Update: Adverse Market Refinance Fee

On 8/25/2020 The FHFA announced a delay in the implementation of the Adverse Market Refinance Fee until December 1, 2020.  As a result of this announcement, Gateway First Bank, Correspondent Lending, is eliminating the 50 basis point (.50) loan level price adjustment,...

Client Guide Updates

Effective Monday, August 31st, 2020, Gateway First Bank, Correspondent Lending is making the following Client Guide Updates: Gateway has reduced its minimum FICO requirement on all newly locked Government loan programs to 620.  This includes: FHA, VA, HUD-184, SETH...

Agency Adverse Market Refinance Fee

Effective for agency refinance loans locked, relocked or renegotiated on or after Thursday August 13th, 2020, Gateway First Bank, Correspondent Lending has aligned with the  Fannie Mae LL-2020-12 and Freddie Mac Bulletin 2020-32 announcements.  This new Adverse Market...

Updated Best Effort Rate Sheets

Starting Monday, April 13th, 2020 Gateway First Bank Correspondent Lending will be updating the Best Effort Rate sheet which will include the following enhancements: A 7-day commitment period will be available The published base price will include the SRP New SRP...

Forbearance Loans

Gateway First Bank Correspondent Lending continues to closely monitor the developments related to COVID-19 and will continue to provide updates and guidance during these unprecedented times.  Effective immediately, all loans in which borrower(s) are actively seeking...

Electronic Closings

Electronic Closings Effective immediately, Gateway First Bank Correspondent Lending has updated its electronic signature policy on specific eligible closing documents for all loan programs including TVLB, SETH Goldstar, CAFA Gold 100 and GSFA Open Doors.  Mortgage...