I took down my website this week and replaced it with a one-page announcement that the site isn't coming back up until the credit markets revive.
With plenty of business, most of us commercial mortgage brokers cannot get funding on any property type, of any credit quality, from any institution calling themselves a lender.
Its just plain dead out there.
CMBS is long-gone. Big Bank and Regional Banks are completely out of the market. Community Banks now are saying "doesn't meet our credit policy at this time." Hard-money is no longer hard, but going after prime deals that can't get money elsewhere.
Its time to sit on the sidelines for a while.
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