MBA reports: Multifamily lending 40 percent lower in 2008 than 2007 – NMP Skip to main content

MBA reports: Multifamily lending 40 percent lower in 2008 than 2007

NationalMortgageProfessional.com
Nov 23, 2009

In 2008, 2,877 different multifamily lenders provided a total of more than $88 billion in new financing for apartment buildings with five or more units, according to an annual report from the Mortgage Bankers Association (MBA). The 2008 dollar volume represents a 40 percent decline from 2007 levels. In terms of total dollar volume, the top five multifamily lenders in 2008 were PNC Real Estate, Wachovia, Wells Fargo Bank NA, Capmark Financial Group Inc., and Deutsche Bank Commercial Real Estate. "Multifamily lending volume was down in 2008, but even in the face of the credit crunch, there was a broad and diverse market offering mortgages to apartment building owners," said Jamie Woodwell, MBA's vice president of commercial real estate research. "There is a core group of dedicated multifamily lenders that originated a large number of loans in 2008. In addition, there is a broad group of smaller institutions that each originated a small number of loans, but collectively offered borrowers a wide range of options. In fact, 26 percent of lenders who made multifamily loans in 2008 made just one, and two-thirds made five or fewer." The MBA report is the most comprehensive view available of the multifamily lending market and includes: ■ A detailed summary of the $88 billion multifamily market, ■ Profiles of distinct market segments, including the very-small loan (loans of $1 million or less) lender segment, ■ A listing of 2,877 lenders who made multifamily loans in 2008, 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 2008. The report is based on data from the MBA 2008 Commercial Multifamily Annual Origination Volume Summation and the Home Mortgage Disclosure Act (HMDA). The MBA survey targets specialized commercial/multifamily originators and covered $181 billion in commercial/multifamily loans in 2008. 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. 
Published
Nov 23, 2009
loanDepot Dumping Brokers, Exits Wholesale

As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.

Wholesale
Aug 09, 2022
UWM's Q2 Profit Up YOY, Despite Steep Drop In Originations

Q2 net income was up 55% from last year, while originations were down nearly 50% YOY

Industry News
Aug 09, 2022
Increasing Number Of Homes On The Market Longer

Redfin reports that 61.2% were listed for at least 30 days, up from 54.4% a year earlier.

Industry News
Aug 09, 2022
Cenlar Appoints New Chairman, Co-CEOs

Dave Applegate, the new board chair, played a major role in launch of UMBS.

Wholesale
Aug 08, 2022
Zillow Introduces AI To Home Shopping

Using Zillow's AI-generated floor plan tool, U.S. Home shoppers can get a deeper sense of a home without stepping inside.

Industry News
Aug 08, 2022
Class Action Lawsuit Filed Against Equifax Over Glitch

Complaint stems from errors in credit scores made earlier this year.

Industry News
Aug 08, 2022