Overview
Two lenders quoting the same all-in rate are not equivalent. Pull-through, retrade history, and credit-committee predictability vary widely across the lender universe. On time-sensitive closings, execution risk can be worth 25 bps of spread. This hub aggregates the execution-risk pillar, lender scorecard, sibling Q&As, and glossary.
Why this matters
Picking the wrong lender on a bake-off doesn't just cost weeks at the close; it can cost the deal. A lender that retrades on spread, withdraws on a MAC, or misses credit committee on a hard close date can break a 1031 exchange or push past a maturity date.
Execution risk is asymmetric. The downside (deal blown) is much larger than the upside (10 bps tighter pricing).
How to use this hub
Read the pillar for the framework on lender selection beyond price. Use the execution scorecard alongside the pricing comparison. Drop into the Q&A library for specific risk patterns. Reach the glossary for terminology.
Pillar guide
Sponsor-side tool
Sibling Q&As
What causes a CRE lender retrade between term sheet and closing?
The most common retrade triggers, appraisal coming in low, environmental Phase II, PCA deferred maintenance, operating-result miss, and market-condition shift.
How should a sponsor rank CRE lenders by certainty of close?
Approximate certainty-of-close ranking: agency multifamily and balance-sheet life co (highest, 85% to 95% close rate from term sheet); bank perm in normal credit conditions (80% to 90%); debt funds (70% to 85%, depending on platform stability); CMBS in normal capital-markets conditions (75% to 90%).
What is the soft commitment trap on a CRE loan and how do sponsors avoid it?
A soft commitment is a verbal or written indication that the lender intends to close on terms substantially per the term sheet, but without binding language.
What happens if a bank hits its CRE concentration limit mid-deal?
When a bank hits its CRE concentration limit mid-deal, the loan can be repriced, restructured, partially funded, or canceled.
Glossary
How we compare financing proposals from multiple lenders
How a CRE debt advisor coordinates lender outreach, compares financing proposals, and negotiates terms. Timing and results vary by transaction.
Find the right type of lender for your property
An overview of the lender categories that may finance commercial real estate: banks, life companies, agencies, debt funds, CMBS, and HUD-specialty lenders.
Tell us about the property and the financing you need
Send a commercial real estate financing request. Marshall Masterson replies within a timeframe agreed after reviewing the request with proceeds, structure and lender fit. Confidential.