You may have recently received a communication—either by email or mail—from the Department of Veterans Affairs (VA) regarding the Annual Renewal and Validation requirements (see sample below). After further clarification with the VA, we have been informed that all VA-approved agents must…
In response to recent updates from USDA and FHA, and to help clarify eligibility for Conventional borrowers, GMFS is updating and refining the Citizenship Requirements in our Guide. USDA changes are already in effect, as previously announced by the agencies…
Lock Desk Hours for Thursday & Friday Thursday, April 17th: the Lock Desk closes early at 1:00 PM CST Friday, April 18th: the Lock Desk is CLOSED No new locks will be accepted, but changes can be made online. GMFS…
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Great news! We have simplified how to access HomeReady/HomePossible rates and pricing. You no longer have to select the Affordable product type for these programs. Simply run your scenario through OB with just the Standard button clicked (see below). Best…
GMFS has reviewed and will follow FHA’s instructions per Mortgagee Letter 2025-09. This ML is updating the eligibility for people who are not citizens of the United States. Our intent is to continue to process non-citizens using the same FHA…
Great news, GMFS is offering new Low Loan Balance Price Enhancements on Conventional Standard Agency 25 and 30 Fixed Rate Products! Beginning Monday March 24th, you will see these new adjustments on your new locks. Adjustments are determined based off…
We are excited to announce that we have partnered with Encompass eClose as one of our Digital Closings providers. We will begin using Encompass eClose on February 17, 2025 to: Improve the borrower experience by having one login for signing…
Effective 02/04/2025, GMFS will transfer some of the FHA, VA and USDA it is currently servicing to Carrington Mortgage Services(CMS). Customer Support: Carrington Mortgage Services’ Customer Service team is ready to assist your clients with any questions or concerns. The…
After years of a successful partnership with Capital Area Finance Authority to provide the Purchase Advantage product to our borrowers, GMFS will be temporarily suspending the product. We hope to welcome a new product with CAFA in the coming months. …
New 2025 Conventional Loan Limits – $795,000 Effective with locks taken after 9/25/2024 Applies to standard Fannie Mae and Freddie Mac eligible programs Loans with AUS Approve/Ineligible or Accept/Ineligible (ineligible for loan limits only) are eligible for delivery and will…
9/25/24 Update: FEMA has added Jefferson Parish to the list of designated counties impacted by Hurricane Francine. The established end date is September 12,2024. Update: FEMA has established an “End Date” for Hurricane Francine of September 12,2024 Effective Today, September 17,…
