Lenders expect conduit loan volume to climb as the year continues. However, the market's comeback in the multifamily world isn't expected to reach boom-era levels, at least not in 2013.
Between the third and fourth quarters of 2012, commercial mortgage-backed securities (CMBS) loan volume grew 141 percent, according to a Mortgage Bankers Association report. And with each passing month, more and more CMBS loans are made for apartments: Lenders are reporting a growing pipeline in the first quarter.
Most of the progress and gain for conduits comes from swooping in on deals the government-sponsored enterprises (GSEs) and life companies don’t necessarily want to fight for. And it’s paying off.
Read more...Conduit Lending Gains Momentum - Finance - Multifamily Executive Magazine