Overlay Matrix Update

December 16, 2013

Please review the updated Overlay Matrix posted to Gateway’s Correspondent website today.  The changes are effective December 16, 2013.  A summary of the updates is listed below.

  • Construction/Perm single or one-time close loans which utilize a modification agreement or construction loan rider are ineligible.
  • Down Payment Assistance overlay updates.
  • Changes to the down payment overlay for Conventional loans.
  • Additional ineligible property types added to the Overlay Matrix.

Please direct questions to your sales manager

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