News

Commercial Lending Bounces Back In 2010[costar]

Powered by improving conditions in the real estate and capital markets, CRE loan originations rose by 36% in 2010 over the previous year, according to preliminary data released at this week's Mortgage Bankers Association (MBA) real estate finance convention in San Diego. In a separate report, the MBA also found that loan maturities continue to roll at a manageable level, with just 11% of the $1.4 trillion in outstanding commercial debt expected to mature this year, shrinking to 9% in 2012.

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Bank Watch: First Credit Union Closure of 2011 Among Latest Financial Institution Failures [costar]

Four more financial institutions joined the list of failures this past week including two in Georgia and one each in California and Illinois.

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Secret to Bank’s Comeback: A Rich Uncle Named Sam [wall street journal]

By ROBIN SIDEL

MIAMI LAKES, Fla.—Before BankUnited FSB collapsed in May 2009, employees lit candles and prayed that Florida's biggest bank would survive the bad loans it made before the housing bubble burst.

The miracle came in the form of Uncle Sam, or more precisely, the Federal Deposit Insurance Corp., which sold the failed BankUnited to a group of Wall Street financiers led by a longtime New York banker. The FDIC agreed to reimburse as much as $10.5 billion in future loan losses—and gave the new owners $2.2 billion in cash. The buyers paid $945 million.

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Commercial real estate expected to rebound in ‘11 [www.vcstar.com]

Local commercial real estate officials say they are becoming increasingly optimistic about the economic climate in Ventura County.

Much of 2010 was similar to 2009 — a lack of sales — but a strange thing happened at year’s end, said Mark Perry, vice president of investment for commercial real estate firm CB Richard Ellis.

“In the last couple of months of the year, it got a whole lot better,” he said Friday at the Los Angeles-based firm’s 2011 Ventura County Commercial Real Estate Symposium in Westlake Village. Perry said he believes Ventura County is going to rebound quickly

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