Before the COVID-19 pandemic started, loans were made almost solely related to the quality of the property – its income and location. Today, lenders look at the quality of the experience, net worth in liquidity, and financial strength of the team that’s putting together the syndication. Even banks started raising their debt service coverage ratios. They have also stopped doing cash-out refinances. 

In this episode, Terry Painter, who is the author of the Encyclopedia of Commercial Real Estate Advice, and the founder of Apartment Loan Store Mortgage banking firm gives his perspective about where we’re at from lender underwriting standards. Does he see something like the 2008 recession happening again? What is the biggest problem in lending that they’ve encountered this season? Listen now!