2025 Top Mortgage Banking and Brokerage Firms
Find out which firms led MHN’s annual ranking of 15 industry leaders.
You can also read our other Top Mortgage Banks rankings.
*Includes originations between 10/01/2023 and 09/30/2024.
Note: Though we make every effort to include all major multifamily mortgage lenders, several notable firms (among them JLL, Bank of America, KeyBank, Bellwether and Draper and Kramer Inc.) did not participate this year.
To be included in upcoming rankings, email Agota Felhazi at agota.felhazi@cpe-mhn.com.
Lending Heats Up Despite Challenges
Multi-Housing News presents its 2025 ranking of the top multifamily mortgage banking and brokerage firms. This comprehensive ranking showcases 15 leading lenders, which adapted to the evolving economic landscape and provided multifamily loans totaling $118.5 billion during the 12-month period ending in September 2024. Below, MHN offers a more detailed view of the top 10 multifamily lenders.
1. Newmark
Newmark took the top spot in MHN’s 2025 ranking, boasting an impressive 79.6 percent increase in total lending volume year-over-year. The leading commercial real estate advisor and service provider maintained a global reach with 170 locations staffed by more than 8,000 experts. Newmark provided multifamily loans totaling nearly $17 billion during the 12 months ending in September 2024. Freddie Mac also recognized Newmark as the top lender for the student housing sector in 2024.
2. CBRE
Securing the second spot, CBRE boasted a vast international network of more than 500 offices manned by more than 140,000 professionals. The international powerhouse originated multifamily loans totaling roughly $20.1 billion during the surveyed timeframe. Freddie Mac recognized CBRE as the top lender for small balance financing in 2024. At the same time, Fannie Mae counted CBRE as the GSE’s top green financing producer of last year.
3. Walker & Dunlop
Walker & Dunlop, with more than 40 locations across the U.S. and globally, also secured a spot on the podium. Walker & Dunlop issued multifamily loans amounting to approximately $22.4 billion. Meanwhile, Fannie Mae recognized Walker & Dunlop as the top DUS lender partner and as a leading lender in the student housing sector in 2024.
4. Berkadia
Taking the fourth spot in our ranking, Berkadia was the top Freddie Mac lender for the fourth year in a row and the number two Fannie Mae DUS lender of 2024. Beside working together with the agencies, Berkadia was also the top HUD lender by volume in 2024. Overall, Berkadia originated multifamily loans totaling more than $18.3 billion in the surveyed period.
5. Greystone
Greystone, with the help of a nationwide network of more than 1,100 commercial real estate experts, provided approximately $9 billion in multifamily loans. The firm was also the top Fannie Mae DUS producer for small loans in 2024, as well as number five in our ranking.
6. Northmarq
With a presence of more than 50 offices nationwide, Northmarq placed sixth on our list. Leveraging the deep, local knowledge of its array of 1,000 commercial real estate professional throughout the U.S., Northmarq provided more than $5.5 billion in multifamily loans during the surveyed period.
7. Merchants Capital
Seventh in our ranking, Merchants Capital was also top lender of forward rate-locks for Freddie Mac in 2024. The financial services firm originated $5.7 billion in multifamily loans during the 12 months ending in September. Merchants Capital increased its origination volume by 7.9 percent year-over-year, second only to Newmark.
8. Arbor Realty Trust Inc.
Freddie Mac highlighted Arbor Realty Trust Inc. as the top lender for workforce housing rent preservation in 2024. The multifamily lender was also among the top 10 Fannie Mae DUS lenders in 2024 and placed eighth on our ranking. Overall, Arbor provided nearly $4.8 billion in multifamily loans during the surveyed period.
9. NewPoint Real Estate Capital
NewPoint Real Estate Capital placed ninth in our ranking of the top multifamily mortgage banking and brokerage firms. The multifamily lender was among the top 10 Freddie Mac Optigo lenders and among the top three HUD LEAN lenders of 2024. Overall, NewPoint originated nearly $3.3 billion in multifamily loans during the 12 months ending in September.
10. M&T Realty Capital Corp.
M&T Realty Capital Corp. closed our top 10 and was also among the top five Fannie Mae DUS producers for the senior housing sector in 2024. The subsidiary of M&T Bank is an active Fannie Mae DUS and Freddie Mac Optigo lender since 1989. Overall, the mortgage banking company provided nearly $4 billion in multifamily loans during the surveyed period.
Methodology
The 2025 Multi-Housing News Top 15 Multifamily Mortgage Banking and Brokerage Firms ranking utilizes self-reported data for all companies. Our ranking is calculated using a weighted formula based on a variety of factors, including total origination volume, coverage offered, growth in transaction volume and loan positioning, among others. The ranking represents what we feel is a logical balance between firm growth and market share, as well as sector diversity or specialization. Ranking factors are not limited to the data on this page.
— Agota Felhazi, Senior Associate Editor, Yardi Matrix
