Single-Family Bulletin #19-11 - GSFA OpenDoors Guideline Update

July 10, 2019 | Bulletin #19-11

GSFA OpenDoors ™ Guideline Update

Gateway Mortgage Group and GSFA have updated the GSFA OpenDoors Rate Sheet to include specific Government Loan pricing for borrowers with FICO 600-659 and/or DTI > 45%. This new pricing grid will be labeled “GOVERNMENT GSFA OpenDoors-LLADJ”.

The updated rate sheet will be in effect on Friday, July 12, 2019.

The GSFA OpenDoors FHA, VA, USDA Term Sheet will be updated shortly.

Space Available at Upcoming Lender Training Webinars

for GSFA Ope nDoors™ Program

GSFA lender training webinars are designed to make work easier. Our free workshops bring product knowledge, sales tools and technical skills right to your desk.

Join us for a lender training webinar for GSFA OpenDoors Program. Together, we will discuss program advantages, guidelines and steps for offering this exciting new down payment assistance program to your borrowers.

July 18, 2019 | 10-11 AM PDT

July 23, 2019 | 2-3 PM PDT

August 1, 2019 | 2-3 PM PDT

GSFA OpenDoors Highlights:

GSFA OpenDoors is designed to provide up to 7% in down payment and/or closing cost assistance in conjunction with FHA, VA, USDA and Conventional financing. The Program features some enhancements to credit score requirements, debt-to-income ratios and pricing.

Training Recommended for:

Loan Officers, Originators, Processors and Underwriters

The Program will be available to Correspondent Lenders of Gateway Mortgage Group as the Program's Master Servicer.

Program Bulletins are intended for mortgage professionals only. This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA Participating Lenders.

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