Effective June 15th Gateway will be requiring our Setup Department to pull new credit. 

It has become necessary to facilitate this request with FNMA’s new LQI initiative and FHA/GNMA’s guidance on Lender quality.  The credit report pulled thru Setup must adhere to Gateways current submission policies.  Gateway’s main objective is to build successful partnerships with our LO’s and Brokers and close Quality business.  It is becoming more and more dangerous for Gateway to accept third party credit reports as the Lender now has the requirement to validate all information on the credit report up to and including inquiries that may or may not have been opened since the credit report pull date.  Please inform your staff and your clients to this change.  Thank you

 

 

Steve Peters

COO/ CCO

Gateway Mortgage Group LLC
(972)908-3390--Dallas

steve.peters@gmos.us

6/10/2010

 

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