The Deutsche Bank AG data show that monthly losses on commercial property debt converted to bonds have doubled since April as loan experts quit on trying to restructure smaller mortgages. Last August 2009, a $41 million average loss on loans was recorded and a $245 million in April of this year. Last August, the amount has leaped to $501 million.
Payment Delinquencies For New York Loans Go Up
A 90% increase in loan delinquencies in New York in the past year, 4 of them were on residential properties. As of August this year, nearly 7% of commercial real estate loans were past due for more than 60 days. This rate is ten times more than at about the same period last year.
Bank Of America Awards A $12.5 Million Loan To Lapolla Industries Inc.
The Bank of America recently approved an asset based loan worth $12.5 million to Lapolla Industries, a major supplier and manufacturer of insulation foam, coatings and equipment in Houston, Texas. The particular loan will be utilized to refinance existing debts and add working capital for business expansion.
US Economy As Main Focus For Obama
After one week of settling peace talks in the Middle East and the decision to bring troops back home from Iraq, the president and the White House are now gearing for a new priority this week which is the US economy.
Worldwide Trade Deficit Threatens Economic Sustainability, China Dominating World Export Market
The present health of the global economic climate does not seem to be very positive. The economy of the US is specifically in recuperation mode but still continues to be weak especially when trade statistics revealed that there is an increase in imports but a reduction in the number of exports.
