Monthly Archives: December 2019

2020 FHA and VA Loan Limit Updates

December 27, 2019 — FHA Loan Limit Effective with case numbers assigned on or after January 1, 2020, Gateway Mortgage will begin accepting locks with the higher FHA loan limits.  Please refer to FHA Mortgagee Letter 2019-19 as well as FHA Info #19-59 for the county limits in your area. VA Loan Limit For VA loans guaranteed on or …
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Taxpayer First Act: Borrower Consent Form

December 26, 2019 — The Taxpayer First Act was signed into law on July 1, 2019.  The act includes a provision that persons receiving tax return information must obtain the express permission of taxpayers prior to disclosing that return information to any other person. Due to the law, if a lender or a servicer obtains tax return information during …
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Flood Insurance Update

December 23, 2019 — Gateway Mortgage has made an update to our Flood Insurance Policy. The required coverage offered is the lesser of the following: The combined total outstanding principal balance of all loans, or The maximum amount of coverage available under the NFIP (currently $250,000 per residential building); or The insurable value of the residential building(s), which can …
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