ASSIGNMENT:

This was a repeat borrower who returned to ALB Commercial Capital for the third time to refinance his Apartment Building.

CHALLENGE:

The biggest challenge was the turn time on appraisals was ridiculous and this appraiser really missed the mark on values. Fortunately, we were very low leveraged on the transaction and his value had no negative affect on the loan, but still the appraiser in our opinion should retire.

SOLUTION:

ALB Commercial Capital was able to negotiate with the current lender to have the prepay forgiven for the borrower and placed them into a nice new loan program. Great guy hope to see you back in a few years.