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Stories about commercial lending on multifamily, office, retail and industrial properties.

Biggest Commercial Originators

Bank of America tops MBA 2008 ranking

April 21, 2009

By staff

The biggest U.S. commercial mortgage lender last year saw volume drop off by nearly half from 2007. The third biggest lender didn't even rank among the top-ten last year, while the previous leader was forced into a merger.

Commercial mortgage originations were $37.7 billion last year at Bank of America Corp., making it the biggest commercial mortgage lender in the country, according to an annual originations ranking of commercial real estate and multifamily finance firms released today by the Mortgage Bankers Association.

BoA boosted its standing from No. 3 in 2007 despite that commercial mortgage fundings at the Charlotte, N.C.-based bank sank from $69.7 billion.

A total of 90 companies participated in MBA's survey.

The second biggest commercial originator in 2008 was Wells Fargo & Co., with $37.6 billion in volume. Wells retained its No. 2 standing from the prior year, when its production was $71.7 billion.

Wells was the biggest residential originator during 2008 and likely funded more residential loans than any other U.S. company during the first-quarter 2009.

No. 3 in MBA's ranking was PNC Real Estate, which reported $14.8 billion in 2008 commercial mortgage volume. PNC's business increased from $11.4 billion the prior year, when it only ranked 19th.

Holliday Fenoglio Fowler, L.P., came in at No. 4 in the latest report with $13.7 billion in volume last year. Holliday ranked No. 6 the previous year with $25.8 billion in commercial originations.

Wachovia Corp. fell from No. 1 in 2007 to No. 5 last year, MBA said. Last year's $13.5 billion in volume was just a fraction of 2007's $90.4 billion. Wachovia, faced with a possible collapse due to $45 billion in losses last year, agreed to be acquired by Wells Fargo on Dec. 31.

GE Real Estate was No. 6, with $11.0 billion in commercial mortgage production during 2008; followed by Capmark Financial Group Inc., which funded $10.4 billion; CBRE | Melody, at $10.1 billion; and Deutsche bank Commercial Real Estate, with $8.8 billion in volume. No. 10 was KeyBank Real Estate Capital, where fundings were $7.7 billion.

Looking only at multifamily activity, Holliday topped the list with $3.8 billion in originations last year. NorthMarq Capital was No. 2 at $1.1 billion, then CBRE's $1.1 billion and PNC's $0.9 billion. Nearly $0.8 billion in volume at Column Guaranteed made it the fifth biggest multifamily originator.

The biggest commercial mortgage broker during 2008 was Holliday, which reported $13.0 billion in loans brokered. CBRE was second, at $7.0 billion; then Wells Fargo with $6.1 billion; and NorthMarq, which brokered $4.7 billion. No. 5 was PNC, with production of $3.7 billion.

Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

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