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MBA: Outstanding CRE Mortgage Debt Continues to Increase
The level of commercial/multifamily mortgage debt outstanding rose by $43.6 billion, or 1.2%, during the second quarter, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
MBA said Monday that total commercial/multifamily debt outstanding rose to $3.76 trillion at the end of Q2. Multifamily mortgage debt alone increased $32.2 billion to $1.6 trillion from Q1.
Despite a drop-off in originations during Q2, “the total amount of mortgage debt outstanding continued to rise,” said Jamie Woodwell, MBA’s VP of commercial real estate research. “The pandemic is having different impacts on various property types and capital sources. Loans backed by multifamily properties accounted for almost three-quarters of the total growth, and Fannie Mae, Freddie Mac, and FHA accounted for nearly three-quarters of that amount.”
The four largest lender groups are: banks and thrifts; GSE portfolios and MBS; life insurance companies; and asset-backed securities including CMBS.
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