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Posts Tagged: DTI

Announcements

Update to FHA Overlay – No More Limiting Back-End DTI to 55%

Great news! GMFS is eliminating the guideline that limits the back-end DTI to 55% on FHA with AUS approval. *This impacts FHA loans with TOTAL Scorecard approval. This does not impact or change manual underwriting guidelines. Effective Immediately!

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Announcements

FHFA Announces Rescission of Upfront Fees based on DTI

GMFS is excited to share the latest news from the FHFA. The Federal Housing Finance Agency (FHFA) announced today, May 10, 2023, that it has rescinded the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae…

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About GMFS

We are one of the fastest growing mortgage companies in the United States offering great mortgage financial solutions. Headquartered in Baton Rouge, Louisiana, GMFS originates residential mortgage loans, primarily in the southern states. Founded in 1999, GMFS has approximately 250 employees. more about GMFS

GMFS Mortgage is a BBB Accredited Mortgage Lender in Baton Rouge, LA
Equal Housing Lender. © 2017 GMFS, LLC. Upfront approval subject to satisfactory property review and no change in financial condition. Some products may not be available in all states. All loans subject to credit approval. All mortgages are originated by GMFS LLC at 7389 Florida Blvd. Suite 200A Baton Rouge, LA 70806. NMLS #64997. LA License 619. The retail division of GMFS LLC is Doing Business As “GMFS Mortgage”.

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