getting a new loan when I have wrap loans on my balance sheet?

[Mike Ry]

I unloaded a couple of rental properties last year via owner finance.  I originally bought these with 30 year Fannie Mae mortgages, and the loans I extended to my buyers "wrap around" the Fannie Mae mortgages, which I continue to pay. 

I now have the chance to pick up another rental at a pretty good price.  I expect that if I tried to get a Fannie Mae mortgage on the new property, the loan officer will notice that--while the old Fannie Mae loans are current--those old properties are no longer titled to me.  And the result would be a prompt rejection of my application.  So perhaps a local credit union or community bank would be a better shot?

I'd be interested to hear from anyone who has obtained new financing with wrap loans on their balance sheet, or even attempted it.  Was it an obstacle?  If so, how did you get around it?