could default if the US faces a full-blown recession, Bank of America strategists warned, though the bank no longer sees a recession as likely in 2023.People and companies are increasingly falling behind on their loan payments.
reversing a preexisting downward trend. This is reflected in the rising rate of delinquencies on loans securing commercial mortgage bonds, which have been on the rise this year. Mortgage Bankers Association Banks are already trying to dump loans that have a greater risk of default, even if it means selling those assets at a discount. JPMorgan, Goldman Sachs, and Capital One are among those on Wall Street who are trying toBanks are also pulling back on debt-dealing altogether as financial conditions tighten. That spells, as there's around $1.5 trillion of CRE debt that's set to reach maturity in the coming years, and will need to be refinanced.