“This year will likely be a turning point in the lending industry as the economic recovery takes hold,” believes Gary Unkel, a loan originator for ValueXpress. “The early part of 2010 will be led by government-sponsored lending programs, such as Fannie Mae and HUD for multifamily and the SBA 7(a) and SBA 504 programs for owner-occupied commercial loans. Bank lending and CMBS conduit lending will lag, as the private sector will want to see commercial real estate loan delinquencies peak before increasing commercial lending in a meaningful way. By mid- to late 2010, the market will see increased bank and CMBS conduit lending,” anticipates Unkel.
