Capital markets disruptions contributed to a 16% year-to-year drop in commercial and multifamily originations during the fourth quarter but fundamentals in the market remain strong, according to the Mortgage Bankers Association. The association said the decline occurred "across most property types and investor groups." Exceptions to this included the government-sponsored enterprises, which saw a 41% dollar volume increase compared to last year's fourth quarter; and hotel and healthcare property loans, which respectively saw 349% and 3% jumps in volume during the same period. "The increase in hotel originations was heavily influenced by large portfolio sales during the period," the association said.

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