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Updated about 8 years ago,

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9,934
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Chris Mason
Pro Member
  • Lender
  • California
10,784
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9,934
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Funny Real Estate Moments.

Chris Mason
Pro Member
  • Lender
  • California
ModeratorPosted
  • Borrower is pulling equity out of a rental property, to purchase other rentals.
  • Borrower is named Han, and owns several other rental properties. His whole family is all about buy-and-hold REI, they kind of have a little dynastic thing going on.
  • Writes in his cash out refinance motivation letter of explanation three bullet points for what his motivations are. One of them is a pretty funny little joke, he writes that his goal is to "preserve and expand the Han Dynasty."
  • That was only kind of funny. What was REALLY funny is that the underwriter didn't get the joke...
  • ...She conditioned to see the last two years of tax returns for the Han Dynasty, thinking it was a business that the borrower had an ownership interest in. The underwriter apparently is not much of a student of history. 
  • Obviously I do not have a time machine that would allow me to go back 1800 years to Imperial China.
  • There were a couple other conditions, so it didn't hold anything up, but now (due to lack of time travel) there is a "Memo to File" somewhere at Fannie Mae HQ where I explained in great detail what the joke was, what the historical Han Dynasty was, and why the joke was funny.

What you got?

  • Chris Mason