The Intersection Between Bank Credit and Buildings

Signature bank, which just failed and was acquired by New York Community Bank, didn't take their CRE loan book at all. In about $11.9 billion of loans, which are now stuck with the FDIC, a large majority of them are loans on multifamily housing in New York City. According to the Federal Reserve's latest senior loan officer survey, banks were already tightening commercial underwriting at levels last seen in 2009 recession.