Please note the updated guidelines for TVLB loans effective November 5th, 2018:
- TVLB lock term is now 45 days with a 30-day purchase by date
- Rate Lock Extensions are no longer allowed
- Upon loan delivery the lock becomes a mandatory commitment and conditions must be cleared within Gateway’s 30-day purchase by date
- Loans will be reviewed by TVLB after Gateway purchases your loan and any conditions must be satisfied on or prior to TVLB Purchase By Date to avoid additional fees
- Relocks are at the discretion of Gateway
- Website Updates – TVLB Product Description and Chapter 3 of our Client Guide have been updated to reflect this change
- TVLB training material is available within the GEMS Portal / Resource menu
- Please contact your Regional Sales Manager to schedule training for your team regarding the updates mentioned above
Please direct any questions to your Regional Sales Manager