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| Jamie Woodwell |
WASHINGTON, DC (Oct. 17, 2014) – In 2013, 2,898 different
multifamily lenders provided a total of $172.5 billion in new mortgages for
apartment buildings with five or more units, according to a report from the
Mortgage Bankers Association (MBA).
The 2013 dollar volume represents an 18 percent increase
from 2012 levels. Sixty-two percent of
the active lenders made five or fewer multifamily loans over the course of the
year.
“Multifamily lending hit a new record in 2013,” said Jamie
Woodwell, MBA’s Vice President of Research and Economics.
“A strong appetite for loans led banks to increases
multifamily lending by 19 percent, life companies to increase by 65 percent and
the CMBS market to increase by 119 percent.
"The report shows increases in multifamily lending among both smaller and
larger loan sizes and within most lender segments.”
The MBA report is based on its surveys of the larger
multifamily lenders and the recently released Home Mortgage Disclosure Act
(HMDA) data that covers multifamily loans made by many smaller lenders,
particularly commercial banks.
The $172.5 billion of multifamily mortgages originated in
2013 went to a variety of investors. By
dollar volume, the greatest share (39 percent of the total) went to commercial
bank, thrift and credit union portfolios.
The top five multifamily lenders in 2013 by dollar volume
were J.P. Morgan Chase and Company, Wells Fargo, PNC Real Estate, CBRE Capital
Markets, Inc., and KeyBank.
For
a complete copy of the company’s news release, please contact:
Shawn Ryan
(202) 557-2727
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