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Giving builders something to smile about
Home builders in Puerto Rico finally have something going their way when it comes to obtaining credit. After nearly two years of seeing their loan options shrink - with bank after bank tightening their credit to the industry or getting out of construction lending altogether - there is now one lender that is actually getting into the fray.
"We had been looking for niches in the market and saw an opportunity in filling that avoid," said Zoila Levis, president of H.F. Mortgage Bankers, which began lending to new residential developments earlier this year. "The response had been highly encouraging. We've surpassed our …