New certification aims to improve services
Gateway Mortgage, a division of Gateway First Bank, has introduced a new certification program designed to enhance support for military personnel and their families navigating the home loan process.
Through the Military Mortgage Advisor certification, Gateway said it aims to deepen the expertise of its loan origination team in handling Veteran’s Affairs (VA) home loans.
VA loans, partially insured by the Department of Veterans Affairs, offer benefits including up to 100% financing with no down payment, easier qualification requirements, reduced interest rates and no private mortgage insurance required.
“Because VA Home Loans are unique compared to other types of mortgage products, Gateway wants to ensure our loan origination team is extremely well versed so that the home loan process is easy and as stress-free as possible,” Mark Revard, divisional executive vice president and national production manager for Gateway, said in a media release. “Often, the home purchase process begins while military members are deployed overseas and preparing to return to the United States.”
The announcement comes as the lender, a division of Gateway First Bank, reaffirms its commitment to providing specialized mortgage products and services to active-duty military personnel, honorably discharged veterans, surviving spouses, reservists and National Guard members.
Gateway has donated over $700,000 to the Folds of Honor nonprofit, which provides educational scholarships to families of fallen and injured service members.
“Gateway proudly offers this program to those who have answered the call to defend the freedoms all American families enjoy daily,” said Jack Little, Area Manager in Bluffton, SC. “Gateway’s commitment to our service men and women can be seen by the service and products we offer and in how we partner with Folds of Honor. A portion of every closed home loan is donated to help with educational scholarships for the families of fallen and injured service men and women.”
The certification comes after the recent launch of a new VA Servicing Purchase (VASP) program to assist struggling VA borrowers facing potential foreclosure by allowing the agency to purchase and modify defaulted loans.
Read more: Servicers not ready yet for VA foreclosure relief program - MBA
The VA has extended the deadline for servicers to implement the complex VASP program beyond its initial effective date of May 31, giving more time to ensure its smooth rollout.
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