Mortgage bankers originated $110 billion of commercial and multifamily mortgages during 2010 — an increase of 36% from 2009, according to preliminary estimates based on the Mortgage Bankers Association’s quarterly survey of commercial-multifamily mortgage bankers originations.
Life insurance companies were a leading source of lending in 2010, with origination volumes 155% higher than 2009 levels.
Fannie Mae, Freddie Mac and FHA-Ginnie Mae also saw strong volumes, with increases in production for FHA-Ginnie Mae offsetting a decline in production for Fannie and Freddie.
Originations for commercial banks saw a year-over-year decline, while originations for CMBS conduits increased more than 10-fold.
“Commercial and multifamily mortgage originations jumped 63% in the fourth quarter, pulling the annual total for 2010 up to a preliminary estimate of $110 billion,” said Jamie Woodwell, the MBA’s vice president of commercial real estate research.
“Life companies and FHA led the increase in dollar volumes, but a large percentage increase in originations for CMBS is likely the most symbolic change from last year,” Woodwell said.
