# Correspondent Updates

Source: https://www.gatewaycorrespondent.com/announcements/correspondent-updates-3

Summary of updates:


- USDA:  Minimum qualifying score reduced from 640 to 620 (GUS Accept required).
- VA:  Maximum LTV increased on Cash-out Refinance from 95% to 100%.
- VA:  The requirement for a 2055 appraisal on an IRRRL has been removed.


*Please direct questions to your sales manager*