Magazine article Mortgage Banking

1Q Commercial/multifamily Originations Up 9 Percent

Magazine article Mortgage Banking

1Q Commercial/multifamily Originations Up 9 Percent

Article excerpt

First-quarter 2013 commercial and multifamily mortgage loan originations improved by 9 percent from a year ago but were 36 percent lower than the fourth quarter, the Mortgage Bankers Association (MBA) reported in its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

"The overall number masks larger increases in the dollar volume of loans originated for commercial mortgage-backed securities [CMBS] and Fannie Mae and Freddie Mac, and a decline in the amount originated for life insurance company portfolios," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

The report said the 9 percent overall increase in commercial/multifamily lending volume, when compared with a year ago, was driven by increases in originations for hotel and multifamily properties. The increase included a 35 percent increase in dollar volume of loans for hotel properties, a 30 percent increase for multifamily properties, a 2 percent increase for industrial properties, a 6 percent decrease for office properties, a 15 percent decrease in health-care loans and a 25 percent decrease in retail property loans.

Among investor types, the dollar volume of loans originated for conduits for CMBS increased by 170 percent from last year's first quarter. …

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