ASSIGNMENT:

This was a cash out refinance for a repeat client. Always a joy working with them.

CHALLENGE:

The clients building was tagged under the soft story retrofit program by the city of Los Angeles and as a result the work had to be completed, to satisfy the Lender.

SOLUTION:

We quickly packaged up the deal got it approved and was able to satisfy the lenders requirement for soft story retrofit post-closing by having a small holdback equal to the amount of work left for completion.