BANKS, ETC, THAT WILL NOT FUND GAS-LEASED PROPERTIES
Here are the names of banks, credit unions, investment firms that will not fund leased properties, based upon environmental risk, as per information gained from a mortgage broker who is looking further into the situation, Lori _______
First Place Bank, Provident Funding, GMAC, Wells Fargo, FNCB, Fidelity, FHA, First Liberty, Bank of America
From: ________________
To: _______________
Sent: Thursday, April 22, 2010 12:32 PM
Subject: RE: Question on Properties with Gas leases
Hi Dave,
You are correct, Dave--a “Gas Leased” property will find it very difficult to obtain financing due to the potential hazard.
Also if the Gas Leasing is new to the area there are too many unknowns such as will this have an effect on the marketability of a property, value etc.
P_______ ________
Executive VP for Mortgage Loans
Wells Fargo
From: L____ ________
To: __________________
Sent: Tuesday, June 01, 2010 10:54 AM
Subject: RE: First Place Bank wholesale rate sheet and JUNE special
Sorry Lori, we would pass on this as well.
L______ __________, Assistant Vice President
First Place Bank
