1Q commercial/multifamily originations up 9 percent.

Author:Robinson, Matt
Position:Commercial
 
FREE 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...

To continue reading

FREE SIGN UP