Magazine article Mortgage Banking

Commercial Lending Slows in Q1. (Commercial)

Magazine article Mortgage Banking

Commercial Lending Slows in Q1. (Commercial)

Article excerpt

ACCORDING TO THE QUARTERLY COMMERCIAL Mortgage Origination survey conducted by the Mortgage Bankers Association of America (MBA), new commitments for new commercial mortgages fell back during the first quarter of 2002. This data, along with data from the fourth quarter of 2001, suggests that commercial lending has retreated somewhat from the unusually strong pace seen during the first three quarters of last year. The total reported commitments during first-quarter 2002 were $12.4 billion. The decline from the $22.5 billion figure in fourth-quarter 2001 in part reflected a normal seasonal adjustment, as the first quarter has traditionally been the weakest quarter for new originations. Moreover, the level of new lending activity during the first quarter of 2002 was off by 16 percent from the robust pace during the same period a year earlier.

The decline in new lending volume was primarily due to a sharp decline in loan size; the average reported loan amount fell from $8.9 million in the first quarter of 2001 to $7. …

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