Skip to main content

ICBA applauds efforts to bolster housing market

National Mortgage Professional
May 07, 2008

Commercial/multifamily originations volume hit record in 2007 despite mid-year slowdownMortgagePress.comMBA, housing market, 2007 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation, The commercial/multifamily originations market grew 19 percent in 2007, with mortgage bankers closing $507.7 billion in commercial/multifamily loans according the Mortgage Bankers Association's 2007 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation. Increases were seen across most property types and most investor groups, and were led by increases in loans for office buildings and loans intended for commercial mortgage-backed security (CMBS), collateralized debt obligations (CDO) and other asset-backed security (ABS) conduits. Intermediated loan volume grew 15 percent between 2006 and 2007. "Even with the credit crunch hitting mid-year, 2007 still set a record for commercial/multifamily mortgage originations," said Jamie Woodwell, MBA's senior director of commercial/multifamily research. "The 2007 numbers show both the importance of the commercial mortgage-backed securities (CMBS) market to commercial real estate finance and the depth of other funding sources, such as banks and thrifts, life companies, Fannie Mae, Freddie Mac and others." Conduits were the largest single investor group for these mortgages - responsible for $225.2 billion, or 44 percent of the closed loan volume. Office buildings were the dominant property type - representing $140.7 billion, or 28 percent of the lending total. Among major investor groups, Freddie Mac saw the greatest percentage increase in volume between 2006 and 2007, followed by Fannie Mae; CMBS, CDO and other ABS conduits; real estate investment trusts (REITs); and life insurance companies. Lending for office properties once again was the leader in property type originations for 2007, followed closely by multifamily. Lending for office properties grew by 36 percent between 2006 and 2007. Lending for multifamily, health care, and hotel/motel saw increases, while retail and industrial saw slight declines over the year. In a separate report, MBA's quarterly index of commercial/multifamily mortgage bankers' originations showed that through the first half of 2007, originations were running 38 percent ahead of 2006 levels. During the second half of 2007, commercial/multifamily originations fell 11 percent from their 2006 levels. For more information, visit www.mortgagebankers.org.
Published
May 07, 2008
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021
Offerpad Expands Into Kansas City, St. Louis

Tech-Enabled Platform For Real Estate Transactions Now In 20 Markets

Industry News
Sep 20, 2021
KBRA Assigns Preliminary Ratings To RCKT 2021-4

Includes 1,002 Residential Mortgages With An Aggregate Principal Balance Of $968.4M

Industry News
Sep 20, 2021
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021