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Regional banks are trying to unload commercial real estate loans as a new banking crisis is unfolding. Regional banks are attempting to minimize their risks as another crisis seems to be unraveling right now.
After the collapse of banks like Silicon Valley Bank and Signature Bank , many regional banks are trying to sell off their commercial real estate (CRE) loans, even if they have to do it at a loss, in hopes of avoiding a similar fate.
Wells Fargo is one such bank. It announced it would be downsizing its CRE portfolio and taking losses, while PacWest sold $2.6 billion in construction loans at a loss last month. Citizens Bank has put $1.8 billion worth of CRE loans for sale in recent months, while Customers Bancorp has placed $16 million of its current CRE portfolio for sale.
The stress seen in the commercial real estate sector right now is weighing heavily […]
Excerpt Sourced From: ourgoldguy.com
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