The Mortgage Bankers Association (MBA) reports last year 2,083 multifamily housing lenders provided $146.1 billion in new loans to apartment buildings with five or more units, representing a 33 percent gain from 2011. The mortgages went to a variety of investors, the biggest dollar volume share, 40 percent, going to Fannie Mae and Freddie Mac. Measuring number of loans, 80 percent went to commercial bank, thrift and credit union portfolios. As nationalmortgageprofessional reports, top multifamily dollar lender was JP Morgan Chase, followed by Wells Fargo and CBRE Capital Markets, Inc. Jamie Woodwell of MBA tells MHProNews, “In many ways, we were in a golden age of multifamily finance in 2012, that to a large extent continues today. Low interest rates, strong property fundamentals, and increasing multifamily property prices are all supporting a very favorable lending environment.”
(Image credit: GRO Architects–Jackson Green, multifamily modular apartments in Jersey City, New Jersey)
