Great News! GMFS has released 1/0 Temporary Buydowns and are now an available! Use Seller paid funds to lower the borrower’s payment for the first year – Conventional, FHA, VA and USDA Minimum FICO for Temporary Buydowns is 640 on…
USDA Change to delinquent child support USDA has announced, effective 11/1/2022 any past due child support must be paid in full. Date determined by the Conditional Commitment.
GMFS Now offers a product specifically designed for Investment Borrowers! Debt Service Coverage Ratio (DSCR) where qualification is not based on personal income but instead it is based on the cash flow from the subject Property Only! Program attributes include:…
Now Available: 2/1 Temporary Buydowns on Government Products! GMFS is now offering 2/1 Buydowns on Government Products including FHA, VA and USDA. Government minimum FICO 640 Use seller paid funds to lower the borrower’s payment for the first two years….
Now Available: 2/1 Temporary Buydowns GMFS is excited to announce another great product for your builder partners! Use seller paid funds to lower the borrower’s payment for the first two years. Available on Conventional products only at this time. Example…
The following forms have been combined into one, now named Veteran’s Questionnaire Veteran’s Disability & Pension Statement Veteran’s Child Care Certification Clarification of Reservist Policy for Veteran’s Affairs Loan The new Veteran’s Questionnaire will need to be submitted with all…
GMFS now gives you the ability to originate loan amounts of $400,000 and up under our current Jumbo Express program. This will give you ARM pricing options that may be more competitive than our current agency ARM options. Please note,…
GMFS is excited to announce we’re ranked by USDA’s Top Guaranteed Rural Housing Lenders National and State Rankings! Thank you and Congratulations to all! For a complete list of USDA’s rankings, click here. To learn more about USDA loans, click…
GMFS Loyalty Program GMFS offers a $750 Lender Credit to existing customers for NEW PURCHASE and REFINANCE! In order to qualify as an existing GMFS Customer, borrower must have an active mortgage with GMFS. To receive lender credit existing mortgage…
Lock Extensions – Change Request Tips https://gmfspartners.com/wp-content/uploads/2022/06/helpful-hints-extensions.pdf 1. In TPO Connect, click on Products and Pricing 2. From there click on Change Request 3. Once Optimal Blue opens up click on the blue Profile Change Request icon at the top…
Ensure a Smooth Process on Your File – Co-Borrower Occupancy Starting May 16th, the Optimal Blue system and Encompass will be pulling the Co-Borrower Occupancy as part of the API and Loan Validations Process. This is to help ensure you…
With a GMFS HomeStyle Renovation Loan, You Can Buy a Fixer-Upper and Finance All the Repair Costs with One Loan Single-close first mortgage that locks in rate & funds upfront for renovation or repairs Any renovation/repair is eligible – must…
One Time Close Program Changes Effective April 1, 2022 The minimum FICO to qualify for the OTC product has been increased from 680 to 700. The contingency requirement for borrowers engaging with a builder on a cost plus contract has…
Please be aware that the GMFS CPM Review for All Existing Condos – Form has been removed and replaced by the Fannie Mae Form 1076 – Condo Project Questionnaire. This reflects the changes made by Fannie Mae to the Condo…
Optimal Blue + TPO Connect Pricing Change Now Available! Faster changes and Fewer Launches! At GMFS we have been working with Optimal Blue to integrate TPO Connect with our pricing engine. This effectively has reduced the number of times that…
