Commercial Loans - Do banks like to foreclose on good CRE?
In general, what is the main reason for a commercial bank to keep up so much scrutiny on commercial loans? Is it mainly to pre-emptively take foreclosure action if a borrower is having financial problems? Or is it merely to find info so they can solicit us?
The reason I'm asking is that we are repeatedly asked for updated financial info and docs by our commercial lender. I don't like providing this , as it feels like they're doing full underwriting on a well performing property with low debt to equity...extremely low. I've already sent them property docs as the property doing fine.
I'm just speaking generally, but do banks often try to just foreclose on sound commercial properties? Or is it just that they want to get our info to solicit us with other lending products?
A week or so after I got all this scrutiny our commercial bank starts calling me and soliciting me to refinance other loans on other investment properties that they just requested from us. Basically claiming that they could beat other rates etc... freaking annoying
I'm just tired of sending them stuff and want to see how much I can "push the bank back" without them starting a foreclosure on a ridiculously well-performing property.