CommercialLeads.net - Federal Guidelines for Commercial Loan Mods Issued
The Federal Government recently issued a Policy Statement regarding the restructuring of commercial debt laying the foundation for banks and servicers to work through the nearly 2 trillion dollars in maturing loans coming due over the next few years. With little financing available for refinancing and ltvs out of control there is little opportunity to obtain new financing.
- (1888PressRelease) September 08, 2010 - The Federal Government recently issued a Policy Statement regarding the restructuring of commercial debt. While this is not the same type of program or edict as on the residential side it has provided both motivation and guidance for all banks as to how, when and under what circumstances commercial real estate loans should be modified.
The governments focus was not so much on loan amounts or property types but loan status and cash flow predictability. As we have noted both in our training and previous CommercialLeads.net emails there is a trillion dollars worth of commercial loans coming due this year. Six percent are delinquent at present. As the year progresses the delinquency number will increase.
These Federal Guidelines are designed to target the problem now and resolve as many of those loans as soon as possible before the other 94% reach maturity and inevitably default. In the CommercialLeads.net Commercial Loan Mod Program we provide the training and support to help you get the cases packaged properly.
Between the IRS Rule Change (Proc 2009-45), TALF Extension to October of this year and this new policy statement the stage is completely set for restructuring maturing, delinquent and even commercial loans in the foreclosure process over the next 24 months.
The distressed asset and modification side of the business is expanding with lots of opportunities for those who have been sitting on the sideline. Realtors can make money bringing distressed commercial property to investors while attorneys, mortgage brokers and those in the financial segments of the industry can focus on commercial loan workouts / modifications.
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