SAN DIEGO–Commercial and multifamily mortgage loan originations were 79% higher in the fourth quarter of 2021 compared to a year ago, and increased 44% from the third quarter of 2021. This is according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, which was released today at the 2022 Commercial/Multifamily Finance Convention and Expo.
GlobeSt.com was in attendance at the event, where Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research, noted that the fourth quarter of 2021 was a record end to a record year of borrowing and lending backed by commercial and multifamily. "Part of the growth from 2020 was a bounce-back from the worst of the recession. However, rebounding property fundamentals and strong valuations, record sales transaction volumes, and low interest rates all fueled commercial and multifamily borrowing and lending activity that easily outpaced previous periods."
According to the survey, increases in originations for hotel, office, industrial, and retail properties led the overall jump in commercial/multifamily lending volumes when compared to the fourth quarter of 2020. There was a 167% year-over-year increase in the dollar volume of loans for hotel properties, a 122% increase for office properties, a 113% increase for industrial properties, a 109% increase for retail properties, and a 57% increase for multifamily properties. Health care property loan originations decreased 17% compared to the fourth quarter of 2020.
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Among investor types, the dollar volume of loans originated for Commercial Mortgage-Backed Securities (CMBS) increased by 305% year-over-year, the survey said. There was a 211% increase for investor-driven lenders, a 147% increase in commercial bank portfolio loans, a 63% increase for life insurance company loans, and a 30% decrease in the dollar volume of Government Sponsored Enterprises (GSEs – Fannie Mae and Freddie Mac) loans.
Check back with GlobeSt.com for more from the MBA event.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
