Discontinuation of Adverse Market Refinance Fee

Effective with new locks received today, July 19th, 2021, Gateway First Bank, Correspondent Lending will no longer be charging the .50% basis point adverse market refinance fee on refinance loans > $125,000.  Loans not submitted for purchase will receive a .50%...

Revised General QM Rule for Agency Loans

On April 27, 2021, the CFPB announced they were delaying the mandatory compliance date for the General Qualified Mortgage (QM) Final Rule from 7/1/2021 to 10/1/2022.   Pursuant to the changes outlined in the Preferred Stock Purchase Agreement, Fannie Mae and Freddie...

Classic URLA updates to the GEMS System

As previously announced in our January 11, 2021 announcement, Gateway First Bank Correspondent Lending will continue to accept loans on the Classic URLA, with application dates through March 1, 2021.  We are currently updating the FNMA 3.2 File Upload option to...

Disaster Policy: Texas Severe Winter Storms

FEMA has recently responded to the Presidential disaster declaration in Texas, providing assistance in numerous counties throughout the state.  FEMA and Gateway are continuing to evaluate the extent of the damage throughout the state of Texas and may add additional...

***Inclement Weather and Power Outages***

Due to Historic inclement weather in the State of Texas, Gateway First Bank Corporate office is experiencing rolling blackout periods.   Response times may be delayed from our operations and commitment desk personnel over the next few days.  We continue to prioritize...