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WASHINGTON, D.C. (April 15, 2021) – Commercial and multifamily mortgage bankers closed $441.5 billion of loans in 2020, according to the Mortgage Bankers Association’s (MBA) 2020 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation. The $441.5 billion in commercial and multifamily mortgages closed last year was 26 percent lower than the record $601 billion reported in 2019.
“Commercial and multifamily borrowing and lending in 2020 fell by a quarter from 2019’s record year, as the COVID-19 pandemic disrupted the economy and created increased uncertainty,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “The property types most impacted by the pandemic – lodging and retail – saw the largest declines in originations, while those in which investors and lenders had the greatest confidence – particularly multifamily – held up better. The source of capital also mattered, with government-backed loans from the Fannie Mae, Freddie Mac and FHA hitting new record-highs in volume.”
Multifamily properties saw the highest volume of mortgage bankers’ origination volume last year at $272.0 billion, followed by office buildings, industrial properties, retail, health care and hotel/motel. First liens accounted for 98 percent of the total dollar volume closed.
Image: Pixabay
