Peak Performance Terms & Conditions


Peak Performance is a program for brokers to earn benefits by maintaining specific operational metrics. Peak Performance operational metrics include Lock Pull Through, Submission Pull Through and Complete Submission Percentage. Lock Pull Through is the percentage of locks that successfully close. Submission Pull Through is the percentage of submissions that successfully close. Both Lock and Submission pull through are calculated each quarter using the previous two quarters. For example, Q1 Qualifying will use Q3 and Q4 pull through data. Monthly status reports will include quarter to date plus the previous quarter’s data. The complete submission percentage is the percentage of all submissions that represent complete submission loans to Pennymac. The complete submission percentage uses the previous quarter’s submissions. Active loans will be excluded from all pull through operational metric calculations.


Rewards are at a Broker (company) level. We require Broker owner approval for relock fee waivers and EPO waivers. Broker partners may use their EPO fee waiver only if the Broker is not party to the transaction that pays off the loan. Rewards may only be used during the quarter that the Broker has a Summit or Ascent Peak Performance status. Jumbo AUS and Optima Jumbo (Non-AUS) loans are not eligible for the relock fee waiver benefit, or extension benefit. Rate Lock Extension is limited to one extension per loan. See your account representative for details.


Pennymac reserves the right to suspend or terminate a participating broker from the program, in its sole and absolute discretion, if broker submissions show evidence of excessive prepayment speeds and/or delinquency rates, or is otherwise suspended or terminated pursuant to our Agreement.

To establish baseline metrics, we will use the submission count from the previous quarter.

Broker will be immediately disqualified if they have an unpaid EPO invoice greater than 90 days.

Eligibility decisions are made by Pennymac at our sole discretion.

More than one benefit cannot be applied on the same loan.

Pennymac reserves the right to change the program and benefits.

Standards and benefits are subject to change at the discretion of Pennymac at any time.

Benefits will be live by the 5th business day after the start of the quarter or alternate date as communicated by Pennymac.