Multifamily lenders closed $52.5 billion in loans in 2009, down 40% from the prior year, according to the Mortgage Bankers Association.
MBA reported that 2,752 lenders were active in the multifamily market in 2009 and made nearly 20,700 loans.
Wells Fargo Bank, N.A. ranked highest by originating 1,100 multifamily loans totaling $7 billion. PNC Real Estate ranked second with 348 loans totaling $4.8 billion.
Deutsche Bank Commercial Real Estate, CBRE Capital Markets Inc. and Capmark Financial Group Inc. round out the top five multifamily lenders for last year.
MBA researchers found that 850 lenders made just one MF loan in 2009 and 2,030 lenders made fewer than five.
Meanwhile, recent origination data show that Fannie Mae, Freddie Mac and the Federal Housing Administration have guaranteed nearly $18 billion in multifamily loans during the first half of 2010.
FHA has insured $6.3 billion in MF loans during the first six months of 2010. Fannie has purchased $5.9 billion from its multifamily loans and Freddie has purchased $4.5 billion in MF loans.
FHA is seeing the most explosive growth during the first 11 months of fiscal year 2010, which ended September 30.
By the end of August, FHA had endorsed $12.4 billion in MF loans -- up 124% compared to the first 11 months in FY 2009.
