WASHINGTON, , DC (May 18, 2010) - First quarter 2010 commercial and multifamily mortgage loan originations were 12 percent higher than during the same period last year and 26 percent lower than during the fourth quarter of 2009, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
"The results of the survey showed changes in commercial and multifamily origination levels varied significantly between investor groups.
"However, it's hard to draw conclusions based on first quarter numbers given seasonal effects, such as the industry's usual push to finalize deals before the end of the year, resulting in lower first quarter origination activity," said Jamie Woodwell, (top right photo) MBA's Vice President of Commercial Real Estate Research.
"Based on surveys from the Federal Reserve Board and discussions with lenders, there appears to be increasing capital available for commercial mortgages, but only limited demand for new mortgages from commercial and multifamily property investors."
Among the key findings in the report are:
---New commercial and multifamily mortgages increased 12 percent from last year's levels.
---On an absolute level, volumes remain low, with significant variations between investor groups.
---Originations for CMBS conduits and life insurance companies increased dramatically on a percentage basis - coming off of very low bases.
---Originations for Fannie Mae and Freddie Mac, which had remained robust through the credit crisis, fell by almost half.
For a complete copy of the news release, please contact:
Carolyn Kemp, (202) 557-2727, ckemp@mortgagebankers.org
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