The combination of rising interest rates and increased competition from nonbank lenders is prompting many commercial real estate investors to seek better deals elsewhere.
The explosion in construction of self-storage facilities is being backed by banks hungry for commercial loans. Some market participants fear a glut is in the making and the credits could sour.
The removal of costly appraisal requirements on tens of thousands of smaller commercial properties could help community banks better compete for loans they say they have been losing to nonbank lenders.
Leader Bank says it can land property managers as commercial clients by helping them handle tenant deposits — and possibly create opportunities to boost CRE lending.
The group says Mulvaney, who also runs OMB, was not totally forthcoming with the Senate Budget Committee about the foreclosure of a property he owns in South Carolina.
