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2001 Commercial/Multifamily Mortgage Banker Originations Jump 19% Over 2000

Orlando, FL (February 4, 2002) - Commercial and multifamily mortgage bankers originated real estate loans totaling $73.8 billion during 2001, a 19% increase over the $62.0 billion reported for 2000, according to the Mortgage Bankers Association of America (MBA).

Much of the jump was due to lending for multifamily properties, which saw a 33% increase for the year.

Funding for the loans was provided in almost equal shares by life companies, CMBS conduits and a combination of Fannie Mae and Freddie Mac, each with about a quarter of the total. Banks, credit companies and pension funds accounted for most of the rest. The Fannie Mae/Freddie Mac share represents a large increase over the previous year when they accounted for 19% of total funding.

For the 4th quarter of 2001, MBA member firms reported originating $22.5 billion in loans, up from the previous quarter total of $18.7 billion, but down slightly from the fourth quarter 2000 total of $22.8 billion.

The fourth quarter traditionally has the highest level of originations for the year. In 2000 originations jumped from $14.3 billion to $22.8 between the third and fourth quarters. The smaller change between the third and fourth quarters of 2001 is most likely due to tighter credit standards associated with the recent downturn in the economy, increased office vacancies and problems in the hospitality industry.

The biggest annual increase was for multifamily lending, which saw a 33% increase in 2001 over 2000. Multifamily loans accounted for 48% of all originations in 2001, versus 43% in 2000.

The biggest decline was for health care properties, which dropped almost 50% or about $1 billion.

Lending for office building properties dropped by almost $400 million, and as a percent of total originations from 28% in 2000 to 23% in 2001. In contrast, lending for retail properties was $1.2 higher in 2001 than in 2000.

Consistent with the big increase in multifamily lending was the increase in loans funded by Fannie Mae and Freddie Mac. Loans originated for Fannie Mae increased $4.5 billion in 2001, a 55% increase over 2000. Freddie Mac-funded loans increased $2.9 billion over the previous year, an increase of 86%.

The shares of loans originated for life companies and CMBS conduits remained about the same in 2001 versus 2000. The life company share dropped slightly from 25% to 24%, while the CMBS conduit share increased from 24% to 25% percent.


Commercial/Multifamily Mortgage Banker Originations($ Billions)
Q1
Q2
Q3
Q4
Total
2001
15.0
17.7
18.7
22.5
73.8
2000
11.2
13.8
14.3
22.8
62.0

Data tables are available on the MBA Web site at www.mbaa.org.


MortgageDaily.com
MBA is the national association representing the real estate finance industry. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of approximately 2,800 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site: www.mbaa.org.

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