Regulators say lenders expected to lose $53 billion in 2009 on loans larger than $20 millionSeptember 25th, 2009 US large-loan bank losses triple to $53 billionCHARLOTTE, N.C. — U.S. regulators said total losses from large loans at banks and other financial institutions nearly tripled to $53 billion in 2009, due to a deteriorating economic environment and continued weak underwriting standards.
Colony Financial prices IPO of 12.5 million shares of common stock at $20 per shareSeptember 24th, 2009 Colony Financial prices initial public offeringLOS ANGELES — Colony Financial Inc. said it priced an initial public offering of 12.5 million shares of its common stock at $20 per share.
Fed examiners stepping up oversight of commercial real estate loans at smaller banksSeptember 16th, 2009 Fed tightens review of commercial real estate riskWASHINGTON — The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, where delinquency rates have risen sharply. Instead of reviewing individual banks, Fed examiners are comparing results across the industry to better assess broader risks, a Fed official said Wednesday.
Fed examiners stepping up oversight of commercial real-estate loans at smaller banksSeptember 16th, 2009 Fed tightens review of commercial real-estate riskWASHINGTON — The Federal Reserve is stepping up its scrutiny of commercial real-estate lending at smaller banks, according to a Fed official. Instead of reviewing only individual banks, Fed examiners also are comparing results across the industry to better assess broader risks, the official says.
IRS issues rules making it easier to refinance some commercial real estate mortgagesSeptember 15th, 2009 IRS issues rules to ease mortgage refinancingWASHINGTON — The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors.
Federal Reserve imposes restrictions on banks in Nebraska and Missouri and their ownerSeptember 3rd, 2009 Federal Reserve imposes restrictions on 2 banksOMAHA, Neb. — The Federal Reserve has imposed restrictions on two correspondent banks in Nebraska and Missouri owned by Midwest Independent Bancshares Inc.
Fitch: Banks face more difficult credit trends amid exposure to commercial real estate lossesAugust 21st, 2009 Fitch: Banks face more difficult credit trendsNEW YORK — Fitch Ratings analysts said Friday they expect U.S. banking companies to continue to face rising credit costs and a difficult operating environment in the coming months.
Regions cut to Hold from Buy, analyst cites share price surge, commercial real estate concernsAugust 20th, 2009 Ahead of the Bell: Regions FinancialNEW YORK — Regions Financial Corp. was downgraded Wednesday by an analyst because a recent surge in its share price brought it in line with expectations, and the regional bank could still face steep losses from commercial real estate exposure.
Commercial real estate market woes seen as drag on US economic recoveryAugust 12th, 2009 Recession and debt drag on commercial real estateLOS ANGELES — Even as the housing market starts to show signs of recovery, fortunes for commercial real estate are looking increasingly grim — and that could spell trouble for the fragile U.S. banking sector.
Investors request $668.9 million in program aimed at spurring commercial real estate lendingJuly 16th, 2009 Commercial real estate lending program picks upWASHINGTON — Investors' appetite picked up this month for a government program aimed at spurring lending in the troubled commercial real estate market. The program is part of larger consumer lending effort called the Term-Asset Backed Securities Loan Facility, or TALF, which figures prominently in efforts by the Fed and the Obama administration to ease credit, stabilize the financial system and help the economy.
Experts, lawmakers warn of mushrooming crisis in commercial real estateJuly 9th, 2009 Commercial real estate woes growWASHINGTON — Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday. "The commercial real estate time bomb is ticking," said Rep.
Investors show no appetite for Fed program to bolster commercial real estate loansJune 17th, 2009 Commercial real estate loans draw no interestWASHINGTON — Investors showed no appetite for commercial real estate loans in the debut of a government plan intended to boost their availability. The Federal Reserve Bank of New York said it received no investor requests for loans by Tuesday's deadline.
Investors show no appetite for Fed program to bolster commercial real-estate loansJune 16th, 2009 Commercial real-estate loans draw no interestWASHINGTON — Investors showed no appetite for a government plan intended to boost the availability of commercial real-estate loans. The Federal Reserve Bank of New York says it received no investor requests for loans by Tuesday's deadline.
AP Sources: Fed mulls longer loans in TALF program aimed at bolstering commercial real estateMay 1st, 2009 AP sources: Fed mulls longer loans as part of TALFWASHINGTON — The Federal Reserve is considering allowing longer loan terms in a program aimed at bolstering commercial real-estate lending, according to people with knowledge of the matter. The aim is to make the yet-to-be-launched program more attractive to investors.
TALF program to bolster commercial real-estate lending launches in JuneMay 1st, 2009 New TALF program launches in JuneWASHINGTON — The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans.
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