Banks have continued making loan modifications for the third quarter, according to a Moody’s Ratings report. The median percentage of CRE loans to non-owner occupied (NOO) borrowers — measured in numbers of loans granted rather than as percentages of total dollar amounts — rose 65 basis points of total NOO CRE loans for the last nine months.
The Federal Reserve’s rate cuts so far offered “little opportunity for refinancing at reduced rates,” so extensions would seem likely part of the ongoing attempt to keep loans from sliding into delinquency and banks from having to write them down, Moody's said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
