Cambridge Realty Capital Reports Processing 75 Loan Origination Requests Totaling $1.04B in 1st Quarter

CHICAGO, IL--Although the capital markets are hardly running on all cylinders, Cambridge Realty Capital Companies reports receiving 75 loan origination requests totaling $1.04 billion during the first quarter of 2010.

“That’s roughly the same number of loan requests we processed during the same quarter last year, but dollar volume for the period was down 14 percent from $1.19 billion in 2009,” said Chairman Jeffrey A. Davis (top right photo).

In March, Cambridge processed 25 loan requests totaling $282.9 million, compared with 23 loans totaling $442.4 million for the same month last year.

Davis points out that lenders close a relatively small percentage of loan requests received. But he thinks it’s useful to track this information as an indication of market direction.

“What the data is telling us is that loan origination requests are on pace with last year. However, on average, we’re looking at smaller transactions in 2010,” he noted.

Davis says this is further confirmed by a year-over-year comparison of the total number of beds/units included in the requests received. In 2010, the beds/units total for the quarter was 8,407, compared to 13,349 in 2009.

Davis says Cambridge has been privately owned since its founding in 1983 as a real estate investment banker specializing in commercial real estate properties. The company today has three distinctive business units: FHA-insured HUD loans, conventional financing, and investments and acquisitions.

Contact:  Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap