On February 1, Congressmen Paul E. Kanjorski (D-Pa.) and Ken Calvert (R-Calif.), along with 77 other bipartisan House members, sent a letter to Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernake suggesting they take further steps to ensure the health of the commercial real estate (CRE) market.

The letter urges the regulators to help stabilize the CRE market before it further effects the general economic recovery.  The lawmakers outline the following three action steps in their letter: 1. Create a clear method for evaluating the effectiveness of CRE loan modification guidance; 2. Institute a system to differentiate performing vs. non-performing loans, and any other steps needed to provide lending institutions with more confidence in assessing CRE loans; and 3. Make clear public statements encouraging lenders to continue to make credit available for performing assets as a means of restoring confidence and long-term value in the CRE market.

For more information, and to read the entire letter, please click here.