Tuesday, March 22, 2011

Cambridge Processes 21 Loan Origination Requests in February Totaling $415.1 Million

CHICAGO, IL--Cambridge Realty Capital Companies reports processing 21 loan origination requests totaling $415.1 million during the month of February, or slightly fewer than the same month last year.

Cambridge is one of the nation’s leading senior housing/healthcare lenders, with more than $3 billion in closed transactions since the mid-1990s. Chairman Jeffrey A. Davis (top right photo) said the company’s February loan origination requests were down from 28 loans totaling $478.2 million for the same month in 2010.

Since the first of the year, processed loan origination requests are down about 20 percent and dollar volume for the same two-month period is down as well, from $852.1 million in 2010 to $733.3 million a year later, he said.

Davis points out that lenders close a relatively small percentage of origination requests received. But Cambridge routinely tracks this information as an indication of market direction.

“Credit market restrictions are impacting the types of loans we can reasonably consider at this time, and this is causing us to be more selective in the types of loans that are entered into our system. The lower comparative totals are a bit misleading for this reason.

“For popular FHA-insured HUD loans, the demand continues unabated,” he said.

Contact: Evan Washington, Phone: (312) 521-7604,
Fax: (312) 357-1611, E-Mail:  ew@cambridgecap.com

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