Effective May 1, regardless of credit score, Gateway will no longer offer “Manual Underwrites” on FHA products.  Additionally, all FHA loans being manually underwritten in your current pipeline with Gateway must close and fund by May 1, 2009.  This policy affects manually underwritten loans with Refer/Eligible DU findings. 

 

Approve/Eligible loans that are “downgraded” by the underwriter to a “manual” are exempt from this policy.