MBA: Commercial/MF Originations Fall

Pointing to a slowdown in activity, originations of commercial and multifamily mortgage loans fell 6% in the third quarter from the level recorded a year earlier, according to the Mortgage Bankers Association.Loan originations for conduits, life insurance companies, and credit companies saw the biggest dropoffs, leading the third-quarter decline, the trade group said. All the major property types saw origination declines, with only hotel properties bucking the trend with a 5% increase. However, third-quarter loan originations were up 5% compared with those in the second quarter, and originations through the third quarter remained higher than at the same time last year. "Mortgage bankers' commercial/multifamily origination activity is down compared to last year's third quarter, but origination levels remain extremely strong," noted Jamie Woodwell, the MBA's senior director of commercial/multifamily research. The MBA can be found online at http://www.mortgagebankers.org.