AWACSMortgage compliance intelligence from Flightline

Pennymac Correspondent · Announcement 26-87 · Published

Revisions to Conventional Loan-Level Price Adjustments

Pennymac announced adjustments to conventional loan-level pricing matrices for investment and second home occupancies. The revised price structure applies to best-efforts locks executed on or after July 29, 2026.

InformationalEffective Jul 29, 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 committed under best efforts pricing.

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
Jul 29, 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
Conventional loan-level price adjustments for investment properties and second homesClarifiedNot statedPennymac updated the occupancy adjustments for second homes and investments along with footnote eight on its pricing schedule.

What to do

AWACS interpretation · not source language

What to review: Review the revised pricing schedule adjustments and footnote eight for conventional second home and investment property best-efforts locks executed on or after July 29, 2026.

QC implications

  • Sample conventional best-efforts locks executed on or after July 29, 2026 for second home and investment properties to confirm application of the revised pricing adjustments.

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.