Non-QM Programs – New
GMFS is pleased to introduce two new Non-QM programs to complement our existing Jumbo Programs – GMFS Non-QM Select and Choice! Non-QM Select & Choice Features: Debt to Income Ratio over 43% FICOs as low as 680 Second Home and…
Updated Pricing Adjustment for Investment Properties and Second Homes
Important: Pricing Adjustment – Investment Properties and Second Homes Updated adjustment for locks on or after Friday, June 11, 2021 As announced previously, in response to Fannie/Freddie cap on investment properties and second home transactions, GMFS has added additional pricing…
GMFS offers Fannie Mae RefiNow
Fannie Mae RefiNow GMFS is pleased to offer Fannie Mae’s new refinance now program released in DU version 11.0 this weekend. RefiNow will enable more borrowers to refinance to a lower interest rate and reduce their monthly mortgage payments. In…
Now Accepting USDA FICOs Down to 620
Changes to USDA FICO Scores GMFS is now accepting USDA FICOs down to 620 effective immediately! Please see our USDA page for more information.
Purchase Advantage FHA Income Limit Changes
The Purchase Advantage (LA) FHA income limits have been updated in the guide. Conventional income limits will be changing in June. See updated Purchase Advantage Product Guide for details.
Jumbo Express Changes/Highlights
GMFS has updated the Jumbo Express Product Guide and will begin taking new locks with the updated guidelines Today, April 30th. Jumbo Express Changes/Highlights Higher LTVs – up to 90% Lower FICOs on many tranches – as low as 660…
Pricing Adjustment for Investment Properties and Second Homes
Updated adjustment for locks on or after Monday, April 28, 2021 In response to the recently announced Fannie / Freddie cap on investment property and second home transactions, GMFS will be adjusting our loan level price adjustments for second home…
Conventional & Government Rates at 2.99% and 3.99%
Great News About Conventional & Government Rates Conventional & Government Rates at 2.99% and 3.99% When submitting your lock request please lock at the interest rate just above what you are looking for and we will adjust your price by…
Purchase Advantage FHA (LA) is Back!
Now Available! FHA Purchase Advantage Program GMFS is please to re-introduce the FHA and Conventional Purchase Advantage Program with the Capital Area Finance Authority (CAFA). Borrowers can receive an assistance amount of 3 or 4% on FHA and Conventional Loans….
Update to Locking Freddie/Fannie Investment Loans
Fannie and Freddie have made changes to their Standard Loan program and you will no longer be able to lock under the standard loan program. We have created these unique programs for you to lock Investment programs in Optimal Blue. …
FHA and VA FICO Scores Down to 620
Changes to Government FICO Scores FHA and VA FICOS Down to 620 effective immediately! Please see GMFS Product and Selling Guides for all recent updates.
GMFS Pricing Adjustment for Investment Properties and Second Homes
In response to the recently announced Fannie / Freddie cap on investment property and second home transactions, GMFS will be adjusting our loan level price adjustments for second home and investment properties (NOO), effective for any commitments taken on or…
GMFS Returning to Normal Lock Extension Policy
A Notice from the Lock Desk Check out our Underwriting Turn Times! Our dedicated underwriting team has been hard at work getting us back to our quick turn times! Beginning Monday, March 15th GMFS will be returning to our normal…
The New URLA
Did you know the 1003 is changing to URLA (Uniform Residential Loan Application)? GMFS began accepting this new format February 15th! The new mandate date for the use of the redesigned URLA and AUS specifications is March 1, 2021. Download…
Conventional Purchase Advantage Program is Back
GMFS is pleased to re-introduce the Conventional Purchase Advantage Program with the Capital Area Finance Authority (CAFA). Borrowers can receive an assistance amount of 3% or 4% on Conventional Loans. The assistance may be used for down payment, closing costs,…