Every now and then, Centennial Lending LLC will spot a gem butlately, the business and mortgage lending CUSO has had to turn downmany shoddy loans previously serviced by banks.
Mark Bostock, president of the Denver-based CUSO, said with therecent shutdown of New Frontier Bank in Colorado, there's been anincrease in loans coming in. Local banks are capped out leaving aglut of development loans around. Centennial serves 123 CUs inColorado, Nebraska and Wyoming.
"It's a scramble out there," said Bostock, who will speak onlending trends at a NACUSO annual conference session today. "Banksjust don't have the capital. Every once in a while, you'll get agem in the rough. But, I can see why some of the banks got intotrouble. The loans were not great."
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