Multifamily and commercial property default rate falls to 1.94 percent as banks ramp up property and construction lending.
Even as underwriting holds to in-place cash flow, historically low-cost financing and the competitive overlap between agency and non-agency lenders are driving exit risks for new loans. These risks are largely mispriced by conventional credit risk models.
Based on Chandan Economics' database of new multifamily and commercial real estate loans, originated across balance sheet, agency, and conduit lenders.
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February 2014 — Calkain-Chandan 2014 Net Lease Economic Outlook Report available now from Calkain Companies
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