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by CareyBot

The level of commercial/multifamily mortgage debt outstanding grew by 2.5 percent in the first quarter, exceeding $3 trillion for the first time, according to the Mortgage Bankers Association analysis of the Federal Reserve Board Flow of Funds data. The $3.001 trillion in commercial/multifamily mortgage debt outstanding recorded by the Federal Reserve was an increase of $72.4 billion from the fourth quarter of 2006. Multifamily mortgage debt outstanding grew to $741 billion, an increase of $11.8 billion, or 1.6 percent, from the second quarter. "Issuers of commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO) and other asset-backed securities (ABS) were responsible for almost 60 percent of the increase in commercial/multifamily mortgage debt outstan...