Commercial and multifamily mortgage debt outstanding increased by $8.1 billion, or 0.3%, in the first quarter, as three of the four major investor groups increased their holdings, according to new data from the Mortgage Bankers Association (MBA).
The MBA reports that the $2.37 trillion in commercial/multifamily mortgage debt outstanding was $8.1 billion higher than the fourth-quarter 2011 figure. Multifamily mortgage debt outstanding rose to $818 billion, an increase of $6.9 billion or 0.8% from the fourth quarter of 2011.
Commercial banks held the largest share of commercial/multifamily mortgages – $808 billion or 34% – while commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities issues were the second largest holders, with $575 billion or 24%.
‘The amount of commercial and multifamily mortgage debt outstanding increased during the first quarter as lenders put out more in new loans than paid off or paid down,’ says Jamie Woodwell, the MBA's vice president of commercial real estate research. ‘Banks, Fannie Mae, Freddie Mac, the Federal Housing Administration and life insurance companies all increased their holdings of commercial and multifamily mortgages, more than offsetting declines among commercial mortgage-backed securities and other investor groups.’
The MBA's full data analysis is available online.