Printer Friendly

Loan requests tail off.

After a sharp rise in April, Cambridge Realty Capital Companies reports loan origination request volume trailed off in May, with 25% totaling $202,707.

"These numbers compare with 35 requests totaling $546.2 million for the same month last year and appear to represent a significant drop. However, in April, the company was reporting the highest level of monthly activity in two years," chairman Jeffrey A. Davis noted.

Through the first five months of the year the company processed 137 loan origination requests totaling $1.88 billion. "These totals are not far behind the 153 requests that totaled $1.91 billion during the same five-month period last year," he said.

Davis points out that lenders close a relatively small percentage of origination requests received. However, Cambridge tracks this information as an indication of changing market trends and directions.

"Given all the turmoil in the banking industry, it's understandable that borrowers might not be in such a euphoric mood. However, there appears to be a lot of interest in government funding programs and interim loans that bridge to more attractive, recession-proof FHA-insured government loans," he said.

COPYRIGHT 2009 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE
Publication:Real Estate Weekly
Article Type:Brief article
Date:Jul 15, 2009
Words:185
Previous Article:Gemini recaps Holiday Inn for $14m.
Next Article:Tenants, landlords looking to strike a balance.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |