Important TVLB Product Updates

October 25, 2018

Please note the updated guidelines for TVLB loans effective November 5th, 2018:

  • TVLB lock term is now 45 days with a 30-day purchase by date
  • Rate Lock Extensions are no longer allowed
  • Upon loan delivery the lock becomes a mandatory commitment and conditions must be cleared within Gateway’s 30-day purchase by date
  • Loans will be reviewed by TVLB after Gateway purchases your loan and any conditions must be satisfied on or prior to TVLB Purchase By Date to avoid additional fees
  • Relocks are at the discretion of Gateway
  • Website Updates – TVLB Product Description and Chapter 3 of our Client Guide have been updated to reflect this change
  • TVLB training material is available within the GEMS Portal / Resource menu
  • Please contact your Regional Sales Manager to schedule training for your team regarding the updates mentioned above

Please direct any questions to your Regional Sales Manager

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