Hud requestiing bank statements from a hard money lender

[Ade O.]

I just had a deal fall apart because hud requested the hard money lender show a bank statement or letter from their bank showing they have enough funds to close the deal, when I told the lender about this they were dumbfounded, they told me that the funds was available but it would not be in the lenders account, since they pulling these fund from a pool of investors, and I spoke to more than one hard money lender and they told me the same thing(they were both willing to issue a strong letter of intent, hud said this was a new policy) I am wondering if anybody else has had this experience