Multifamily lenders originated a total of $288.7 billion in new mortgages for multifamily properties with five or more units, according to the Mortgage Bankers Association’s (MBA) annual report of the multifamily lending market. The lending volume, generated by 2,463 different lenders, represents a 17% percent increase from 2023 levels, although 53% of the active lenders made five or fewer multifamily loans over the course of 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 VP 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 JPMorgan Chase & Co., Walker & Dunlop, Berkadia, Wells Fargo and CBRE.
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