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**Multifamily Lending Volume Rises 17% Year-Over-Year**
Multifamily lenders originated a total of $288.7 billion in new mortgages for multifamily properties with five or more units in 2024, according to the Mortgage Bankers Association’s (MBA) annual report on the multifamily lending market. This marks a 17% increase compared to 2023, with loan activity coming from 2,463 different lenders.
Despite the increased volume, the lending landscape revealed a highly fragmented market — 53% of active lenders made five or fewer multifamily loans throughout the year.
“Following 2023’s low-volume year, multifamily lending picked up in 2024, with activity increasing across lenders of all sizes and capital sources,” said Reggie Booker, MBA’s Associate Vice President of Commercial Real Estate Research. “While the multifamily market is served by some of the largest institutions in the country, it remains broad and diverse, with more than half of lenders active in the space making only a handful of loans in a year.”
The top five multifamily lenders in 2024 by dollar volume were:
1. JPMorgan Chase & Co.
2. Walker & Dunlop
3. Berkadia
4. Wells Fargo
5. CBRE
This rise in lending activity reflects a rebounding interest in multifamily investment and increased confidence across the commercial real estate sector.
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