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Ten dollar billsBank of America and Wells Fargo were the top commercial/multifamily originators in 2008, according to a set of listings released today by the Mortgage Bankers Association (MBA).

Other originators in the top 10 include PNC Real Estate; Holliday Fenoglio Fowler, L.P.; Wachovia; GE Real Estate; Capmark Financial Group Inc.; CBRE | Melody; Deutsche Bank Commercial Real Estate; and KeyBank Real Estate Capital.

Eight different companies topped the 11 lists reporting originations by investor groups:

¢ Capmark Financial Group as the top originator for Freddie Mac, FHA/Ginnie Mae, and specialty finance;
¢ Bank of America for commercial banks/savings institutions and conduits;
¢ MetLife Real Estate Investments for life insurance companies;
¢ PNC Real Estate for Fannie Mae;
¢ KeyBank Real Estate Capital for REITS, mortgage REITS, investment funds;
¢ TIAA-CREF for pension funds;
¢ GE Real Estate for credit companies; and
¢ Wells Fargo for other investors.

By dollar volume, the top five intermediaries in 2008 were Holliday Fenoglio Fowler, L.P., CBRE | Melody, Wells Fargo, NorthMarq Capital, and PNC Real Estate. The top five lenders were Bank of America, Wells Fargo, Wachovia, PNC Real Estate, and GE Real Estate.

The MBA study is the only one of its kind to present a comprehensive set of listings of commercial/multifamily mortgage originators and the different roles they play. The MBA report, Commercial Real Estate/Multifamily Finance Firms – Annual Origination Volumes, presents origination volumes in more than 140 categories, including by role, by investor group, by property type, by financing structure type, and by the location of the originating office.

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  • Sonny Cray

    I am buying 232 units that sold in Tucson in 2007 for $11.6M. The loan balance is $9.6, and the lender, who is carrying the balance, is writing down to me to $3.6, and I have to put $400K cap improvements, interest reserve, t + i escrow up. It’s 72% full after being totally neglected for 25 months. Incredible traffic. Who do I turn to when I am at 80, 85 or 90% occupied to get a new loan that takes out my existing loan + capital improvements?

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