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,…
Streamline Refinance FHA and USDA options are available to help your borrowers. FHA Streamline Overview Matrix USDA Refinance Options Matrix
updated 09/24/2024 Download: Appraisal Alternative Notice Form Download: Appraisal Waiver Procedures Flyer Fannie and Freddie have implemented Property Value Modernization Initiatives to offer more flexibility relating to subject property review and value. These products replace the traditional Property Inspection Waiver…
Great news! GMFS will now accept FHA Loans down to a 580 with the following overlays: 580-619 FICO FHA Loans Manual underwriting is not allowed No rent-free borrowers allowed Verification of rental history is required. Must be verified with VOR…
Your Annual TPO Recertification’s for GMFS will begin August 5th. Over the next few weeks we will be sending out recertification request by email. Please complete your recertification no later than October 31, 2024 to ensure there is no interruption…
Consumer Connect now has a one time passcode for your borrowers when logging in to sign disclosures or the prelim CD. Please let the Disclosure Desk and/or the GMFS Closer know which phone number you would like to have the…
USDA RD 2024 Income Limits RD has announced income limits for the Single Family Housing Guaranteed Loan Program have been updated. New Income Limits for Most Parishes/Counties: 1-4 Household: $112,450 5-8 Household: $148,450 The new income limits for all parishes…
