Word: commerciales
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Dates: during 2000-2009
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Financial analysts believe government incentives to banks to extend existing commercial real estate loans will be necessary to limit the damage. The Federal Reserve and Treasury Department are considering a number of options. The alternative is last week's bankruptcy of General Growth Properties, the nation's second largest shopping...
Most mortgages for commercial real estate - office and apartment buildings, hotels, industrial warehouses and shopping malls - are structured as 5-to-10-year loans. After that, the loan is normally refinanced. But the recession has eroded the fundamentals of even good refinancing candidates. Property values have plummeted, with sale prices...
"I doubt too many banks will want to own a lot of commercial properties that are empty," said George Raitu, an economist for the National Association of Realtors.
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...