Gateway Mortgage Group’s Correspondent Lending Channel is excited to announce the release of the following new products along with several updates to our website. Please take a moment to review the announcement published today, June 27, 2017, as outlined in the bullet points below:
GATEWAY SECOND LIEN
• Second Lien – 10, 15 & 20-year Fixed Rate and 30/15 and 15/10 Balloons with a simultaneous close of a Gateway approved FNMA or FHLMC Fixed Rate first lien
NEW AGENCY PRODUCTS:
• Fannie Mae HomeReady – 30, 20 and 15 year Fixed Rate
• Freddie Mac Home Possible – 30 and 15 year Fixed Rate
• Conforming High Balance LIBOR ARM – 3/1, 5/1, 7/1 and 10/1 ARMS
• Conforming LIBOR ARM – Added 3/1 and 10/1 ARMS
OVERLAY MATRIX UPDATES
• Sections Added – Tax Returns, Second Lien
• Sections Revised – DTI, LTV/HCLTV Overlay, Underwriting
CLIENT GUIDE UPDATES
• Chapter 1 – Correspondent Contact List
• Chapter 3 – Gateway Second Lien Mortgage Loan added
• Chapter 4 – TRID Rules for Fee Itemization, Overlay Matrix section
• Chapter 5 – Added new products listed above
WEBSITE UPDATES
• Resource Center – Associated Documents – New and updated forms have been added with categories for easier form selection
Please direct any questions to your Regional Sales Manager