Monthly Archives: June 2015

Correspondent Update – LLPAs

June 25, 2015 — Please be advised that Gateway’s conventional loan-level price adjustments (LLPAs) will be subject to upcoming changes in LLPAs from Fannie Mae.  The changes will be implemented for Best Efforts locks on 7/1/2015, and Mandatory locks will include updated adjustments starting on 8/1/2015.  Fannie Mae announcement SEL-2015-04 may be referenced for details.   Please contact your …
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Correspondent Update

June 15, 2015 — Please review the Client Guide for recent updates.  A summary of the changes is below:  Chapter 4, Calculating Interest (pg. 5):  per diem interest calculation updated. Chapter 4, IRS Form 4506-T (pg. 22):  requirements updated to align with agency requirements. Chapter 5, FNMA Conforming Product (pg. 3):  investment 1-unit maximum LTV/CLTV updated to sync with FNMA. …
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Natural Disaster Policy

June 2, 2015 — Recent flooding in Texas has prompted FEMA and the Texas Governor’s Office to declare a state of disaster for certain counties.  Please reference the Natural Disaster Policy in Gateway’s Client Guide for guidance related to ensuring that a subject property is in acceptable condition at the time of loan purchase.  Each product description in Chapter …
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