Word: bankses
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The process lost more credibility when news came out that banks will be able to challenge the results of the tests between when they get them this Friday and when they will be set in stone the following Tuesday. According to The New York Times, "The banks will then have...
The purpose of the government's stress tests of the nation's 19 largest banks is to find out which will need capital. The evaluations are based on several artificial, and, perhaps, unrealistic criteria. One is unemployment reaching 10% and another is a further, sharp drop in real estate values...
At the same time, underwriting standards have significantly tightened since the boom years of 2005 and 2006, when banks granted loans of up to 95% of a property's appraised value. Today loan-to-value ratios have dropped as low as 60%, so a "very large percentage of outstanding loans...
The Fed is considering a plan to back new securitized commercial-property loans for five years, which could help enliven the market and create new opportunities for refinancing. But real estate executives are pressing for more direct government rewards to lenders, like an extra point on the refinancing or a...
Although relatively few troubled loans will come due before the end of this year, the implications for banks are already being felt. The delinquency rate for commercial real estate loans hit 1.8% in March, triple that of a year ago, according to Scott Talbott, a lobbyist for the Financial Roundtable...