Subject: Invalid Compensating Factors - tip of the day
Good Morning.
Today is Wednesday, February 15, 2012
All wholesale staff is available
Current turn times are 72 hours
Tip of the
day – Invalid Compensating factors –Per FHA
Reserves as the result of a gift
Good credit
Long time on job or in current
home
Spouse not on loan
Cost of Living Allowance (COLA)
Paying off debt
Tax advantages of homeownership
In addition, Gateway Mortgage Group does not consider receiving
a tax refund to be a compensating factor.
Thank
You!
Neil
Johnson
Gateway
Mortgage Group
National
TPO Operations Manager
4201
N. State Hwy 161
Irving,
TX 75038
Office:
972-908-3390 ext. 118
fax#
918-858-8392