MBA reports multifamily lending hit $147.7 billion in 2007; leading lenders part of industry consolidationMortgagePress.comMBA, multifamily, Commercial Multifamily Annual Origination Volume Summation and the Home Mortgage Disclosure Act
In 2007, 2,739 different multifamily lenders provided a total of
more than $147.7 billion in financing for apartment buildings with
five or more units, according to a report from the Mortgage Bankers
Association. Lenders closed 48,577 individual loans, with an
average loan size of $3 million. The average lender made 18
multifamily loans over the course of the year.
In terms of total dollar volume, the top five multifamily
lenders in 2007 were Wachovia, Washington Mutual Bank, Deutsche
Bank Commercial Real Estate, Capmark Financial Group, Inc., Wells
Fargo Bank, N.A. The top three lenders in terms of the number of
multifamily loans closed were Washington Mutual, Wells Fargo Bank,
NA, and Wachovia.
"2007 saw strong multifamily lending activity, but the market is
changing significantly," said Jamie Woodwell, MBA's vice president
of commercial real estate research. "In just the last two weeks,
we've seen announcements of 2007's two leading multifamily lenders
- Wachovia and Washington Mutual - being absorbed into other
institutions."
The MBA report is the most comprehensive view available of the
multifamily lending market and includes:
• A detailed summary of the $148 billion multifamily
market;
• Profiles of distinct market segments, including the
very-small loan (loans of $1 million or less) segment;
• A listing of 2,739 lenders who made multifamily loans in
2007, including their lending volume, number of loans made and
average loan size; and
• A listing of metropolitan areas and the volume of
very-small loans made in each in 2007.
The report is based on data from the MBA 2007 Commercial
Multifamily Annual Origination Volume Summation and the Home
Mortgage Disclosure Act (HMDA). The MBA survey targets specialized
commercial/multifamily originators and covered $508 billion in
commercial/multifamily loans in 2007. The HMDA data adds
multifamily loans from banks, thrifts and other institutions that
meet certain single-family origination thresholds. When combined,
the two datasets provide the most comprehensive assessment of the
multifamily mortgage market available.
For more information, visit www.mortgagebankers.org.
