Gateway’s policy for VA (Veterans Administration) loans (all VA loans regardless of transaction type i.e. purchase, rate/term etc.) is that the Adjusted Origination Charge (line 803) cannot exceed 1% of the loan amount on the HUD-1.  This Charge will include Underwriting, and/or Rush or TX Doc Prep Processing Fees.  Additionally, Discount Points reflected on line 802 of the HUD-1 must be a dollar-for-dollar match to the Discount reflected on the Lock Confirmation. 

Discount Points may not “overcharged” to the borrower.

Happy Selling!

J. Whitney Barth

VP Operations

Gateway Mortgage Group LLC

5/04/2010