Who would have thought in 2008 that commercial real estate loans market would be this swathed in the year 2008. CBMS lenders have taken an adversity and the corner banks are making their way to a revival. The bank employees which for a long time could not beat conduit loans because of the greater rates, shorter amortization time frames and shorter fixed terms should be jokingly thanking themselves.

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A lot of these banks have not joined the trend of loosening the underwriting standards or launching new loan plans that were more aggressive. They adhered to the basic principles and were cautious. In the event that the residential real estate loan did not conform to their criteria the loan was rejected. These regional or smaller banks have a surplus of funds and are in a position to savor the deals they'd like and at their conditions. Most of the time, borrowers just have to comply with their demands since all the alternatives are gone or they are unable to be able to get an commercial real estate loans funded.

I was talking to an executive vice president who was proudly boasting the fact that "nothing really has changed here, or default rates are still low and showing no signs of increasing and our funding percentages haven't been altered at all". To him , all the talk about the so-called credit crisis definitely seems exaggerated.

As the majority of the market laughed at these tiny banks, they now have to return to them to obtain loans. We are not the only ones. Working with the bank that is cornered isn't easy. They have committees (that are supposed to meet just once per month) as well as they have the "one step at a time process" and generally are not a good choice for commercial mortgage brokers. However, they do have the funds to lend, therefore I suppose we'll all have to adjust.