Washington, DC (June 16, 2011) - The level of commercial/multifamily mortgage debt outstanding remained essentially unchanged at $2.4 trillion in the first quarter of 2011, decreasing by 0.1 percent from fourth quarter 2010, according to the Mortgage Bankers Association's (MBA) analysis of the Federal Reserve Board Flow of Funds data. MBA's analysis was changed in the fourth quarter of 2010 to more accurately reflect the true level of mortgages backed by income-producing commercial and multifamily properties. The changes are detailed in Appendix A of the report.
The $2.4 trillion in commercial/multifamily mortgage debt outstanding was $3 billion lower than the fourth quarter 2010 figure. Multifamily mortgage debt outstanding rose to $800 billion, an increase of $3 billion or 0.4 percent from the fourth quarter.
"New commercial and multifamily mortgage lending offset the amount of debt paid-off and paid-down during the first quarter, leaving the outstanding balance essentially unchanged," said Jamie Woodwell (top right photo) MBA's Vice President of Commercial Real Estate Research.
"Five of the seven largest investor groups increased their holdings of commercial and multifamily mortgages during the quarter. Banks and thrifts and finance companies saw declines in the balances of commercial and multifamily mortgages they hold."
For a complete copy of MBA’s news release, please contact Matt Robinson, (202) 557-2727, mrobinson@mortgagebankers.org
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