New Non-QM Programs
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…
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…
GMFS Ranks #24 Top Wholesale Volume
GMFS is honored to be ranked 24th in this year’s Scotsman Guide Top Mortgage Lenders – Top Wholesale Volume rankings! Scotsman Guide’s Top Mortgage Lenders is the industry’s most-comprehensive, verified rankings of the nation’s top-producing mortgage companies. To ensure that…
Jumbo Express: Updated!
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…
USDA Ranks GMFS a Top Lender!
GMFS is honored to be ranked in USDA’s Top Guaranteed Rural Housing Lenders National and State Rankings! Thank you and Congratulations to all! For a complete list of rankings click here.
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. …
No Transcript? No Problem at GMFS!
We have updated our tax transcript policy! Updated GMFS Tax Transcript Policy – Flyer
GMFS Insurance Requirements
Insurance Coverage and Maximum Deductible Requirements
Manage Your Locks Closely
Interest rates may have hit the bottom and are on the rise…but the GOOD NEWS is that they are still near historic lows! We’ve seen dramatic movement in pricing on some Products just the past few weeks. It is more…
The New URLA – Cheat Sheet
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. See…
Jumbo Express – Now Accepting Investor Products
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…
NonStandard Loan Terms Now Available
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…
DACA Recipients Can Now Apply for FHA Loans
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…
Improved Turn Times
It’s been a great start to 2021! We appreciate your continued trust and partnership. Thanks to our dedicated staff, our turn times have improved! Submit your files today.
VA IRRRL Process
GMFS VA IRRRL Upfront Submission Requirements 1003 With Employment (income not required) If loan being refinanced is not a GMFS loan – tri-merge credit report including current month record. If loan being refinanced is an existing GMFS loan – VOM…