Sub-divided deed on property to purchase

[Mark Oliver]

 I'm looking at two houses the have historically been on one deed.  The seller says he sub divided them but did not rewrite the deed yet to avoid tax.  He will write the two deeds at transfer to the buyer.  He's offered his lawyer's contacts to verify this.  I would be looking at  mortgages on the properties (two deals) and the loan originator I work with is saying she doesn't think this will make it through underwriting as there is no deed on at least one of the properties today.  Does anyone have experience with a deal like this?  Is this going to become a nightmare?

Thanks,
Mark