Originator: Carolyn Whatley
Challenge: In the final week before closing, the impending arrival of Hurricane Isaac shuttered the New Orleans HUD office and prevented the loan documents from being delivered to the borrower’s offices in Miami. In addition, wide-scale flooding caused by the storm threatened to delay the recording of the mortgage, which would have prevented the loan from being funded on time.
Solution: Working with HUD officials, Whatley and the Love Funding closing team were able to move the closing to the agency’s Fort Worth office and overnight the loan documents before Hurricane Isaac made landfall. Love Funding worked with the entire team to facilitate loan closing in the most challenging of conditions. “Love Funding was able to accomplish the impossible for us given all of the disruptions caused by the hurricane,” said Robert M. Anderson, controller of Astor Properties, the management agent. “Everyone at the company did a tremendous job.”
Deal Insider provides insights into Love Funding’s recent loan closings, with an emphasis on how the originator helped the client address a specific challenge.