Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

The Next Mortgage Crisis

From The Daily Beast comes a warning about CRE (Commercial Real Estate) mortgage defaults (here).  They report on a Wall Street Journal article (here - subscription required) on a speech Monday by NY Fed President Bill Dudley.

According to the Beast, reserves against bad CRE loans are less than 25% of what they were two years ago.  Dudley said, “More pain likely lies ahead for this sector and for those banks with heavy commercial real estate exposures.”