Do Portfolio lenders typically want reserves?

[Samantha Klein]

This question is for anyone who has a relationship with a portfolio lender, does your lender require a set amount of reserves per property like Fannie Mae? This is not a debate on whether you should have reserves. For example, if I owned 5 properties and Fannie required 40k in reserves, if I had 15k, would a portfolio lender be able to close a deal if everything else was sufficient?