A drop in home mortgage rates, a pause (or even cut) by the Federal Reserve at its March 22 meeting, and the need to obtain new letters of credit are among the matters to ponder as commercial real estate companies and venture-capital groups sort through the fallout of the collapse of Silicon Valley Bank and Signature Bank.
SVB has approximately $2.6 billion of CRE private bank loans on its books, according to its latest 10-K filing with the Securities and Exchange Commission.
At the end of 2022, Signature had by far the larger portfolio at $35.7 billion, according its 2022 annual report, including multifamily, commercial property, acquisition, development, and construction, and home equity lines of credit.
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