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…
Changes to USDA FICO Scores GMFS is now accepting USDA FICOs down to 620 effective immediately! Please see our USDA page for more information.
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.
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…
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…
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…
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….
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. …
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.
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…
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…
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…
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,…
GMFS is excited to add features to our Jumbo Express Program. Beginning Monday, February 15th, we will accept Investor Products under our existing Express Program. Please note that you will see a separate program in OB that clearly labels the…
Pick Your Own Loan Term – Now Available on Most Conventional Products GMFS is excited to offer the ability to do NonStandard Loan Terms on most of our Conventional Loan Programs. When you are searching for your loan you will just…