commercial rates: CRE News - "Cherry pickin" - 07/30/08 05:27 PM
There is a real concern over "cherry picking" the best deals with the remaining national commercial real estate lenders. Business is booming for these guys and no plans in increasing personnel to cover the new loan submissions. This is affecting CRE agents across the nation according to the latest CB Ellis survey. New purchase sales are down over 70% in many areas with local and national lenders passing on many deals. All income streams for the agents are under pressure. Some of our agent partners still believe this is a down cycle which has been seen before and will come back … (2 comments)
commercial rates: Lehman Brothers shuts it down but on the bright side: - 07/08/08 10:44 AM
Wow, the news just keeps on coming. We pretty much saw the warning signs for some big news to hit with the second quarter coming to a close. However, 2 of the biggest names in the business closing shop doesn't bode well for the industry. Definitely shrinking the the funding sources who are now easily cherry picking loans. Lehman Brothers Small Business Finance was a valuable option for many business owners needing to leverage cash or utilize a non bank lending program. Unfortunately, they have been mortally wounded by the sub prime mess and announced closing of the division. It's a … (5 comments)
commercial rates: CRE News - Indymac another casualty - 07/01/08 03:05 PM
Bad news in my world again today. IndyMac created a commercial division to become more diversified. However, it was too little, too late for them. It wasn't entirely unexpected but the way it was handle certainly was. The production team was let go at the end of the day on Monday and the division closed without any ado. Phone lines and emails went unanswered this morning. It's too bad because they did create a niche for just a little larger underwriting box. Any loans with locks are supposed to be honored but I'd sit on the deal if you have a … (0 comments)
commercial rates: CRE News- Okay this blog world is harder than programming my VCR. - 06/26/08 01:18 PM
Had a comment deleted in another. Realized that posting into a group that has many comments should be relevant. Reading the forum helps. DUH........ My own blog hasn't relevant to my forum so from here on I decree that I will do better. I have been getting calls from many mortgage brokers and agents still trying to close loans based on criteria that has been long gone. It's nothing personal but the secondary market has just stopped purchasing many loans and cherry picking the rest. We can go over a million reasons why this is happening but let's start with just … (0 comments)
commercial rates: CRE News - Do gas prices affect rates? - 05/22/08 09:27 AM
Many people in and out of the industry don't quite understand how gas prices affect real estate rates. The short and simple is this. Commericial Market Bond Securities (CMBS) rates as well as residential securities are sold as bonds on the secondary market to investors seeking to invest in commercial real estate. Bond holders receive fixed interest income payments. These fixed income payments are highly sensitive to inflation which eats into any fixed return. Higher gas prices affects the trucking industry greatly as well as inflation because almost everything you see sold has been delivered there by trucks or some other transportation costs. By the way, bond investors … (4 comments)
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There is a real concern over "cherry picking" the best deals with the remaining national commercial real estate lenders. Business is booming for these guys and no plans in increasing personnel to cover the new loan submissions. This is affecting CRE agents across the nation according to the latest CB Ellis survey. New purchase sales are down over 70% in many areas with local and national lenders passing on many deals. All income streams for the agents are under pressure.;)
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