Nadlan Capital Group – Financing For Foreign Investors in the US Market
Mortgage Horror Stories & the Nadlan Experts Team Saving the Day
As mortgage brokers and lenders, we see ourselves as problem solvers, and with every loan comes a different story and obstacles, and this is where a professional and experienced team comes in handy. A few examples of complicated loans or ones that went south.
Appraisal that came back as a Rural Property
We had to “fight” the appraiser to fix that issue.
Non-Warrantable condos
A condominium unit that does not meet the eligibility criteria set by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac.
A fully renovated building in a great location but that is completely vacant.
Property management that doesn’t want to sign the Property Management questionnaire, not to disclose information.
Borrowers who wanted to change many sections from the lender’s legal documents.
Borrowers that were looking for delayed financing which means they first buy with cash and then we refinance within 90 days and get them the money out from the purchase price and the renovation costs.
Lack of experience for a New Construction loan
Needed to add a co-signer with flipping experience.
A borrower who is in the process of a US Green Card didn't want to open an LLC
Had to locate a borrower who would allow that.
A rental property for a refinance that had a DSCR of 0.65 which is considered very low.
We found a lender that would do that for a bit higher rate.
A borrower who was not responding and we got the loan to closing, after doing 2 appraisal extensions and rate locks, and then simply didn't sign the loan while it was ready to close after 6 months of work.
