by Gateway Correspondent | Aug 9, 2012 | Announcements
Gateway Mortgage Group’s Correspondent division will cease the purchase of loans secured by properties in the state of California. Loans must be locked by August 31, 2012. The associated loan files must be delivered by September 30, 2012, regardless of lock...
by Gateway Correspondent | Jul 2, 2012 | Announcements
Effective 7/2/2012 Gateway Mortgage Group’s Correspondent division has added Essent Guaranty, Inc. as an approved mortgage insurance company. The overlay matrix and affected product descriptions have been updated on the Gateway Correspondent website:...
by Gateway Correspondent | Jun 25, 2012 | Announcements
Effective Immediately The Correspondent Client Guide has been updated. Please review the new verbiage related to loan delivery in Chapter 3 – Loan Registration and Lock Policies: OLD: The following applies to suspended loans and extensions: If the file is delivered...
by Gateway Correspondent | Feb 28, 2012 | Announcements
HUD posted Mortgagee Letter 2012-3 on February 28, 2012. The following topics were covered in this Letter: Updated documentation requirements for self-employed borrowers New guidance on disputed and collection accounts Expansion of the current definition of family...
by Gateway Correspondent | Jan 31, 2012 | Announcements
FannieMae published Announcement SEL-2012-01 on January 31, 2012, changing the methodology on how to calculate the LTV for construction-to-perm transactions that are processed as refinances (see below). This change allows the use of fair market value regardless of how...
