Financial Reform was the topic of the Luncheon that RERAlliance presented Tuesday August 31st. The well attended event offered some fresh faces and comments concerning the "Roadblocks to Commercial Real Estate Recovery".
Phil Lewis with RERAlliance led the discussion which included John Heasley with the Texas Bankers Association and Julie Cripe with OmniBank.
John Heasley
Julie Cripe
According to John; 95% of the mortgage loans in the past 3 to 4 years would never had been made if not for Fannie Mae and Freddie Mac. Julie says that Commercial Real Estate is out of favor in DC where housing is a "Sacred Cow" and small business is seen as an economy booster. So that leaves out CRE.
The still unanswered question that came from the audience was: "Publicly banks say they are lending but my loan officer says no".
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