do

AWACS interpretation · not source language

What to review: Review the improved loan-level price adjustment schedule for conventional second home and investment property commitments effective 2026-05-04.

QC implications

  • Quality control may sample conventional investment property and second home best efforts commitments to verify that the improved loan-level price adjustments are accurately applied.

Source and record

Version 1 · archived

Checks

  • Source verified: Passed

    The document ID, link and publication date match the official source.

  • Quotes match the source: Passed

    Every quoted passage appears word for word in the official document.

  • Requirements backed by the source: Passed

    Anything marked required is backed by the requirement language and dates in the source.

  • In scope: Passed

    The document is about residential mortgage lending.

  • Format and labels: Passed

    The record follows the AWACS format and uses its standard labels.