Homeowners rush to refinance mortgages after interest rates fall below 5 percent againOctober 7th, 2009 Mortgage rates below 5 percent fuel re-fi boomEvery dollar counts in this economy. Homeowners hustled last week to refinance their mortgages after interest rates fell below 5 percent for the first time since May.
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.
Moody's report shows commercial real estate prices resumed steep declines in JulySeptember 21st, 2009 Moody's: Commercial real estate prices fallingNEW YORK — Prices for commercial real estate suffered steep declines in July and the volume of transactions remained low, according to a report issued Monday by Moody's Investors Service. The Moody's/REAL Commercial Property Price Indices (CPPI) was down 5.1 percent from June after slipping just 1 percent the previous month.
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.
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.
Meltdown 101: Commercial real estate market woes could spell trouble for banks and the economyJuly 22nd, 2009 Meltdown 101: Commercial real estate in distressThe residential housing market went into a tailspin over a burst housing bubble and a whole lot of bad mortgages. The commercial real estate market has suffered a different sort of one-two punch.
Nabard slashes refinance rates from WednesdayJuly 14th, 2009 KOLKATA - Agricultural credit lender National Bank for Agriculture and Rural Development (Nabard) cut refinance rates Tuesday with effect from Wednesday, a top official said here. "We are cutting the rates for both commercial banks and co-operative and regional rural banks by 50 basis points," said Nabard chairman Umesh Chandra Sarangi.
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.
Fed official says central bank stepping up focus on commercial real estate loansJuly 9th, 2009 Fed focused on commercial loansWASHINGTON — A Federal Reserve official says the central bank is paying extra attention to banks' books as losses from sour commercial real estate loans keep mounting. Jon D. Greenlee, associate director of the Fed's division of banking supervision, says in remarks prepared for a Congressional hearing Thursday that the central bank has stepped up training of its bank examiners so they are ready to deal with rising losses from the commercial real estate industry.
Trade group reduces 2009 estimate for mortgage volume by $750 billion to $2.03 trillionJune 22nd, 2009 Trade group cuts mortgage volume forecast for 2009NEW YORK — A key industry group on Monday slashed its estimate for mortgage volume by 27 percent because of higher interest rates and the slow start to the government's refinance program. The Mortgage Bankers Association said it expects lenders to make $2.03 trillion in mortgages this year.
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.
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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