LOS ANGELES—“Banks are back lending and are doing it with appropriate credit discipline,” says Jason Pendergist, SVP and chief lending officer at Luther Burbank Savings. Pendergist shared his market knowledge during an interview for his feature on Real Estate Forum's “Fifty Under 40” list.

“I believe that the lessons learned in the last cycle were strong enough to keep irrational exuberance at bay,” explains Pendergist about the current lending trends. “Given the increasingly challenging regulatory environment, I see an opportunity for private equity and hedge funds to enter the balance sheet lending space by creating a more customer-friendly process. I can envision the mortgage markets moving that direction and taking meaningful share away from traditional banks.”

Pendergist certainly knows about capital markets trends. He manages a loan portfolio with a combined value of $8 billion in the New York region. He built the company's east coast office from 25 people to 125, growing originations from $500 million to more than $2 billion per year. In his storied 12-year career, he has generated more than $30 billion in originations. He has a special expertise in multifamily lending as well as market analysis, credit and underwriting.

Pendergist often lends his market expertise to commercial real estate conferences. Recently, he spoke at the RealShare Bay Area conference about the San Francisco renter pool, explaining that the region has something special to offer to the young workforce. “There will be a constant pressure for infill rental units, which will push the rents up,” he said on the panel.