Reminder: GMFS will adopt the new LLPA adjustments for all new locks beginning today, March 1st. IMPORTANT: If a lock is originally priced off of the (old) LLPA grids and extends past March 31, the (new) LLPA grids will be…
For loans originally priced off of the prior (old) grid set, the new LLPA grid will be applied if the lock expiration is extended past March 31. The new LLPA grid will also be applied if: Brokered: the loan funds…
GMFS will adopt the new LLPA adjustments for new locks with lock periods of 45 days and longer beginning tomorrow, February 9th. Lock periods of 60 days and longer are once again available. Lock periods of 30 days or less…
Fannie Mae and Freddie Mac recently announced major changes to loan level price adjustments (LLPAs), GMFS will be adopting these changes to loans funded or purchased after March 31, 2023. Beginning today January 31st, lock periods of 60 days and…
Affordable Lending-Announcement
Beginning December 19, 2022, GMFS will waive all Investor LLPAs on Conventional loans if the loan meets all of the below requirements. First Time Homebuyers: • Any borrower on the loan is a first time homebuyer • Qualifying Income based…
