Commercial lending

Developer Parkway Corp. has closed on $187 million in funding through commercial real estate finance firm Meridian Capital Group to build a Center City Philadelphia office tower for law partnership Morgan, Lewis & Bockius.

A new Marriott Residence Inn is expected to sprout next to the Millbrae BART station after landing a construction loan that serves as a welcome counterpoint to the pall of economic uncertainty cast by the coronavirus.

So far, only Tulsa County has opted in, but the Indian Nation Council of Governments is working with officials across the state to get other counties on board.

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

An Idaho court has ruled against a Treasure Valley resident for his role in a Ponzi scheme that bilked millions from real estate investors.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

As revenue-starved retailers fall further behind on rent payments, landlords' cash flow will be strained, and defaults on commercial real estate loans could rise.

As brick-and-mortar shopping centers steadily lost market share to online competitors, the family behind three of the four biggest malls in North America built a thriving business by infusing their properties with heavy doses of entertainment.

Kalahari Resorts defaulted on a $347 million mortgage originated by JPMorgan Chase

Cited the current capital markets and economic environment as the reasons for pulling out of the transaction.

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.

Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.

More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month.

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.

The Cincinnati company will hire about 950 workers to meet heightened demand for loan deferrals and other forms of relief clients are seeking to weather the economic fallout of the coronavirus outbreak.