Need some help from you lenders out there!

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Hi I am a Mortgage Specialist and this is the only loan I have ever came across that is sticking it to me...I can't find someone to finance this deal and I know it's going to be hard but I don't want to give up.

SFR-Refinance Cash-Out in NJ
513 Mid
1x120 Mortgage
Stated
Appraised value=$520,000
Current Balance=$405,000
Needs $20,000 Cash
Plus must pay off current lates= around $16,000
Basically with all fees and cash and paying off current late payments new loan amount needs to be $447,000 and that works out to around 87% LTV can anyone do this??? Direct Lenders please contact me!