Lessons from Silicon Valley Bank
The Memo by Howard Marks
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The Memo by Howard Marks
Notable defaults on office-building mortgages and other CRE loans are highly likely to occur. If loans were made at reasonable LTV ratios, there could be enough owners' equity beneath each mortgage to absorb losses before the bank's loans are jeopardized. No one knows whether banks will suffer losses on their commercial real estate loans or what the magnitude will be.
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