2022 Conforming Loan Limits

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...

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...