commercial mortgage rate: Why Banks turn down 65% of Commercial Loans?
- 03/26/08 08:47 AM
The simple reason 65% of commercial loans are turned down really comes from a conversation I had with a local bank officer. When I went to my local bank, the bank officer asked me what type of business account I wanted to open. I told her, I wanted to open a commercial mortgage business account. She said, oh, you're the competition. I said, not really because all my partner lenders were non-depository, so there was no competition. She said she was glad to hear that because she hadn't closed a commercial loan in 3 months. I asked her, "why not", she said, that … (3 comments)
The simple reason 65% of commercial loans are turned down really comes from a conversation I had with a local bank officer. When I went to my local bank, the bank officer asked me what type of business account I wanted to open. I told her, I wanted to open a commercial mortgage business account. She said, oh, you're the competition. I said, not really because all my partner lenders were non-depository, so there was no competition. ;)
;)
