by Alasha Krieg | Feb 10, 2021 | Announcements
As previously announced on January 19, 2021, Gateway First Bank, Correspondent lending has updated our branding and is now operating under the Gateway First Bank name. Due to this change, Gateway will require specific documents related to the loan transaction, be...
by Alasha Krieg | Feb 8, 2021 | Announcements
Effective March 1, 2021, the IRS is requiring the use of IRS form 4506-C to request borrower Tax Transcript records, utilizing an authorized Income Verification Express Service (IVES) for all loan programs. Third party vendors who are requesting transcripts on behalf...
by Alasha Krieg | Feb 3, 2021 | Announcements
We are pleased to announce the VHAP loan amount limit increase from $510,400 to $548,250 with NEW loan registrations on the TVLB Program, effective January 29, 2021. Current locks do not qualify for a loan amount increase to the new limit and any relock requests will...
by Alasha Krieg | Feb 2, 2021 | Announcements
Effective Immediately, Gateway First Bank will purchase DACA loans that are underwritten and closed for either Fannie Mae (DU) or FHA loan types. Freddie Mac, USDA, VA, and HUD-184 loans are currently not eligible. An EAD Code of “C33” – an alien who has been...
by Gateway Correspondent | Jan 19, 2021 | Announcements
Gateway has a new look! Our style may have changed, but you can continue to count on the excellent service you’ve come to rely on. On January 25, 2021, you will see our new logo and branding on the company website, but more importantly we are now operating under...
by Gateway Correspondent | Jan 11, 2021 | Announcements
Gateway First Bank, Correspondent Lending is currently NOT accepting closed loans or loans submitted for prior approval using the redesigned URLA as announced in Fannie Mae Letter 2020-10 and Freddie Mac Bulleting 2020-26. Gateway will start accepting loans with the...
by Gateway Correspondent | Dec 23, 2020 | Announcements
Effective Immediately: Gateway First Bank, Correspondent Lending Division will begin accepting locks for GSFA loans with a loan amount up to $548,250 that will be delivered on or after 1/1/2021. Gateway Commitment Desk Hours for 12/24 and 12/31 – Reminder locks,...
by Gateway Correspondent | Sep 30, 2020 | Announcements
Effective Wednesday, September 30th, 2020, Gateway First Bank, Correspondent Lending is making the following Client Guide Updates to Chapter 4 – Loan Delivery: Title Insurance – The title commitment must be issued within 90 days prior to the closing date. Hazard...
by Gateway Correspondent | Sep 8, 2020 | Announcements
Effective today, Tuesday, September 8, 2020 the Adverse Market Refinance Fee will be applied to all eligible loan programs locked for 60 days or greater. Gateway will reintroduce the 50- basis point fee on eligible loan products based on the schedule below: Day Date...
by Gateway Correspondent | Aug 31, 2020 | Announcements
Effective today, Monday August 31st, 2020, Gateway First Bank, Correspondent Lending has made updates reducing the LLPAs on Agency Cash-Out Refinance transactions. Please refer to the Gateway Correspondent Ratesheet for details. Please direct any questions to your...