The GMFS Wholesale and Correspondent Selling Guides will be changed to reflect a new Early Payoff Policy, effective for all new locks on or after 9/22/25 and all closings after 1/1/2026 regardless of lock date. Please read the new policy below.

Early Payoff (EPO)

An early payoff is defined as any loans, whether a first or second lien loan, that pays off in full or when a curtailment in excess of 30% of the original principal balance occurs within one hundred and eighty (180) days after the purchase date of the loan by GMFS.  When an early payoff occurs, if the payoff proceeds were sent to the client, the client is obligated to forward the payoff proceeds to GMFS.   Further, the client is obligated to refund the servicing release premium and/or other premium pricing paid to the client by GMFS for the early payoff loan.

GMFS will send the client a bill for the refund of the service release premium and/or premium price for all early payoff loans.   If the loan as been sold by GMFS to an investor, the bill may also include an assessment for interest due in the month of the payoff and administrative fee.