The Capitol Pressroom for Novemeber 29, 2011 | WCNY Blogs
December 1, 2011
The Capitol Pressroom for Novemeber 29, 2011 | WCNY Blogs.
Stephen Acquario, the Executive Director of the New York State Association of Counties comments on what NYSAC would like to see from the Regional Economic Development Councils this week.
NYPIRG’s Bill Mahoney connects the campaign filing “dots” for us. Greg May, VP of Residential Mortgage Lending at Tompkins Trust Company shares his concerns about gas leases and residential mortgages:
“If a standard gas lease exists on a residential property, the terms of the lease would make the loan ineligible for consideration or sale by Fannie, Freddie, SONYMA, FHA or VA programs. These types (of) leases existed in the past but have become far more common with the introduction of high volume horizontal hydro-fracking in the last few years. I believe it would be impossible to indicate that exceptions are acceptable if “commonly granted” by private institutional lenders as a way to avoid the conflict that exists.”
– Greg May, Vice President of Residential Mortgages
Tompkins Trust Company
GDACC 
