- 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
