Moving existing rental property into an LLC - Mortgage company sayin "no"

[Michael Greco]

I have an existing rental property that I am trying to move into an LLC.

The mortgage company (Washington Trust) is saying "no" and that I would need to refinance.  That means at a much higher interest rate (currently at 3.5%)

The bank said that would finance a single asset LLC. I assume that means that they would not finance a multiple asset LLC.

Does anyone have any recommendations for this process?

[Michael Greco]

Thanks @Adam Bartomeo and @Chris Seveney.

My plan to move the rental property to an LLC was to remove personal assets from any liability claims (i.e restrict liability claims to assets of the LLC).

Yes my plan were to quit claim the deed to the LLC, but if the mortgage company is not cooperating I probably have little choice but to leave as it is.