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Understandably, we are fielding inquiries from our partners and customers wondering when we will begin to close and fund rental and small balance commercial loans. Considerable uncertainties remain. Here are a few of the items we are watching closely that we believe we need greater clarity before loan funding can commence:
Is there a scenario where loan fundings could commence relatively soon? Yes, and it likely will involve a breakthrough in a highly scalable therapeutic treatment for COVID-19. This could take a variety of forms: a therapeutic drug regimen; a series of improved treatment protocols; or a preventative (such as the hydroxychloroquine and chloroquine preventative in trial in NY).
We will continue to keep you posted on the improving or changing outlook for these items and others impacting the availability of financing for single-family rental and small balance commercial properties.