Posted To: MND NewsWire
Commercial/multifamily mortgage debt, declined slightly during the third quarter according to data released on Thursday by the Mortgage Bankers Association (MBA). The conclusion was based on MBA's analysis of the Federal Reserve Board Flow of Funds data. During the third quarter the amount of commercial/multifamily debt outstanding declined by $28 billion or 0.8 percent to a total of $3.43 trillion. The multifamily mortgage debt portion of the total declined $1 billion or 0.1 percent to $912 billion. The bulk of the commercial/multifamily debt is held by commercial banks, which have a 45 percent share or $1.53 billion on their books. The MBA notes, however, that among the holdings of the top 10 commercial real estate bank lenders 48 percent of these mortgages are actually real estate secured…(read more)