Preferred Bank's experience with an apartment developer is a reminder of how important strict underwriting terms will be as loan demand increases, rates rise and lenders try to outdo each other.
The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.
Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.
