Correspondent

What is EPO premium recapture in correspondent lending? It is the aggregator’s right to take back the premium it paid a correspondent seller when the loan prepays inside a window measured from purchase — a claw-back against the selling institution, not a borrower charge. Pennymac’s delegated seller guide fixes an early payoff at prepayment “within…

Nearly everything in the guide, at any time, in the aggregator’s sole discretion — and the guide is where most of the operative deal terms live. In the Washington Mutual form filed with the SEC, the agreement itself “may not be amended except by an instrument in writing signed on behalf of each of the…