# Correspondent Updates

Source: https://www.gatewaycorrespondent.com/announcements/correspondent-updates-8

- Approved States:  Kentucky and Ohio are now eligible states
- Down Payment Assistance:  DPA list updated to include new programs
- File Submission Checklist:  Updated to reflect LE and CD
- Ch. 1 – Added Corelogic ID Number
- Ch. 1 – Underwriting contact information updated
- Ch. 3 – Gateway offers 8 to 30 year amortization terms on conventional loans
- Ch. 3 – Rates and prices are valid until 11:59 p.m. CT
- Ch. 3 – Flood Insurance Escrow requirements on conventional loans
- Ch. 3 – Extended Rate Lock program, properties must be new construction
- Ch. 4 – UCDP requirements on both Fannie Mae and Freddie Mac for all conventional loans
- Ch. 4 – Payment History and Escrow Disbursements
- Ch. 4 – TRID Requirements:  Please refer to September 30, 2015 announcement
- Ch. 5 – USDA Manual underwriting updates
- Ch. 5 – FHA Fixed Rate updated to allow for 15, 20, 25 and 30 year terms
- Ch. 5 – VA Fixed Rate updated to allow for 15, 20, 25 and 30 year terms
- Overlay Updates:


  - Credit Score Requirement:  Removed overlay of minimum requirement of two credit scores per borrower
  - Flood Insurance Escrow:  Please see January 4, 2016 announcement for details
  - USDA:  2-4 Units not allowed for Manual Underwrite and 44% max DTI
  - Underwriting:  Conventional, USDA, FHA and VA requirements