In the pre-crisis construction boom, circa the first quarter of 2008, banks held $631 billion in construction loans; in the fourth quarter of 2018 that number was $349 billion; this is up from a low of around $200 billion in the fourth quarter of 2012; helping this recovery are fintech providers who are bringing more data into lending decisions and structuring this data for the first time; Built Technologies, BankLabs and Fiserv have all developed a suite of software tool for construction lending with a number of banks using these tools to originate more. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.