Magazine article Mortgage Banking

MBA: 2011 Q4 Commercial/multifamily Mortgage Originations Up 13 Percent from Q3; Up 64 Percent from 2010

Magazine article Mortgage Banking

MBA: 2011 Q4 Commercial/multifamily Mortgage Originations Up 13 Percent from Q3; Up 64 Percent from 2010

Article excerpt

Commercial/multifamily originations during fourth-quarter 2011 rose by 13 percent from a year ago but fell by 7 percent from the third quarter, according to the Mortgage Bankers Association. The MBA Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, released at the association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo in Atlanta in February, said the fourth-quarter increase was driven by growth in industrial and multifamily lending.

"MBA's Commercial/Multifamily Mortgage Bankers Origination Index hit record levels for life insurance com panies in the second and third quarters of 201 1," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "In the fourth quarter, multifamily originations for Fannie Mae and Freddie Mac hit an all-time high. While the commercial mortgage backed securities market continued to be held back by broader capital markets uncertainty during the past year, others--such as the GSEs [government-sponsored enterprises], life companies and many bank portfolios--increased their appetite for commercial and multifamily loans."

The 13 percent overall increase in commercial/multi-family lending activity from the fourth quarter of 2010 was driven by increases in originations for industrial and multifamily property types. The increase included a 43 percent increase in loans for industrial properties; a 31 percent increase in loans for multifamily proper ties; an 8 percent decrease in loans for retail properties; a 24 percent decrease in loans for health-care properties; a 29 percent decrease in office property loans; and a 44 percent decrease in hotel property loans. …

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