Wachovia, Washington Mutual, and Deutsche Bank Lead Multifamily Lenders in 2006
Dec 4, 2007
Washington, DC (December 4, 2007) –The Mortgage Bankers Association (MBA) release of its 2006 Annual Report on Multifamily Lending revealed Wachovia, Washington Mutual Bank and Deutsche Bank Commercial Real Estate as the leading multifamily lenders in the 8 billion multifamily lending market in 2006.
On a dollar basis, maintaining its top position from 2005, Wachovia was the largest multifamily lender in 2006, closing 1,465 multifamily loans for a total of .1 billion; and with an average loan size of million. Washington Mutual Bank and Deutsche Bank Commercial Real Estate filled out the top three positions with multifamily lending investments at .2 billion and .3 billion respectively.
The report, which focuses on apartment buildings with five or more units, also indicated an average loan size of .7 million based on 50,959 loan originations.
“The report shows a multifamily lending market that is broad and diverse,” said Senior Director of Commercial/Multifamily Research, Jamie Woodwell. “The 2,761 lenders profiled in the report range from large, integrated financial services firms to multifamily lending specialists to small local banks. Of the 2,761 multifamily lenders, six firms closed more than 1,000 multifamily loans each, while 722 lenders (26 percent of the total) made just one loan each.”
MBA’s 2006 Annual Report on Multifamily Lending provides the most detailed description of the multifamily loan market and the lenders within it; tables listing all 2,761 multifamily lenders in 2006, their loan volumes and average loan sizes; information on the very-small loan market (loans of million or less); and the volume of very small loans made in each Metropolitan Statistical Area. Copies of this new report can be purchased by clicking here.
The report is based on data combined from the MBA 2006 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation and the Home Mortgage Disclosure Act (HMDA). The MBA survey, click here to purchase, targets specialized commercial/multifamily originators and covered 6 billion in combined commercial/multifamily loans in 2006. The HMDA data adds multifamily loans from banks, thrifts and other institutions that meet certain single-family origination thresholds. Together, the two datasets provide the most comprehensive assessment of the multifamily mortgage market ever available.
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