ASSIGNMENT:

Clients requested a Rate & Term Refinance for their property loan.

CHALLENGE:

This refinance was presented to Efon Manriquez as a “cash-in to close” event. Borrower was told by other brokers that cash would be required to close because of debt service issues. Borrower wanted to come in with the least amount of money to complete the refinance at lower rate. At the same time, rates were moving up and reducing the loan amount by functional default.

SOLUTION:

Senior Loan Advisor, Efon Manriquez, quickly underwrote the file, shored up loose ends, analyzed and made sense of operating statements, & secured rate with lender not tied directly to daily treasury yield adjustments and was able to successfully close the loan without any cash-in to close.