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Washington -- The level of commercial and multifamily mortgage debt outstanding grew by 1.8% in the first quarter to $3.4 trillion, according to the Mortgage Bankers Association. The $3.4 trillion was an increase of $60.8 billion from the fourth quarter of 2007. Multifamily mortgage debt outstanding grew to $856 billion, an increase of $18.5 billion, or 2.2%, from the fourth quarter. "Investors continue to increase their holdings of commercial/multifamily mortgages," said Jamie Woodwell, MBA's senior director of commercial/multifamily research.
"The global credit crunch meant a net decline in the balance of mortgages held in CMBS, CDO and other ABS, but banks, thrifts, life insurance companies, Fannie Mae, Freddie Mac and nearly every other investor ...
Source: HighBeam Research, Growth of CRE Debt Slows in 1Q.(Brief article)