2 Mortgage Classes Pass $2.5 Trillion
Posted on: Saturday, 14 January 2006, 18:00 CST
By The Daily Oklahoman
Jan. 14--The level of commercial and multifamily mortgage debt outstanding passed $2.5 trillion in the third quarter of 2005, growing 3.4 percent over the previous three months, according to the Mortgage Bankers Association of America.
"The commercial-multifamily mortgage market continues to be buoyed by modest long-term interest rates, improving property fundamentals and strong equity flows," said Doug Duncan, the association's chief economist and senior vice president of research and business development. "The result is a quarter with record originations, record increases in mortgage debt outstanding, near records in (commercial mortgage-backed securities) issuance and record increases in commercial banks' commercial-multifamily mortgage holdings."
The third quarter saw $38.3 billion in issuance of commercial mortgage-backed securities, 78 percent more than the same quarter of 2004 and 3 percent less than in second-quarter 2005.
Commercial banks continue to hold the largest share of commercial-multifamily mortgages, with $1.1 trillion, or 43 percent of the total, the association said.
However, many commercial mortgage loans reported by commercial banks actually are "commercial and industrial" involving commercial property pledged as collateral. Borrowers' business income -- not income from properties' rents and leases -- drives performance of the loans, so the commercial bank numbers are not comparable, the association said.
-----
Copyright (c) 2006, The Daily Oklahoman
Distributed by Knight Ridder/Tribune Business News.
For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.
Source: The Daily Oklahoman
Related Articles
- Whiting Petroleum Corporation's Third Quarter 2008 Earnings Reach a Record $112.4 Million or $2.65 Per Share
- Whiting Petroleum Corporation's Second Quarter 2008 Earnings Reach a Record $80.4 Million or $1.90 Per Share $216.3 Million in Discretionary Cash Flow
- AFOP Reports 3rd Quarter 2007 Results With Record Quarterly Revenues and Profits
- Cheney defends search of bank records
- Penn Virginia Corporation Announces Results for Third Quarter of 2005; Reports Record Cash Flow
- Edge Petroleum Announces Third Quarter Financial Results With Record Net Income and Provides Updated 2005 Guidance
- Penn Virginia Corporation Announces Results for Second Quarter of 2005; Reports Record Cash Flow and Production
- Devon Energy Earns $653 Million in Second Quarter of 2005; Earnings Per Share Climb 37 Percent to New Record
- 2005 Second Quarter and Six Months Record Results and Announcement of Refinancing Reported By Amphenol Corporation
- GMAC Commercial Mortgage Reduces Sarbanes-Oxley Compliance Costs By Up to 50 Percent, Gains Competitive Edge With Microsoft Technologies
User Comments (0)
RSS Feeds