However the overall amount of mortgage debt outstanding that is backed by commercial/multifamily properties has remained relatively unchanged due to increased holdings by banks and thrifts and the GSEs, according to a statement by Jamie Woodwell, MBA's vice president of Commercial Real Estate Research.
While the top line numbers from the Fed reflect a drop in the holdings of banks and thrifts, once construction loans are excluded, this group actually increased its holdings of loans backed by commercial and multifamily properties.
"Coupled with increases in the holdings of multifamily mortgages by Fannie Mae and Freddie Mac, and decreases in the balances backing commercial mortgage-backed securities, the overall amount of mortgage debt outstanding backed by commercial/multifamily properties remained relatively unchanged," he said.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
