HELOC's when owning more than 4 properties?

[Anthony King]

I currently own 7 investment properties (13 doors), all with conventional mortgages, and I planned to open a HELOC on one of them to use for more down payments. When I called PenFed they said they couldn't give me a HELOC because I have more than 4 total properties and said it is a Fannie/Freddie restriction. I never heard of that. What type of lender should I contact to get a HELOC on one of these investment properties in NY?

Also, any lender recommendations that would open a HELOC on my whole portfolio? I own small multi-families in NY, PA, and OH, if it matters.

Just looking for best options to tap into my nearly $500k of equity across all of these properties. Thanks for any help!