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Commercial and multifamily mortgage bankers – excluding activity from smaller and mid-sized depositories not directly captured in MBA’s survey – financed $595 billion of loans in 2022. That’s 13% less than the $683.2 billion reported last year.
Multifamily properties posted the highest volume last year at $437 billion of the total lending figure and $333 billion of mortgage bankers’ originations. First liens comprised 93% of the mortgage bankers’ dollar volume closed.
Among capital sources, depositories were the largest funder, accounting for $408 billion of total commercial and multifamily lending in 2022 and $189 billion of mortgage bankers’ originations. Government-sponsored enterprises Fannie Mae and Freddie Mac were the second-highest with a total volume of $128 billion, followed by life insurance company and pension funds, private label CMBS, and investor-driven lenders.
“A key question for 2023 is when the market will have stabilized enough for the logjam in new deal activity to break,” Woodwell said.
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