Please be advised that as per VA’s recent announcement (circular #26-18-13) concerning the recently passed “Protecting Veterans from Predatory Lending Act of 2018”, GMFS has updated our VA/VA IRRRL program guidelines. These updates/revisions become effective May 25, 2018 and include…
GMFS LLC has been recognized by USDA as a Top 25 Producer in Rural Development for the state of Arkansas based on loan numbers and obligation dollars for the period of 10/1/15 through 9/30/17. See the official Certificate of Award and letter…
The above purchase scenario is for Home Buyers that are purchasing a home and considering a Down Payment of 5% or 10%. They are also comparing Mortgage Insurance options to decide which is best for them. Their FICO Scores are…
Borrowers with No Credit Scores are now eligible for Conforming Loans! Other restrictions apply. See: No Credit Scores – Flyer For complete details, contact your District Director!
We have updated our tax transcript policy! Updated GMFS Tax Transcript Policy – Flyer
Available on: Fannie & Freddie Fixed Programs 1-4 Units, Owner & Non Owner Occupied, 2nd Homes New Construction & Existing Homes To Lock and Price a Loan for 90 Days: Login with your username & password Lock and Price a…
New and Improved (March 27, 2018) GMFS TPO Product Guide Wholesale Selling Guide GMFS Correspondent Selling Guide
If a former customer of yours has a mortgage inquiry pulled, and his/her existing loan is serviced by GMFS LLC, you will be sent a notification email with their name and loan number. Your borrower will also receive an e-mail…
On the Rehab-Math for HomeStyle Loans flyer, we have included some hypothetical examples to illustrate how the math works with Rehab Financing. The Max Loan is based on the completed value with no cash out to the borrower. Equity gain or…
Keep a few things in mind during rising interest rate environments. Take advantage of GMFS 45 and 60 day lock in periods Keep a close eye on expiring locks in order to avoid worse case pricing. All locks that expire on the weekend…
By now your customers which we are servicing should have received a letter in the mail notifying them of a new service provider for GMFS. Just to clarify, GMFS has simply changed to a new customer service center that will…
The VA has recently announced it will now require the Veteran’s Statement (VA Rate Reduction Certification Form) to be completed and sent to the veteran for signature within 3 business days of application for all VA IRRRLs. Please make sure…
EFFECTIVE TODAY, February 1, 2018: See table below for VA Fees and Timeliness for Origination and Liquidation Appraisals in the states of Arkansas, Louisiana, Oklahoma and Texas.
There were several changes to DU in late 2017 that provide expanded opportunities for 2018 originations. One of those changes was the implementation of DU 10.1. Summary of DU 10.1 Changes