Monthly Archives: September 2019

Clarification to Flood Insurance Documentation Requirement

September 25, 2019 — As previously announced in our September 23, 2019 announcement on Flood Insurance Documentation, Gateway Mortgage Group has updated our requirements for all loans requiring flood insurance, pursuant to FDIC regulations.  Effective with all new submissions on or after October 1st, 2019, Gateway Mortgage Group, a Division of Gateway First Bank will require the Flood Insurance …
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Disaster Policy Update: Tropical Storm Imelda

September 24, 2019 — Tropical Storm Imelda has brought devastating rains and flooding to Southeast Texas. Although FEMA has not declared specific counties for individual assistance as of yet, the Texas Governor has declared a State of Emergency for Tropical Storm Imelda due to ongoing rain and flooding and potential for additional damage. The counties that are included in …
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Flood Insurance Documentation Requirement

September 23, 2019 — Effective October 1st, 2019, Gateway Mortgage Group, a Division of Gateway First Bank will require proof that the Flood Insurance Premium has been receipted by the Flood Insurance Company.  A copy of the cancelled check or paid receipt is sufficient to clear this requirement. Please direct any questions to your Regional Sales Manager
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NEW Hazard Insurance Mortgagee Clause

September 16, 2019 — Effective Wednesday, September 18th, 2019 Gateway Mortgage Group Mortgagee Clause will change and must read as follows: Gateway Mortgage Group, a division of Gateway First Bank ISAOA/ATIMA P.O. Box 5013 Troy, MI 48007-5013 All files delivered for purchase on or after October 1st, 2019 must have the Mortgagee Clause updated to the above address.  In …
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Revision to August 14th 2019 Announcement: VA Cash-Out Refinances Exceeding 90% LTV

September 4, 2019 — As previously announced in Gateway’s announcement dated  August 14th, 2019, Gateway has updated the VA Refinance guidelines with respect to GNMA’s publication of APM 19-05, Revised Pooling Eligibility Requirements for VA Refinance loans.  The last day Gateway will purchase High LTV VA Cash-Out Refinances above 90%, is October 4, 2019.  In addition, the first payment …
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