WASHINGTON, D.C. – April 17, 2013 – (RealEstateRama) — Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012 according to the Mortgage Bankers Association’s (MBA) 2012 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
Loans originated for Fannie Mae, Freddie Mac and FHA in 2012 collectively totaled $77.6 billion, and represented the leading investor group. Commercial bank and savings institutions saw the second highest volume, $56.9 billion and were followed by life insurance companies and pension funds; CMBS issuers; REITS, mortgage REITs and investment funds; and credit companies and specialty finance firms.
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In terms of property types, multifamily properties saw the highest origination volume, $103.2 billion, followed by retail properties, office buildings, industrial, hotel/motel and health care. First liens accounted for 98 percent of the total dollar volume closed.
Driven in part by greater coverage, the reported dollar volume of commercial and multifamily mortgages closed in 2012 was 33 percent higher than the 2011 volume. Among repeat participants in the survey, the dollar volume of closed loans rose by 15 percent.
“The commercial and multifamily mortgage market saw solid growth during 2012,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “The multifamily market continued to be a major driver of activity, and nearly every investor group increased their activity from the year before. With a continuation of low interest rates and improving property markets, originations are on track for continued growth this year.”
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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mortgagebankers.org.