2024 Top Mortgage Banking and Brokerage Firms
Find out which firms led MHN’s annual ranking.
You can also read our other Top Mortgage Banks rankings.
*Includes originations between 10/01/2022 and 09/30/2023.
Though we make every effort to include all major multifamily lenders, several notable firms (among them JLL, Bank of America, KeyBank, Bellwether and Eastdil Secured) did not participate this year.
To be included in upcoming rankings, email Agota Felhazi at [email protected].
Originations Cool After Pandemic Boom
This year, the multifamily market transitioned from a period of rapid growth to stabilization. While the sector remains resilient, financing activity has slowed considerably due to rising interest rates and weaker transaction activity.
In 2023, $62 billion in transaction volume was recorded versus the $238 billion total two years prior—a drop of nearly 74 percent, as Yardi Matrix data shows. In turn, multifamily originations were down 50 percent year-over-year in the third quarter of 2023, according to the Mortgage Bankers Association.
In our 2024 ranking of the top multifamily mortgage banking and brokerage firms, CBRE takes first place. The firm boasted nearly $35 billion in total originations during the year ending in September 2023, with half of that concentrated in the multifamily sector. As a reflection of its strong sales, the company recently received a relative strength score of 82, surpassing the 80-score benchmark required by Investor’s Business Daily to be considered an outperforming stock.
In the face of economic uncertainty, firms are adapting to new market dynamics and are shifting focus toward quality assets. Nineteen of our 20 top multifamily lenders reported a decrease in total originations during the 12 months prior to September 2023. These lenders also indicated a more negative outlook for the year ahead, with the majority of respondents anticipating a continued drop in activity.
Methodology
The 2024 Multi-Housing News Top 20 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.
— Claire Spadoni, Senior Research Analyst, Yardi Matrix
