Commercial and multifamily mortgage loan originations experienced a 12% jump year over year for the third quarter 2015 and a 3% increased over the second quarter of 2015, a new report says.
The overall hike in loan originations for commercial/multifamily lending volumes came primarily from loans for retail and office for the third quarter, according to the Mortgage Bankers Association.
By segment, year over year increases in the dollar volume of loans were 39% for retail properties, 17% for office properties, 11% for multifamily properties and 10% for industrial properties, the MBA said. The dollar volume of loans dropped 9% for hotel properties and 30% for health care properties from the third quarter 2014 to the third quarter 2015, according to the MBA.
The MBA’s commercial real estate research division said both commercial mortgage borrowing and lending continued to increase in the third quarter 2015 and that all but one major investor group and property type saw increases in year-to-date lending volumes, a trend that is forecast to continue through the fourth quarter 2015.
Among investor types, commercial bank portfolio loans led the way, with a 93% spike in the dollar volume of loans originated year over year. Life insurance company loans jumped 18% for the same period, while decreases were seen in the dollar volume of government-sponsored enterprises (GSEs – Fannie Mae and Freddie Mac) loans, down 3%, and commercial mortgage backed securities (CMBS) loan, down 8%.
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