MBA: 2017 Commercial/Multifamily Loan Maturities Down

SAN DIEGO–The Mortgage Bankers Association reported $175.9 billion of the $1.7 trillion of outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2017, representing nearly 10 percent of all outstanding mortgages.

MBA released the report here at its Commercial Real Estate Finance/Multifamily Housing Convention & Expo.

This represents a 4 percent decrease from $183.3 billion that matured in 2016, MBA reported in its 2016 Commercial Real Estate/Multifamily Survey of Loan Maturity Volumes.

“This year marks the end of the so-called ‘wall’ of commercial and multifamily mortgage maturities stemming from the ten-year loans made in 2006 and 2007,” said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. “As those loans have paid off and paid down, we’ve seen the amount left getting smaller, to the point that we have less in maturities this year than we did in either 2016 or 2010.”

Loan maturities vary significantly by investor group. Just $12.1 billion (2 percent) of the outstanding balance of multifamily and health care mortgages held or guaranteed by Fannie Mae, Freddie Mac, FHA and Ginnie Mae will mature in 2017. Life insurance companies will see $23.1 billion (5 percent) of their outstanding mortgage balances mature in 2017. Among loans held in commercial mortgage-backed securities, $104.4 billion (20 percent) will come due in 2017. Among commercial mortgages held by credit companies and other investors, $36.3 billion (22 percent) will mature in 2017.

The dollar figures reported are the unpaid principle balances as of December 31, 2016. Because most loans pay down principle, balances at the time of maturity will generally be lower than those reported here.

This survey covers $1.68 trillion of commercial and multifamily mortgages held or insured by life companies, Fannie Mae, Freddie Mac, FHA, CMBS trusts and other non-bank lenders and investors. Banks and thrifts hold an additional $1.2 trillion in mortgages backed by income-producing properties which are not covered by this survey.

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