Ginne Mae recently announced a six month seasoning requirement on all streamline refinanced transactions with first payment dates on or after February 1, 2017. To align with this change, effective with deliveries on or after January 2, 2017, Gateway will require that all VA IRRRL loans being refinanced have a minimum of six consecutive monthly payments, after the first payment due date of the prior loan. Loan transactions that do not meet this requirement, must be delivered to Gateway by December 26th, 2016 and funded by December 30, 2016.
Please direct any questions to your Regional Sales Manager