Commercial and multifamily mortgage origination volumes during the second quarter of this year were up 39% from the first quarter and up 25% from second quarter 2011 levels, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Compared to the first quarter, second-quarter originations for hotel properties saw a 147% increase. There was a 66% increase for office properties, a 47% increase for industrial properties, a 33% increase for healthcare properties, a 29% increase for retail properties and a 21% increase for multifamily properties.
Among investor types, loans for conduits for commercial mortgage-backed securities saw a 302% quarterly increase in loan volume. Loans for life insurance companies saw an increase in volume of 37%, while originations for the government-sponsored enterprises increased 28% and loans for commercial bank portfolios increased by 9%.
‘Commercial and multifamily mortgage lending and borrowing continued to pick up in the second quarter,’ says Jamie Woodwell, MBA's vice president of commercial real estate research. ‘Low interest rates and continued stabilization and growth in the commercial real estate markets are helping support new loan originations, and every major investor group increased their lending over the quarter.’