Data on the financing of the multifamily housing industryin 2010 depict a market that is both dominated by largeinstitutions but also with room for credit unions and other smaller lenders to growtheir business.
|According to the Mortgage Bankers Association, a housing financetrade association that includes credit unions, lenders provided almost $70billion to finance multifamily housing development in 2010.
|This was a 31% increase over the amount lent in 2009, theassociation said, before reporting that a mere five lendersaccounted for 51% of the market: Wells Fargo, CBRE Capital MarketsInc., Berkadia Commercial Mortgage LLC, PNC Real Estate andPrudential Mortgage Capital Company.
|The remaining 49% of the market was served by other lenders, 75%of which made fewer than five multifamily development loans peryear, the MBA added.
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