Banks tighten the screws on Commercial Real Estate loans in Q3
Banks tightened standards on commercial real estate loans during the third quarter but left lending practices for commercial and industrial loans virtually unchanged overall.
This is according to a survey of loan officers released on Monday by the U.S Federal Reserve.
For U.S. households, some banks reported easing lending standards on mortgages eligible for purchase by government-sponsored enterprises and some other types of mortgages.
However, consumer loans remained much like the previous quarter.
On Commercial Real Estate, "significant net fractions of banks reported tightening standards for construction and land development loans and loans secured by multifamily residential properties," the survey said.
The Fed survey covered the third quarter of 2016, and included the responses of 69 domestic banks and 21 U.S. branches and agencies of foreign banks.
Nedbank Corporate Property Finance has provided funding for 345 000m² of prime industrial land in the Pomona business node alongside the R21 highway in Johannesburg on behalf of The JT Ross Group. ... Full story