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Commercial/multifamily mortgage debt outstanding increased by $35.3 billion in the first quarter, the Mortgage Bankers Association (MBA) reported, as three of four major investor groups increased their holdings, which is a 1.2 percent
increase over the fourth quarter.
According to the MBA quarterly Commercial/Multifamily Mortgage Debt Outstanding report, total commercial/ multifamily debt outstanding rose to $2.86 trillion at the end of the first quarter. Multifamily mortgage debt outstanding rose to $1.07 trillion, an increase of $18.2 billion, or 1.7 percent, from the fourth quarter.
Commercial and multifamily mortgage debt outstanding continues to grow at a "strong clip," said MBA Vice President of Commercial Real Estate Research Jamie Wood well.
"Bank holdings and multifamily loans backed by Fannie Mae and Freddie Mac drove growth during the quarter," Woodwell said. "However, the balance of loans held in commercial mortgage-backed securities [CMBS] continues to decline and has now fallen by one-third since it peaked in 2007, as more CMBS loans are paid off and paid down than are originated."
For the report, MBA classifies the four major investor groups as bank and thrift; commercial mortgage-backed securities; collateralized debt obligation (CDO) and other asset-backed securities (ABS)...