Industry NewsMortgage

Lender infighting on the rise

From TheRealDeal.com
Published on Oct 5, 2009

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by CareyBot

NEW YORK -- As the real estate industry scrambles to unwind billions of dollars in distressed inventory, a number of high-profile deals are stuck in neutral as lenders battle it out with each other to see who will get paid and who will be left holding the (empty) bag.

While creditors often turn on each other during a workout, the massive number of securitized loans with multiple lenders and third-party servicing firms managing the funds is creating a level of complexity that may take years to sort out, analysts said.

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