Regulators give banks commercial mortgage modification guidelines
The major bank regulators have joined together to give banks new rules aimed at encouraging lenders to consider restructuring problem commercial mortgages instead of just foreclosing on them. The rules provide guidance to bank examiners and the banks themselves on how to work with commercial property owners who are "experiencing diminished operating cash flows, depreciated collateral values, or prolonged delays in selling or renting commercial properties." Lenders and borrowers often are best served by restructuring the debt, the guidelines said.
Wall Street Journal, The | 10/31
This story published in Real Estate Investment SmartBrief on 11/02/2009
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