Situation
DUS lender making a loan to a large institutional sponsor ran up against an agency requirement which, initially, the agency advised was non-negotiable. This was highly problematic for the sponsor and threatened to kill the financing.
Challenge
DUS lender was seeking a waiver on an agency requirement that involved a combination of mitigation factors and a delegated waiver portion. After numerous proposed solutions had been presented, the ultimate structure presented as confusing and complex.
Harbor Analysis
Harbor reached out via our direct line relationship, provided valuable background and, after careful review, the agency approved the waiver.
The Solution
Harbor’s understanding of the agency’s needs and central concerns allowed us to structure an efficient and effective waiver request that was ultimately approved without multiple follow ups or overlitigation of the issue.
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