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California banks reported a modest reduction in multifamily problems in the final quarter of 2009 over Q3 2009, but still reported nearly 80% more trouble overall than the same quarter in 2008. The final figures for the end of 2009 topped $1 Billion, up 80% from a year earlier. This figure includes multifamily loans that [...]
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US banks reported an increase in distressed mortgage and REO volume of nearly 10% over the previous quarter. Troubled real estate and distressed whole loans with banks now top $352 Billion, up from a little more than $320 Billion in the previous quarter.
Residential Real Estate Problems
As expected, residential real estate continued to be the dominant [...]
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Members have been telling me they’re eager to see the latest data from the banks, and we’re eager to give it to you. So I thought I’d explain a bit about how and when we get our distressed loan and REO data so you know what to expect.
Banks are regulated by a number of agencies [...]
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One question I get a lot is “Who should I be asking for at the bank?”. The answer depends on a a few things 1) the size of the bank 2) what your offer is 3) your comfort level with the material of the discussion 4) your existing connections.
Sales experts will tell you that selling [...]
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Construction loans continue to be a huge problem for banks. In fact construction loan problems at US banks top $85 Billion in the most recent report. Construction loans make up about 30% of the total problem loan and bank owned property balances with banks nationally.
While you might expect to see lenders from Florida, Nevada and [...]
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