Monthly Archives: January 2016

High Balance Products

January 27, 2016 — Beginning on January 28th, Gateway Mortgage Group, LLC will accept high balance loans for specific conventional and government products.  Maximum loan amounts are determined in the eligibility matrix, published by FNMA and FHLMC, and printed guidelines are listed in the FHA and VA Handbooks.  For individual details, please refer to Ch. 5 of our client …
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Nevada Overlay

January 22, 2016 — Effective immediately, Gateway Mortgage Group, LLC will discontinue purchasing loans in the state of Nevada. Please direct any questions to your Regional Sales Manager
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Correspondent Update

January 13, 2016 — FNMA & FHLMC UCDP Revision:  Gateway Mortgage Group’s Correspondent division is updating our UCDP Requirements as previously announced on January 8th, 2016.  Beginning February 1st, 2016, Gateway Mortgage Group LLC will require both Fannie Mae and Freddie Mac UCDP summary reports on all conventional loans submitted for purchase. Please direct questions to your Regional Sales …
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FNMA & FHLMC UCDP Requirements

January 8, 2016 — Clients submitting Conventional, FHA & VA loans for purchase to Gateway Mortgage Group’s Correspondent division, are required to include the Fannie Mae and/or Freddie Mac UCDP summary reports. Please direct questions to your Regional Sales Manager
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Flood Insurance Escrow Requirements

January 4, 2016 — Gateway Mortgage Group Correspondents – please note effective for loans closed on or after January 1, 2016, GMG will require flood insurance premiums to be escrowed, in compliance with the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters). Escrows for flood insurance will not be required for loans secured by property that is part of …
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