Multifamily Lending Increased Marginally in 2024
Read the Mortgage Bankers Association’s annual report of the multifamily lending market.
In 2024, 2,463 different multifamily lenders originated a total of $288.7 billion in new mortgages for multifamily properties with five or more units, according to the Mortgage Bankers Association’s annual report of the multifamily lending market.
Last year’s $288.7 billion in multifamily lending volume represents a 17 percent increase from 2023 levels. 53 percent of the active lenders made five or fewer multifamily loans over the course of the year.
Following 2023’s low-volume year, multifamily lending picked up in 2024, with activity increasing across lenders of all sizes and capital sources. While the multifamily market is served by some of the largest institutions in the country, it remains broad and diverse, with more than half of lenders active in the space making only a handful of loans in a year.
The $288.7 billion of multifamily mortgages originated in 2024 went to a variety of investors. By dollar volume, the greatest share (41 percent of the total) went to government-sponsored enterprises Fannie Mae and Freddie Mac.
The top five multifamily lenders in 2024 by dollar volume were JP Morgan Chase & Co., Walker & Dunlop, Berkadia, Wells Fargo and CBRE.
For more information on this report, please visit this link.
—Posted on September 23, 2025
