Gateway is still allowing loan
submissions for borrowers on USDA with 1 score or even no score but will
require the following be in place: A Non-Traditional Mortgage Credit Report
(NTMCR) will be required for one score and no score credit reports. The NTMCR
will serve as a substitute for
a traditional credit report for borrowers who do not
have sufficient credit history or have not established sufficient traditional
credit references.
In no case will the NTMCR be
utilized to enhance the traditional
credit history of borrowers with poor
payment records.
Happy Selling!
Justin Perry
Sr. Underwriter
Gateway Mortgage Group
1255 W. 15th Street| Ste. 540|
972-908-3390 ext. 125| 918-392-8349 eFax
11/18/2009
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