ASSIGNMENT:

Cash Out Refinance.

CHALLENGE:

This loan came with multiple borrowers and multiple entities, some living in other States. Coordinating the request and receipt of all documentation was difficult with 7 borrowers, all of which were not sure they would qualify.

SOLUTION:

ALB worked with the borrower’s CPA and Management Company to gather documentation, so borrowers were not inconvenienced. ALB was able to underwrite all 7 borrowers before money was spent to start loan. The UW showed an approvable loan. With confidence, ALB submitted the loan request and successfully closed the loan with no problem.