Effective today, Tuesday, September 8, 2020 the Adverse Market Refinance Fee will be applied to all eligible loan programs locked for 60 days or greater. Gateway will reintroduce the 50- basis point fee on eligible loan products based on the schedule below:
| Day | Date | Lock Terms |
| Tuesday | 9/8/2020 | 60-days or longer |
| Monday | 9/21/2020 | 45-days |
| Monday | 10/5/2020 | 30-day |
| Monday | 10/19/2020 | 15-day |
| Monday | 10/26/2020 | 7-day |
Please note, locked loans that are priced with the Adverse Market Refinance Fee will receive a credit of .50 (50 basis points) at funding if and only if they are purchased on or before 11/13/2020. The adverse market refinance fee will apply to all applicable Refinance loans not purchased by Gateway on or before Friday, November 13th, 2020. HomeReady, Home Possible and loan amounts less than $125,000 are exempt from the Adverse Market Refinance Fee.
Please direct any questions to your Regional Sales Manager