Updated Overlay Matrix

Effective December 3, 2012

Please visit Gateway Mortgage Group’s Correspondent website (www.gatewaycorrespondent.com) to review Gateway’s updated overlay matrix.  There are important changes and clarifications that require attention.

Transactions that qualify under the previous version of the overlay matrix must be locked by 12/7/12.

A summary of changes is listed in the bullet points below. Please contact your account executive with questions.

• The Asset Verification section has been removed from the overlay matrix

• The credit score requirement for FHA/VA/184 has been updated

• DTI requirements have been updated

• The FHA 203(k) Streamline product is no longer available

• The LDP/GSA requirements section has been removed from the overlay matrix

• LTV/CLTV restrictions have been updated