NEW PRODUCTS RELEASE and updates to Overlay Matrix, Client Guide and Website

June 27, 2017

Gateway Mortgage Group’s Correspondent Lending Channel is excited to announce the release of the following new products along with several updates to our website. Please take a moment to review the announcement published today, June 27, 2017, as outlined in the bullet points below:

GATEWAY SECOND LIEN
• Second Lien – 10, 15 & 20-year Fixed Rate and 30/15 and 15/10 Balloons with a simultaneous close of a Gateway approved FNMA or FHLMC Fixed Rate first lien

NEW AGENCY PRODUCTS:
• Fannie Mae HomeReady – 30, 20 and 15 year Fixed Rate
• Freddie Mac Home Possible – 30 and 15 year Fixed Rate
• Conforming High Balance LIBOR ARM – 3/1, 5/1, 7/1 and 10/1 ARMS
• Conforming LIBOR ARM – Added 3/1 and 10/1 ARMS

OVERLAY MATRIX UPDATES
• Sections Added – Tax Returns, Second Lien
• Sections Revised – DTI, LTV/HCLTV Overlay, Underwriting

CLIENT GUIDE UPDATES
• Chapter 1 – Correspondent Contact List
• Chapter 3 – Gateway Second Lien Mortgage Loan added
• Chapter 4 – TRID Rules for Fee Itemization, Overlay Matrix section
• Chapter 5 – Added new products listed above

WEBSITE UPDATES
• Resource Center – Associated Documents – New and updated forms have been added with categories for easier form selection

Please direct any questions to your Regional Sales Manager

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