We have been open for 34 years and have had many unusual situations in lending and real estate.
We once got a loan approved that I thought the lender would turn down because the property was poorly maintained. The banker was in my office and I mentioned that, and he said the property was beautiful. We pulled the file and the appraiser had pasted the wrong pictures on the appraisal. I told the banker that this was not the property. He said that the following week the bank would drive by the property and it it looked good the loan would still be approved. Well. We got a group of our loan officers and painted the front and side of the house, planted some bushes and flowers. We made the property look great. The bank drove by and approved the loan. Our borrower was physically disabled. We were so happy for the borrower.
Once we got a loan approved for a buyer to purchase his first home. The loan was approved but during the escrow the bank went bankrupt suddenly. We sent the loan to another bank and that bank also went out of business during the escrow. This was in the early 90's and there was a lot of bank disruption. Two times the loan was approved but fell throught. We got money from all of our loan officers and made the loan ourselves and had the borrower sign a note that he would cooperate with us to find a new lender in 90 days - We were successful and funded the loan !
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