MBA Analysis Pegs 2011 Multifamily Lending at $110 Billion, Up 60 Percent From 2010

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In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association.

Washington, D.C.—In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA). The 2011 dollar volume represents a 60 percent increase from 2010 levels. Seventy-two percent of the active lenders made five or fewer multifamily loans over the course of the year.

The top five multifamily lenders in 2011, measured by total dollar volume, were Wells Fargo Bank N.A., JP Morgan Chase, CBRE Capital Markets, Inc., PNC Real Estate, and Berkadia.

The MBA report is the most comprehensive view available of the multifamily lending market and includes:

  • A detailed summary of the $110.1 billion multifamily market,
  • Profiles of distinct market segments, including the very-small loan (loans of $1 million or less) lender segment,
  • A listing of 2,653 lenders who made multifamily loans in 2011, including their lending volume, number of loans made and average loan size; and
  • A listing of metropolitan areas and the volume of very-small loans made in each in 2011.

The report is based on data from the MBA 2011 Commercial Multifamily Annual Origination Volume Summation and the Home Mortgage Disclosure Act (HMDA). The MBA survey targets specialized commercial/multifamily originators and covered $184 billion in commercial/multifamily loans in 2011. The HMDA data adds multifamily loans from banks, thrifts and other institutions that meet certain single-family origination thresholds. When combined, the two datasets provide the most comprehensive assessment of the multifamily mortgage market available.

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