As business and the market slowly begin to move toward a sense of normalcy since the COVID-19 crisis, GMFS has started to make adjustments to expand the credit availability and improve pricing for your borrowers. See below for change to credit and price.

Government Pricing Changes

• FHA     640-549 FICO previously suspended   NOW ACCEPTED new locks with price hit of 1.50% 
• VA        640-659 FICO previously suspended   NOW ACCEPTED new locks with price hit of 1.50%
• USDA  640 -659 FICO previously suspended  NOW ACCEPTED new locks with price hit of 2%

Conventional Business Pricing Changes 

GMFS will now reduce the following price hits that were added during COVID-19. All other GMFS pricing models will still apply.

• 700-719 FICO additional hit removed
• 680-699 FICO additional hit dropped to 25 bps
• < 680 FICO additional hit dropped to 50 bps

These changes are effective with new locks beginning today, 6/11/2020. 

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