Effective for new locks taken on or after 5/1/2013, the maximum number of financed properties allowed per borrower is four. All financed properties held individually, jointly, within an LLC, or within a partnership must be counted in the borrower(s) total number of properties, regardless of the borrower’s ownership percentage in the LLC/partnership or who is obligated on the financing.

Loans for borrowers with 5-10 financed properties may be delivered if they are locked by 4/30/2013.

An updated overlay matrix, effective 5/1/2013, has been posted, and the applicable conventional product descriptions will be available 5/1/2013 at www.gatewaycorrespondent.com.

Please direct questions to your account executive.