Last year was a good one for multi-family lenders as nearly 3,000 lenders originated a total of $269.2 billion in mortgages for apartment buildings of at least 5 units
.jpg)
Last year was a good one for multi-family lenders as nearly 3,000 lenders originated a total of $269.2 billion in mortgages for apartment buildings of at least 5 units.
The Mortgage Bankers Association says the 8% rise in multi-family lending was from a variety of investors but by dollar volume the largest share (39%) went to the GSEs, Freddie Mac and Fannie Mae.
The top five lenders for multi-family in 2016 were Wells Fargo, JP Morgan Chase and Company, CBRE Capital Markets, Inc., Berkadia, and Walker & Dunlop.
Wells Fargo closed more than 7,500 loans while the 61% of all active lenders closed 5 or fewer multi-family loans in 2016.
"Last year was another record year for multifamily mortgage lending," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research. "In 2016, strong property performance, rising property values and low mortgage rates all meant greater access to mortgage credit for apartment property owners.”
He added that the figures show the breadth of the market with loans ranging from tens of thousands of dollars to multi-million-dollar mortgages.
“Market momentum has continued in 2017, with strong demand from borrowers and a strong appetite to lend by lenders, especially of loans going to government-related entities," Woodwell concluded.
The Mortgage Bankers Association says the 8% rise in multi-family lending was from a variety of investors but by dollar volume the largest share (39%) went to the GSEs, Freddie Mac and Fannie Mae.
The top five lenders for multi-family in 2016 were Wells Fargo, JP Morgan Chase and Company, CBRE Capital Markets, Inc., Berkadia, and Walker & Dunlop.
Wells Fargo closed more than 7,500 loans while the 61% of all active lenders closed 5 or fewer multi-family loans in 2016.
"Last year was another record year for multifamily mortgage lending," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research. "In 2016, strong property performance, rising property values and low mortgage rates all meant greater access to mortgage credit for apartment property owners.”
He added that the figures show the breadth of the market with loans ranging from tens of thousands of dollars to multi-million-dollar mortgages.
“Market momentum has continued in 2017, with strong demand from borrowers and a strong appetite to lend by lenders, especially of loans going to government-related entities," Woodwell concluded.
