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 ā Now Available on Most Conventional Products GMFS is excited to offer the ability to doĀ NonStandard Loan Terms on most of our Conventional Loan Programs. When you are searching for your loan you will just…
The U.S. Department of Housing and Urban Development (HUD) is once again supporting a program that allows immigrants under the Deferred Action for Childhood Arrivals (DACA) program to apply for Federal housing Administration (FHA) mortgages. Under the DACA program, people…
Ring in the New Year with Bonus Pricing! GMFS is ringing in the New Year with 25 BPS bonus in pricing for conventional purchases to kick off 2021! Take advantage of this bonus pricing while it lasts. For a limited…
GMFS VA IRRRL Upfront Submission Requirements 1003 With Employment (income not required) If loan being refinanced isĀ not a GMFS loanĀ ā tri-merge credit report including current month record. If loan being refinanced isĀ an existing GMFS loanĀ ā VOM can be provided. To…
The IRS recently announced that it will be replacing the form 4506-T IRS Tax Transcript Request with a new form, the 4506-C. The IRS will no longer accept the 4506-T form as of March 1, 2021. Yesterday, Fannie Mae also…
FEMA has not issued an official declaration of areas nor end date yet. However, GMFS will follow this policy until further notice. It is subject to change as FEMA issues any releases. For Hurricane Zeta, GMFS will tentatively use November…
Check for PIW and Compare Price on All Loans with these Best Practice Tips – NEW download PIW Letter of Explanation (a completed LOX will be required by UW) Check for Property Inspection Waiver (PIW) It is always a best…
Disaster Affected Parishes: Hurricane Delta FEMA Map is now updated with individual assistance for the following parishes in Louisiana: ā¢ Calcasieu ā¢ Cameron ā¢ Jefferson Davis ā¢ Acadia ā¢ Vermillion Event end date has been created: October 10.
The devastating hurricanes along the Gulf Coast have impacted GMFS customers, partner clients, employees and our vendors. Weāre here to help! Appraisal Requirements_Generic Matrix – updated 10/15 Please use this guide as a resource for navigating how to move forward…
Starting Monday 10/12/20 GMFS will be monitoring the lock extensions in order to appropriately manage the changes required by Fannie and Freddie related to Adverse Market Fee. Please be aware that you may temporarily see short delays in your change…
The devastating hurricanes along the Gulf Coast have impacted GMFS customers, partner clients, employees and our vendors. Weāre here to help! Appraisal Requirements_Generic Matrix Please use this guide as a resource for navigating how to move forward with appraisals on…
BESTX Mortgage Insurance Enhancements āWith this release, we are making several enhancements to our BESTXā¢ Mortgage Insurance quote search functionality, adding additional parameters to the quote request and updating both the quote request and search results screens. New Fields Added…
FHA Underwriting Guidelines: Borrowers with Previous Mortgage Payment Forbearance On September 10th, FHA updated their Underwriting Guidelines for Borrowers with previous Mortgage Payment Forbearance, please see FHA Mortgagee Letter 2020-30 for complete details.
GMFS #3 Best Places to Work in Baton Rouge 2020 GMFS is aĀ 2020 Best Places to Work in Baton Rouge Winner! The awards program is a project of the Greater Baton Rouge Business Report, the Greater Baton Rouge SHRM,…