Last year, 2,548 different multifamily lenders provided a total of $68.8 billion in mortgage financing for apartment buildings with five or more units – a 31% increase from 2009's total dollar volume, according to a new report from the Mortgage Bankers Association (MBA).
The MBA's data shows that just 1% of the lenders accounted for 51% of the dollar volume, while three-quarters of the lenders made five or fewer loans over the course of the year.
The top-five multifamily lenders, in terms of dollar volume, were Wells Fargo Bank NA, CBRE Capital Markets Inc., Berkadia Commercial Mortgage LLC, PNC Real Estate and Prudential Mortgage Capital Co.
The MBA report, which is available for purchase on the association's website, is based on data from the MBA 2010 Commercial Multifamily Annual Origination Volume Rankings and the Home Mortgage Disclosure Act (HMDA). The report includes a detailed summary of the market, profiles of distinct market segments and a listing of multifamily lenders, the MBA says.