PCG Adjustable Rate Mortgage Matrix
PCG Adjustable Rate Mortgage Matrix (Conventional, Government, and Jumbo) 08.22.17 Entity
Plan No.
ARM Type
Note/ Rider
Index
Caps
Margin
Rounding Method
Assumable
Convertible
Amortization Term
Prepay Penalty
Qualifying Rate
1-Yr WSJ LIBOR
Lookback Int. Rate Change 45
FNMA
2723
3/1
3526/3189
2/2/6
2.25
Nearest 1/8
Yes
No
30
No
3528/3187
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
7/1
3528/3187
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
10/1
3528/3187
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
3/1
5530/5130
1-Yr WSJ LIBOR
45
2/2/6
2.25
Nearest 1/8
Yes
No
30
No
FHLMC
5/1
5531/5131
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
7/1
5531/5131
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
10/1
5531/5131
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
Jumbo
5/1
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
No
No
30
Optional
Jumbo
7/1
3528/3187 5531/5131 3528/3187 5531/5131
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
No
No
30
Optional
Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed or Note Rate Greater of the Fully Indexed or Note Rate Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed Or Note Rate + 2% Note Rate. HPML/HPCT require greater of the Fully Indexed or Note Rate Note Rate. HPML/HPCT require greater of the Fully Indexed or Note Rate Greater of the Fully Indexed Or Note Rate + 2% Note Rate
FNMA
2725
5/1
FNMA
2727
FNMA
2729
FHA
5/1
1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release h.15, Selected Interest Rates)
45
1/1/5
1.75 2.00 2.25
Nearest 1/8
Yes (OO) No (Inv.)
No
30
No
Note Rate
1.75 2.00 2.25
Nearest 1/8
1.75 2.00 2.25
Nearest 1/8
1.75 2.00 2.25
Nearest 1/8
Includes streamline FHA
7/1
Includes streamline VA
5/1
Includes IRRRL VA Includes IRRRL
7/1
45
45
45
2/2/6
1/1/5
2/2/6
(N/A for non-credit qualifying streamlines) Yes (OO) No (Inv.)
No
30
No
Comments
Conforming and High-Balance Conforming and High-Balance Conforming and High-Balance Conforming and High-Balance Conforming Only (3/1 not available for FHLMC Super-Conforming) Conforming and Super-Conforming Conforming and Super-Conforming
Conforming and Super-Conforming
Lender must use the PennyMac Non-Assumability Note Addendum and Rider.
Government change dates can be found in the “Government ARM Initial Interest Rate Adjustment Dates” document in the Quick Reference Guide section of www.gopennymac.com.
Note Rate (N/A for non-credit qualifying streamlines)
VA Approval
No
30
No
Note Rate (N/A for non-credit qualifying IRRRLs)
VA Approval
No
30
No
Note Rate (N/A for non-credit qualifying IRRRLs)
Equal Housing Opportunity. © 2013 PennyMac Corp. 6101 Condor Drive, Suite 300, Moorpark, CA 93021. NMLS ID # 252869. www.NMLSConsumerAccess.com. Trade/service marks are the property of PennyMac Corp. and/or its subsidiaries or affiliates. Some products and programs may not be available in all states .Georgia Residential Mortgage Licensee # 33028. Illinois Residential Mortgage Licensee # MB.6760811. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. §47.206 (3) & (4). Licensed by the Mississippi Department of Banking and Consumer Finance. Licensed by the New Hampshire Banking Department. This is a secondary market business to business site and not intended for consumer use. This is not an offer for extension of credit or a commitment to lend or to purchase loans. Other restrictions may apply. Terms are subject to change without notice at the sole discretion of PennyMac Corp. All rights reserved. Privacy
Plan No.
ARM Type
Note/ Rider
Index
Caps
Margin
Rounding Method
Assumable
Convertible
Amortization Term
Prepay Penalty
Qualifying Rate
1-Yr WSJ LIBOR
Lookback Int. Rate Change 45
FNMA
2723
3/1
3526/3189
2/2/6
2.25
Nearest 1/8
Yes
No
30
No
3528/3187
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
7/1
3528/3187
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
10/1
3528/3187
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
3/1
5530/5130
1-Yr WSJ LIBOR
45
2/2/6
2.25
Nearest 1/8
Yes
No
30
No
FHLMC
5/1
5531/5131
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
7/1
5531/5131
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
FHLMC
10/1
5531/5131
1-Yr WSJ LIBOR
45
5/2/5
2.25
Nearest 1/8
After Fixed Period
No
30
No
Jumbo
5/1
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
No
No
30
Optional
Jumbo
7/1
3528/3187 5531/5131 3528/3187 5531/5131
1-Yr WSJ LIBOR
45
2/2/5
2.25
Nearest 1/8
No
No
30
Optional
Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed or Note Rate Greater of the Fully Indexed or Note Rate Greater of the Fully Indexed Or Note Rate + 2% Greater of the Fully Indexed Or Note Rate + 2% Note Rate. HPML/HPCT require greater of the Fully Indexed or Note Rate Note Rate. HPML/HPCT require greater of the Fully Indexed or Note Rate Greater of the Fully Indexed Or Note Rate + 2% Note Rate
FNMA
2725
5/1
FNMA
2727
FNMA
2729
FHA
5/1
1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release H.15, Selected Interest Rates) 1-Yr CMT (Fed Statistical Release h.15, Selected Interest Rates)
45
1/1/5
1.75 2.00 2.25
Nearest 1/8
Yes (OO) No (Inv.)
No
30
No
Note Rate
1.75 2.00 2.25
Nearest 1/8
1.75 2.00 2.25
Nearest 1/8
1.75 2.00 2.25
Nearest 1/8
Includes streamline FHA
7/1
Includes streamline VA
5/1
Includes IRRRL VA Includes IRRRL
7/1
45
45
45
2/2/6
1/1/5
2/2/6
(N/A for non-credit qualifying streamlines) Yes (OO) No (Inv.)
No
30
No
Comments
Conforming and High-Balance Conforming and High-Balance Conforming and High-Balance Conforming and High-Balance Conforming Only (3/1 not available for FHLMC Super-Conforming) Conforming and Super-Conforming Conforming and Super-Conforming
Conforming and Super-Conforming
Lender must use the PennyMac Non-Assumability Note Addendum and Rider.
Government change dates can be found in the “Government ARM Initial Interest Rate Adjustment Dates” document in the Quick Reference Guide section of www.gopennymac.com.
Note Rate (N/A for non-credit qualifying streamlines)
VA Approval
No
30
No
Note Rate (N/A for non-credit qualifying IRRRLs)
VA Approval
No
30
No
Note Rate (N/A for non-credit qualifying IRRRLs)
Equal Housing Opportunity. © 2013 PennyMac Corp. 6101 Condor Drive, Suite 300, Moorpark, CA 93021. NMLS ID # 252869. www.NMLSConsumerAccess.com. Trade/service marks are the property of PennyMac Corp. and/or its subsidiaries or affiliates. Some products and programs may not be available in all states .Georgia Residential Mortgage Licensee # 33028. Illinois Residential Mortgage Licensee # MB.6760811. Minnesota: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. §47.206 (3) & (4). Licensed by the Mississippi Department of Banking and Consumer Finance. Licensed by the New Hampshire Banking Department. This is a secondary market business to business site and not intended for consumer use. This is not an offer for extension of credit or a commitment to lend or to purchase loans. Other restrictions may apply. Terms are subject to change without notice at the sole discretion of PennyMac Corp. All rights reserved. Privacy
