by Gateway Correspondent | Mar 26, 2020 | Announcements
Agency Temporary Selling Guidance Related to COVID-19 Gateway First Bank, Correspondent Lending understands the challenging times our clients and borrowers are faced with during the current COVID-19 Coronavirus pandemic. In accordance with the special flexibility and...
by Gateway Correspondent | Mar 25, 2020 | Announcements
FICO Update: All Government Loan Programs Due to current market conditions, effective today March 25, 2020, Gateway First Bank Correspondent Lending is temporarily requiring a minimum FICO score of 680 on all newly locked Government loan programs. This...
by Gateway Correspondent | Mar 23, 2020 | Announcements
Revision: Coronavirus (COVID-19) Announcement Effective with loans closing on or after March 16, 2020, Gateway will not require Gap insurance on loans closed where the Security Instrument was unable to be recorded. Gap endorsement title insurance is permitted (not...
by Gateway Correspondent | Mar 20, 2020 | Announcements
Coronavirus (COVID-19) Announcement Gateway First Bank, Correspondent Lending is actively monitoring the Coronavirus (COVID-19) Pandemic. Gateway First Bank is committed to following the Centers for Disease Control recommendations of self-quarantine and social...
by Gateway Correspondent | Feb 6, 2020 | Announcements
Effective with new locks on February 10th, 2020 for SETH Goldstar, CAFA Gold 100, and GSFA Open Doors programs are being updated. Please note the revisions to the required MI and LLPA’s for borrowers with income above 80% AMI. Freddie Mac announced in November as...
by Gateway Correspondent | Jan 28, 2020 | Announcements
We are pleased to announce the VHAP loan amount limit increase from $484,350 to $510,400 with NEW loan registrations on the TVLB Program, effective January 28th, 2020. This applies to clients that have been approved by Gateway to originate and sell the Texas Veterans...
by Gateway Correspondent | Jan 28, 2020 | Announcements
Specialty Lending Programs Update Effective with new locks on February 10th, 2020 for SETH Goldstar, CAFA Gold 100, and GSFA Open Doors programs are being updated. Freddie Mac announced in November as part of their responsible lending requirements, they will limit the...
by Gateway Correspondent | Dec 27, 2019 | Announcements
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....
by Gateway Correspondent | Dec 26, 2019 | Announcements
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...
by Gateway Correspondent | Dec 23, 2019 | Announcements
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...
