While the capital markets are moving again, loan activity has been significantly impacted by the pandemic. Commercial loan originations will likely fall by 40% this year compared to 2019 activity.

"Though the capital markets have certainly been disrupted by the COIVD-19 pandemic, there remains healthy activity and allocations from all major lending sources, albeit with lowered expectations for volume and a more conservative appetite for leverage and asset class," J.D. Blashaw, VP at MetroGroup Realty Finance, tells GlobeSt.com. "According to the Mortgage Bankers Association, commercial and multifamily loan volumes are expected to decrease by 40% in 2020 compared to 2019 when originations topped $600 billion, a peak since the last global financial crisis."

Now, lenders are focused on managing delinquencies and mitigating defaults of current loans. Multifamily, office and industrial loans are performing well and staying current. Blashaw says: According to the Mortgage Bankers Association, as of June 20th, loans that were current across asset classes were as follows: