A residential mortgage loan broker introduced us to the clients. The clients were in the process of wanting to refinance their home and the subject property and once we received the assignment we were ready to get going on the transaction. However, they had decided to refinance their home first with their loan broker. It took them a lot longer than they had expected to refinance their house so 4 months later we were contacted and we jumped on the assignment.
Once we received the green light to proceed our team got moving on the deal and the clients were surprised on how much faster things were happening on this commercial refinance as compared to the home refinance they had just completed. We had no real challenges except that we had to rebuttal remarks made by the appraiser as to how they referenced the size of the units in the appraisal report. Ultimately the descriptive language was changed with the help of the review appraiser.
We applied our knowledge to the transaction and matched the investors financing needs to the best loan program to accomplish their goal and objective. It's always a great pleasure to end the transaction with positive feedback from the clients. Hope to be doing another deal with them soon.