Originations for CMBS Show Biggest DropWASHINGTON, DC (June 3, 2008) - Commercial and multifamily mortgage bankers' loan originations fell on a year-over-year basis in the first quarter, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
First quarter originations were fifty-three percent lower than during the same period last year. The year-over-year decrease was seen across all property types and most investor groups.
"Three trends jump out from this quarter's figures: the impact of the credit crunch, a return from the extraordinary record origination volumes of 2005, 2006 and 2007 and strong variation between different investor groups," said Jamie Woodwell, (top right photo) MBA's Senior Director of Commercial/Multifamily Research.
"Three trends jump out from this quarter's figures: the impact of the credit crunch, a return from the extraordinary record origination volumes of 2005, 2006 and 2007 and strong variation between different investor groups," said Jamie Woodwell, (top right photo) MBA's Senior Director of Commercial/Multifamily Research.
"First quarter originations for the CMBS market were at their lowest since the survey began in 2001, originations for life companies and for banks and thrifts fell to levels last seen in 2004, and originations for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac hit record highs for a first-quarter."
(For a complete copy of MBA's news release, please contact Jason Vasquez (202) 557-2950, jvasquez@mortgagebankers.org
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