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Lenders Red-lining Certain Projects

ORLANDO-Market leaders in office, retail and multifamily get favorable treatment while industrial projects have to beg a little more, Mark L. Findura, president of locally based R.J. Twitty & Co. II, tells GlobeSt.com. Loan interest rates aren't falling below 6.75%.

By Alex Finkelstein | Updated on July 09, 2001

ORLANDO-Are lenders red-lining certain project categories these days?

“Most definitely,” Mark L. Findura, president of locally based R.J. Twitty & Co. II, a mortgage banking and brokerage firm, 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 to lend on a certain product type in a particular market.”

Strong words from the head of a firm that has closed $60 million in deals in the past 45 days, running its 20-month total to $360 million in closed loans, sales and equity transactions.

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