Multi-Family Mortgages rise by 13% in Q4 of 2011
By Gretchen Wegrich Updated on 9/25/2013
Mortgage originations for commercial and multi-family loans increased 13% year-over-year in the fourth quarter of last year. However, the number was down 7% from the earlier quarter of the same year (2011).
MBA (Mortgage Bankers Association) expressed that its quarterly survey shows a sharp rise in commercial lending which is mostly due to more originations for industrial and multifamily property types.
Mortgages for industrial properties climbed 43% over 2010 numbers (a year earlier) while loans for multi-family properties rose 31% in the final quarter of 2011.
Retail properties saw a decline in their loan activities amounting to 8%, while loans on health care properties dropped 24%. Office locations and hotel property loan originations also dropped 29% and 44%, respectively.
When analyzing loans by type of investors, commercial bank portfolios had a 122% growth from a year earlier period. Moreover, there was a 17% jump in loans for GSE (government-sponsored enterprises), a 13% drop in loans for insurance companies and a 50% decline in loans for conduits for CMBS.
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About The Author:
Gretchen Wegrich
Gretchen Wegrich is an editor at Lender411. She specializes in mortgage basics, personal finance and green living. She graduated with a bachelor's degree in writing from University of California, San Diego and previously worked at the Santa Cruz Sentinel. Contact her at gretchen@lender411com.
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