The level of commercial and multifamily mortgage debt outstanding increased by $21.8 billion, or 0.9%, in the fourth quarter of 2012, according to the Mortgage Bankers Association (MBA). On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2012 was $29.7 billion higher than at the end of 2011, an increase of 1.2%.
Commercial banks continue to hold the largest share of commercial/multifamily mortgages, with $836 billion or 35% of the total. Commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities issues were the second largest holders of commercial/multifamily mortgages, holding $561 billion or 23% of the total.
Multifamily mortgage debt outstanding rose to $846 billion, an increase of $11.8 billion, or 1.4% from the third quarter, and $35.7 billion or 4.4% from the fourth quarter of 2011. Looking solely at multifamily mortgages, agency and government-sponsored enterprise portfolios and mortgage-backed securities held the largest share, with $376 billion or 45% of the total multifamily debt outstanding. Banks and thrifts held $234 billion or 28% of the total multifamily mortgage debt.