Commercial real estate exposure was the main driver behind problem loans for the seven banks that failed in January, according to new data from Trepp LLC.
Commercial real estate loans comprised $363.5 million (74.5%) of the total $487.7 million in nonperforming loans at the failed banks. Commercial mortgages made up $24.6 million (51.9%) of the total, while construction and land loans comprised $14.9 million (31.5%) of the total nonperforming pool.
Read more...MortgageOrb: Content / Commercial Mortgage / Trepp: Commercial Real Estate Exposure Fueled January's Bank Failures
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