The locally based company has $36.5 million in additional closing commitments and another $57.65 million of production under application. Still, the lending community isn't welcoming all borrowers these days, Findura acknowledges.
"Are lenders red-lining certain project categories? Most definitely," the broker tells GlobeSt.com. "We are seeing lenders who are reading the negative publicity about certain markets and reacting by reducing loan proceeds, utilizing more stringent underwriting criteria, or in certain cases, opting not to lend on a certain product type in a particular market."
Understandably, Findura points out, "Lenders with high concentrations of loans in markets receiving the most negative publicity are the least likely to lend again in that market."
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