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Is your bank able to lend right now?
The title to this blog is a real question posed yesterday by one of my customers. It's a good question, and an understandable one, given all the negative media about banking, bank failures, TARP bailout money, Texas Ratios, etc. My truthful answer was (is), "It all depends on the purpose of the loan, the viability of the total relationship (checking accounts and other services brought to the table by the same borrower) & marketability of the collateral." That's bankerspeak for "stuff that's not very risky." Right now, that translates to two types of real estate loans, 1) Fully-qualifying, fully-documented, conventional residential mortgages with LTV's under 80%; 2) Well-maintained, owner-occupied commercial first mortgages (mini-perms). Assuming we're comparing apples-to-apples in terms of borrowers' creditworthiness, Crescent Bank is just as inclined today to approve a loan in those two categories as we would have been three years ago. ... more

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