by Alasha Krieg | Feb 21, 2023 | Announcements
On February 15, 2023, Gateway Correspondent Lending announced how we would be implementing the new Fannie Mae and Freddie Mac LLPA Updates that become effective with deliveries to the agencies on and after May 1, 2023. Effective today, February 21, 2023, Gateway is...
by Alasha Krieg | Feb 15, 2023 | Announcements
On January 19, 2023, Fannie Mae and Freddie Mac both posted announcements updating the current Loan Level Price Adjustment (LLPA) grids for loans sold to them on or after May 1, 2023. Gateway Correspondent Lending will be rolling out these new LLPAs effective February...
by Alasha Krieg | Jan 12, 2023 | Announcements
As previously announced on Monday, January 10, 2023, the fee structure for both SETH Goldstar and CAFA Gold 100 loan programs has been updated to allow for more DPA available options. Listed below is additional clarification to each of these Homebuyer Assistance...
by Alasha Krieg | Jan 10, 2023 | Announcements
Effective with new locks on or after January 9th, 2023, the fee structure for the SETH Goldstar and CAFA Gold 100 loan programs has been updated to the following: The total Service Release Premium (SRP) for Conventional, FHA, & USDA loans is now 1.500% VA...
by Alasha Krieg | Jan 3, 2023 | Announcements
Effective Monday, January 16th, 2023, Gateway First Bank will be changing the Service Release Premium (SRP) paid on the Texas Veterans Housing Assistance Program (VHAP). All loans locked on or after Monday, January 16th, 2023, will be subject to the new service...
by Alasha Krieg | Nov 30, 2022 | Announcements
As announced on November 29, 2022, by the FHFA, the 2023 Conforming Loan Limit for one-unit properties has been increased to $726,200. Effective immediately, Gateway First Bank is now accepting new locks for loans with the conforming loan limit increases for standard...
by Alasha Krieg | Aug 17, 2022 | Announcements
Effective Monday, August 22, 2022, Gateway First Bank will be changing the Service Release Premium (SRP) paid on the Texas Veterans Housing Assistance Program (VHAP). All loans locked on or after Monday, August 22, 2022, will be subject to the new service release...
by Alasha Krieg | Jun 6, 2022 | Announcements
As announced in last week’s spotlight, dated the Week of May 23, 2022, Gateway First Bank has increased our funding fees effective 6/1/22. Please see the Gateway First Bank Fee schedule in the Resource Library in the GEMS portal for full details. The new funding fees...
by Alasha Krieg | Feb 15, 2022 | Announcements
We are pleased to announce the VHAP loan amount limit increase from $547,250 to $647,200 with NEW loan registrations on the TVLB Program, effective February 12, 2022. Current locks do not qualify for a loan amount increase to the new limit, and any relock requests...
by Alasha Krieg | Feb 4, 2022 | Announcements
Gateway First Bank, Correspondent Lending is aligning with the agencies in their COVID-19 guidelines for self-employed borrowers. Effective immediately, both Fannie Mae and Freddie Mac are retiring the COVID-19 guidelines for YTD P&L and 3 months bank statements...
