by Gateway Correspondent | Jun 24, 2013 | Announcements
Effective immediately, Gateway Mortgage Group has expanded the allowable LTV for the FNMA Conforming Fixed Rate product. Previous Guideline: Max 95% LTV on Conforming Fixed Rate for primary residence purchase and limited cash-out transactions. 2% Financed MI allowed...
by Gateway Correspondent | Jun 17, 2013 | Announcements
Gateway Mortgage Group has reconsidered our stance on Higher Priced Mortgage Loans (HPMLs). Effective immediately, Conventional and Government loans that are classified as HPML are acceptable for purchase. When delivering loans classified as HPML, clients represent...
by Gateway Correspondent | Jun 7, 2013 | Announcements
Eligibility Reminder: Higher Priced Mortgage Loan (HPML) The recent changes in annual FHA MIP, as noted in HUD Mortgagee Letter 2013-04, may affect the eligibility of loans submitted to Gateway Mortgage Group for purchase. As a reminder, Gateway will not purchase a...
by Gateway Correspondent | Apr 24, 2013 | Announcements
Effective for new locks taken on or after 5/1/2013, the maximum number of financed properties allowed per borrower is four. All financed properties held individually, jointly, within an LLC, or within a partnership must be counted in the borrower(s) total number of...
by Gateway Correspondent | Apr 15, 2013 | Announcements
Effective for new locks taken on or after 5/1/2013, the fee and price structures for Correspondent Lending will be updated. Please review the following schedule of changes: Delegated Admin Fee: $250.00 Non-Delegated Admin Fee: $695.00 FHA...
