Commercial Lenders Fretful Over Extended Portfolios
With higher interest rates in the future and portfolios that have some loans that have aggressively been made, commercial lenders are starting to worry. The fear is not whether the market will not fall apart, but which loans in a extended portfolio will turn sour.
There isn’t a crisis in commercial lending — there haven’t been reports of an unusual number of failed mortgages. But the industry is uneasy because of the huge amount of lending during the years-long real estate boom, and because it’s hard to anticipate which loans will sour.
“We are being more aggressive and the impact of that aggressive lending is unknown given that we don’t know how quickly and to what extent rates will back up and how fast property vales will decline,” said Lisa Pendergast, real estate analyst at RBS Greenwich Capital Markets. She added: “Usually, when rates back up property values tend to decline as well.” via The Modesto Bee.
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