MORTGAGE BANKERS ORIGINATIONS Q3 2015

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1 Q2 Q 3 MB O MBO QUARTERLY SURVEY OF COMMERCIAL / MULTIFAMILY MORTGAGE BANKERS ORIGINATIONS Q This data is provided by MBA solely for use as a reference. No part of the survey or data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without MBA s prior written consent mba.org/research

2 2015 Mortgage Bankers Association (MBA). All rights reserved, except as explicitly granted M Street NW, 5th Floor, Washington, DC (202) This data is provided by MBA solely for use as a reference. No part of the survey or data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without MBA s prior written consent. Disclaimer Although the MBA takes great care in producing this and all related data products, the MBA does not guarantee that the information is accurate, current or suitable for any particular purpose. The referenced data are provided on an as is basis, with no warranties of any kind whatsoever, either express or implied, including, but not limited to, any warranties of title or accuracy or any implied warranties of merchantability or fitness for a particular purpose. Use of the data is at the user s sole risk. In no event will MBA be liable for any damages whatsoever arising out of or related to the data, including, but not limited to direct, indirect, incidental, special, consequential or punitive damages, whether under a contract, tort or any other theory of liability, even if MBA is aware of the possibility of such damages

3 QUARTERLY SURVEY OF COMMERCIAL / MULTIFAMILY MORTGAGE BANKERS ORIGINATIONS Q3 2015

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5 3. Production Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations Third Quarter 2015 According to the Mortgage Bankers Association s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, third quarter 2015 commercial and multifamily mortgage loan originations were 12 percent higher than during the same period last year and three percent higher than the second quarter of Commercial mortgage borrowing and lending continued to grow during the third quarter, said Jamie Woodwell, MBA s Vice President of Commercial Real Estate Research. Every major investor group and property type except one has seen increases in year-to-date lending volumes, and we expect year-end numbers to continue that trend. THIRD QUARTER 2015 ORIGINATIONS 12 PERCENT HIGHER THAN THIRD QUARTER 2014 Increases in originations for retail and office properties led the overall increase in commercial/multifamily lending volumes when compared to the third quarter of The increase included a 39 percent increase in the dollar volume of loans for retail properties, a 17 percent increase for office properties, an 11 percent increase for multifamily properties, a 10 percent increase for industrial properties, a nine percent decrease in hotel property loans, and health care property loans decreased 30 percent year-over-year. Among investor types, the dollar volume of loans originated for commercial bank portfolio loans increased by 93 percent from last year s third quarter. There was an 18 percent increase for life insurance company loans, a three percent decrease for Government Sponsored Enterprises (GSEs Fannie Mae and Freddie Mac) loans, and an eight percent decrease in dollar volume for Commercial Mortgage Backed Securities (CMBS) loans. THIRD QUARTER 2015 ORIGINATIONS UP THREE PERCENT FROM SECOND QUARTER 2015 Third quarter 2015 originations for office properties increased 37 percent compared to the second quarter There was a 27 percent increase in originations for retail properties, a five percent increase for health care properties, a one percent decrease for industrial properties, an eight percent Commercial/Multifamily Mortgage Bankers Originations Index 2001 quarterly average = Q1 2002Q2 2002Q3 2002Q4 2003Q1 2003Q2 2003Q3 2003Q4 2004Q1 2004Q2 2004Q3 2004Q4 2005Q1 2005Q2 2005Q3 2005Q4 2006Q1 2006Q2 2006Q3 2006Q4 2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3

6 decrease for multifamily properties, and a 29 percent decrease for hotel properties from the second quarter Among investor types, between the second and third quarter of 2015, the dollar volume of loans for CMBS increased 22 percent, loans for life insurance companies increased 13 percent, originations for commercial bank portfolios increased nine percent, and loans for GSEs decreased by 28 percent. To view the report, please visit the following Web link: /3Q15CMFOriginationsSurvey.pdf Detailed statistics on the size and scope of the commercial/multifamily origination market are available from these MBA commercial/multifamily research reports. Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation, 2014 Commercial Real Estate/Multifamily Finance Firms: Annual Origination Volumes, 2014 Annual Report on Multifamily Lending, 2014 Commercial/Multifamily Database Subscription

7 Commercial/Multifamily Mortgage Bankers Originations Index By Investor Group Origination Volume Index (2001 Avg Qtr = 100) Q1 Q2 Q3 Q4 Yearoveryear Q3 Percent Change, Q2-to- Q3 YTD-YTD TOTAL % 15% 15% % 10% 98% % -17% 15% % 0% 14% % 18% 5% % 3% 27% CMBS/Conduits % 43% 413% % -48% 366% % -55% 7% % 8% 44% % 10% 28% % 22% 9% Commercial Banks % -27% -24% % 55% 196% % 6% 44% % 32% 22% % -7% 14% % 9% 49% Life Insurance Companies % 20% 146% % 3% 82% % -37% -6% % -6% 19% % 9% -1% % 13% 25% Fannie Mae/Freddie Mac % 42% -41% % 32% 54% % 14% 39% % -37% -3% % 57% 3% % -28% 85%

8 Commercial/Multifamily Mortgage Bankers Originations Index By Property Type Origination Volume Index (2001 Avg Qtr = 100) Q1 Q2 Q3 Q4 Yearoveryear Q3 Percent Change, Q2-to- Q3 YTD-YTD Multifamily % 50% 1% % -2% 77% % 7% 30% % -16% 20% % 31% 4% % -8% 41% Office Retail % -18% 69% % 8% 78% % -29% -7% % 21% 20% % 43% 6% % 37% 27% % 12% 24% % 37% 96% % -43% 24% % -14% -7% % 7% -6% % 27% 23% Industrial % 18% 74% % -14% 42% % 8% -7% % 16% 4% % 19% 29% % -1% 91% Hotel % -54% -8% % 4% 249% % -12% 8% % 25% 25% % -11% 27% % -29% 14% Health Care % 84% -63% % 161% 51% % 33% 33% % 0% 19% % 78% -2% % 5% -31%

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10 Purchase ground-breaking, comprehensive mortgage origination information. Commercial Real Estate / Multifamily Finance Database Annual Subscription Member $4,250 / nonmember $6,500 Commercial / Multifamily Annual Origination Volumes Rankings All Firms (member $250 / nonmember $350) Commercial / Multifamily Annual Origination Volume Summation Member $150 / nonmember $250 Annual Report On Multifamily Lending Member $150 / nonmember $250 To purchase these products please visit: and view under Market and Research Data. To subscribe, order or participate, call (800) , or visit mba.org/research