Interest Rate Uncertainty Isn't Stopping Deals
Early 2015 might be remembered as the pre-interest rate rise period. But the uncertainty is not deterring solid deals, Intercredit Bank president/CEO Simon Cruz tells us. "Everyone expects rates to go up but no one knows when," he says. Intercredit is expanding into multifamily lending. "As rates rise, there might be a little less need for financing, but as a community bank we must serve that need." Intercredit Bank recently returned to profitability after a difficult period, and Simon says the bank likes the multifamily sector because there's strong demand and when properly underwritten, it's a "great asset to have on the books."