CRE Risk and Governance

Insights on commercial real estate credit risk, portfolio governance, concentration management, underwriting discipline, and institutional decision-making.

Executive commercial real estate finance workspace showing underwriting documents, architectural plans, and a capital stack diagram representing senior debt, subordinate debt, equity, refinancing risk, and lender credit analysis.

Inside the Capital Stack: Why Senior Lenders Care About Every Layer of Capital

CRE Credit & Underwriting, CRE Risk and Governance

A first mortgage may have repayment priority, but the senior lender’s risk does not stop there. This article explains how subordinate debt, preferred equity, common equity, global DSCR, control rights, and refinance pressure can change the risk of an entire commercial real estate transaction.

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What the Bank of New England Failure Taught Me About CRE Risk

CRE Risk and Governance

A first-person account of how rapid growth, weak controls, hidden credit deterioration, and delayed risk recognition contributed to the failure of the Bank of New England—and the CRE risk disciplines that still matter today.

What the Bank of New England Failure Taught Me About CRE Risk Read More »

CRE Risk and Governance

Inside the Capital Stack: Why Senior Lenders Care About Every Layer of Capital

What the Bank of New England Failure Taught Me About CRE Risk

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