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Political Groundwork for Construction Loan Revival Starts

Construction lending was the root cause of scores of bank failures during the financial crisis and has slowed considerably since then, but that cautionary tale has not deterred banks from advocating for new rules that could revive the business. Further on April 26, a House bill had been introduced which would ease some of the regulations governing so-called high volatility commercial real estate loans labeled as high risk because of potentially inflated values on underlying property, loose underwriting terms, and other factors. As a result many loans would be exempted from costly capital rules.

Additionally the bill could help a wide range of banks  from regional's such as PNC Financial Services Group to community banks such as Global Bank, a Chinese-American lender in New York  to expand lending for the acquisition, development, and construction of real estate.

News Characteristics

Date : May 12, 2017
Region : North America
Industry : Mortgage Companies
Function : Regulation and Compliance
Sub-Function : Regulatory changes