What are private & hard equity lenders doing in your are

[Chris Zabaleta]

I am a loan officer with a hard equity lender in South Florida, and it seems that our guidelines are constantly changing. Our investors are nervous because of today's market. Their concern is, if we take a property back, we have to sell it low enough to compete with everybody else's REO.

I feel like we are in an environment where banks are actually self-destructing by driving property values down (dumping their stock).
They get into a vicious cycle of lowering property values because they are forced to keep lowering REO prices to move them.

I'm curious to know what people in other areas are hearing from their private and hard equity lenders...
- how have their guidelines changed in the past 6 months?
- what types of deals are they willing to do?