Transaction Volume Declined, But Creative Solutions Have Allowed Deals to Close During Pandemic

New England Real Estate Journal–Michael Chase, NorthMarq
The last 20 weeks have certainly presented unprecedented challenges, but also incredible responses in the face of many obstacles. Regulators for the banks, life insurance companies and multifamily housing acted quickly allowing lenders to work with borrowers on existing loans and provide guidelines for closing new loans. Transaction volume declined sharply during much of the second quarter, but creative solutions allowed deals to close even in the midst of the pandemic.