by Alasha Krieg | Jan 12, 2022 | Announcements
On January 5th, the FHFA announced Targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high balance and second home loans. Gateway First Bank, Correspondent Lending will be updating the LLPAs on our rate sheets on January 18th, 2022, to include...
by Alasha Krieg | Jan 12, 2022 | Announcements
Gateway First Bank, Correspondent Lending Division announces that the CAFA Gold 100, Diamond DPA Program, REI Flex 100, and GSFA Open Doors maximum loan amounts have been updated to the lesser of $647,200 or the 2022 Agency loan limit. For SETH Goldstar, refer to...
by Ben Aggus | Dec 21, 2021 | Announcements
Please be aware that the recent announcement by FHFA regarding the maximum conforming loan limits increasing from $548,250 to $647,200 in 2022 does not currently impact the Texas Veterans Land Board Program. The maximum loan amount for Texas Veteran loans will remain...
by Alasha Krieg | Dec 7, 2021 | Announcements
Effective immediately, Gateway First Bank is accepting new locks for loans with the conforming loan limit increases for standard and high balance loans, as announced by the FHFA on 11/30/21. In most areas, the conforming loan limit for 1-unit properties has increased...
by Alasha Krieg | Jul 19, 2021 | Announcements
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%...
by Alasha Krieg | Jul 2, 2021 | Announcements
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...
by Alasha Krieg | Jun 25, 2021 | Announcements
FHA Mortgagee Letter 2021-13 was published June 17, 2021, informing Mortgagees of the new student loan calculation requirements, effective with all case numbers assigned on or after August 16, 2021. Gateway First Bank, Correspondent Lending will begin accepting loans...
by Alasha Krieg | Apr 13, 2021 | Announcements
Gateway First Bank, Correspondent Lending has recently updated the requirements for Homebuyer Education for first time Homebuyers on our CAFA Gold 100 Government loan program. Effective with new loans locked on or after 3/22/21 all first time homebuyers on the note...
by Alasha Krieg | Mar 5, 2021 | Announcements
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...
by Alasha Krieg | Feb 24, 2021 | Announcements
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...
