Since 2015, the bank has purchased over $5.7 billion in unpaid loan balances
Closing times are also dropping and credit is loosening, according to a new report
Commercial and multifamily mortgage debt increased by $24.5bn in the second quarter, according to a report by the Mortgage Bankers Association
Banks will be seeing a surge of borrowers seeking commercial property loans following the Fed’s decision to stay the course on its bond-buying program
Commercial and multifamily mortgages are improving, with delinquency rates seeing the biggest decline on record last quarter
Private money loans, also called hard money loans or bridge loans, are still the top choice for real estate investors in the wake of the bank meltdown of 2008 and 2009. Many real estate investors have marks on their credit after the real estate crisis and can no longer qualify at the bank. Hard money loans have allowed these investors to get back into the real estate game again and start hitting.
Bridge financing is short-term financing, sometimes referred to as private money or hard money. Bridge loans are typically made by private individuals and not banks, so the interest rates on bridge loans are higher than bank loans.
A major residential lender has announced the launch of a commercial division