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…
New IRS Form 4506C
The IRS recently announced that it will be replacing the form 4506-T IRS Tax Transcript Request with a new form, the 4506-C. The IRS will no longer accept the 4506-T form as of March 1, 2021. Yesterday, Fannie Mae also…
$4 Billion Loans Closed
We are honored to celebrate this achievement and thank all of our business partners and employees for helping us get here. For over 20 years we have been Changing Lives and we couldn’t do it without you!
Best Practices for PIWs and Pricing – NEW Download LOX
Check for PIW and Compare Price on All Loans with these Best Practice Tips – NEW download Appraisal Alternative Notice (a completed LOX will be required by UW) Check for Appraisal Alternative Notice It is always a best practice to…
GMFS $3,000,000,000 Production
Congratulations to our GMFS Family for $3,000,000,000 Please help us congratulate our team at GMFS! It takes a lot of hard work and dedication to reach this milestone and it definitely does not go unnoticed by our peers and partners….
BESTX Mortgage Insurance Enhancements
BESTX Mortgage Insurance Enhancements With this release, we are making several enhancements to our BESTX™ Mortgage Insurance quote search functionality, adding additional parameters to the quote request and updating both the quote request and search results screens. New Fields Added…
GMFS Best Places to Work Winner 2020
GMFS #3 Best Places to Work in Baton Rouge 2020 GMFS is a 2020 Best Places to Work in Baton Rouge Winner! The awards program is a project of the Greater Baton Rouge Business Report, the Greater Baton Rouge SHRM,…
Update – Fannie/Freddie Announce Refinance Price Adjustment Postponed,...
New Adverse Market Refinance Pricing Fee Postponed! The Federal Housing Agency has directed Fannie Mae and Freddie Mac to postpone the previously announced loan-level price adjustment of 50 bps for new refinance transactions. The new refinance price adjustment will NO…
Tom D’Armond Discusses Options for Homeowners with LPB
From LPB’s Louisiana: The State We’re In – Tom D’Armond, VP GMFS, discusses the current problem and solutions available for homeowners during the pandemic. Louisiana ranks second in the nation in homeowners who are behind in their mortgage payments, related…