CHICAGO, IL--The general slowdown in the number of loan origination requests processed by Cambridge Realty Capital Companies continued into November, but dollar volume for requests reviewed by the company were up appreciably, Chairman Jeffrey A. Davis (top right photo) reports. Davis said the company processed 22 loan origination requests totaling $347.3 million in November. This compares with 24 requests totaling $294.9 million for the same month last year.
Over the past 12 months, Cambridge has processed 341 loans totaling $4.9 billion. In contrast, the company received 366 loan requests totaling $4.5 billion for the same 12-month period in 2007.
Davis points
out that lenders close a relatively small percentage of the loan origination requests received, but believes its useful to track this information as an indication of market directions. “There doesn’t appear to be a lot of evidence that borrowers are losing heart despite the severity of the current credit crunch,” he said.
Contact: Evan Washington, Phone: (312) 521-7603. Fax: (312) 357-1611 E-Mail: ew@cambridgecap.com
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