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Mortgage Bankers Set New Volume Record for Commercial/Multifamily Loans
Commercial and multifamily mortgage bankers closed a record $530.1 billion of loans in 2017, the Mortgage Bankers Association said. Nearly a third of that total, or $151.2 billion, reportedly came from commercial banks, while GSEs came in second with $130 billion.
Last year’s volume represented an 8% increase over 2016. By property type, multifamily garnered the lion’s share of originations with $233.9 billion of the total. First liens accounted for 96% of the total dollar volume closed.
“2017 was a very strong year, driven by solid property fundamentals, rising property values, low interest rates, and a ready supply of mortgage capital all contributing to extraordinarily attractive finance markets,” said Jamie Woodwell, MBA’s VP of commercial real estate research. “We expect another robust year in 2018, even with the slight increase in interest rates, although perhaps not quite as robust as 2017.”
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