10 Mortgage Limit Issues With Lender. In Escrow Help!

[Julie Smith]

I have a few questions regarding mortgages. I currently have 9 mortgages in my name...well 8 with a HELOC, I am in Escrow with a Duplex in Florida. My credit score is 780+, I have over 200k for reserves and the downpayment but my lender told me that Ive just been told by the underwriter that my loan is going to have to be cancelled.

For the past few years I have worked with my son and daughter in law buying rental properties.  We have bought 9 in our name, and they have 12 in solely their name.  We have a non written gentlemen's agreement that says we split the profit 50/50.  My son and daughters rentals appear on our taxes because of income, but we are not on the title or mortgages...essentially we are the property managers.

The loan company said that these houses my son and daughter counted towards the 10 mortgages and they had to cancel our loan....but none of those mortgages are in our name....so we should have 1 mortgage left? Right?  

Im worried about falling out of esrcrow.  Is there anyone who knows a lender who has helped with issues like this, or are these new COVID rules.  Weve gotten plenty of mortgages with no issues before.  Im looking for some help.

[Julie Smith]

About 2 weeks in, and closing November 10th.  We've already had the appraisal and inspection completed, we went through initial processing.  The company said they are sending it to a second underwriter and we will know within 3 days if we can continue the loan.The a company we haven't used before but they are big name, and they said we could have 10 mortgages.

Is this a bonehead first underwriter and we will get luckier with the second guy?   Could it be a COVID restriction?