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MBA: Multifamily Lending Powered Through Pandemic in 2020
Multifamily lenders provided a total of $359.7 billion in new mortgages for apartment buildings with five or more units in 2020, the Mortgage Bankers Associated reported Thursday. The tally was just 1% below 2019’s record level of $364.4 billion.
“Multifamily borrowing and lending remained strong in 2020, despite the COVID-19 pandemic,” said Jamie Woodwell, MBA’s VP of commercial real estate research. “Robust financing for properties, increased refinancing activity through government-backed loans, and consistent mortgage availability from banks led the market to a level of mortgage originations that was essentially flat from the record year of 2019.”
The $359.7 billion of multifamily mortgages originated in 2020 went to a variety of investors. By dollar volume, the greatest share (46%) went to Fannie Mae and Freddie Mac.
The top five multifamily lenders in 2020 by dollar volume were Walker & Dunlop, Berkadia, CBRE, Wells Fargo and Greystone.
- ◦Financing
