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by CareyBot

The recent credit crunch and other market disruptions led to a drop in commercial and multifamily loan originations in the third quarter, the Mortgage Bankers Association announced today in a quarterly survey. Total third-quarter commercial/multifamily mortgage originations fell 4 percent from the same quarter in 2006, led by a drop in commercial mortgage-backed security (CMBS) conduit loans and commercial bank loans, MBA reported. "The on-going credit crunch slowed the volume of commercial/multifamily mortgage originations in the third quarter," said Jamie Woodwell, MBA's senior director of commercial/multifamily research. "Originations for CMBS fell 28 percent from the same quarter last year, and two-thirds from the second quarter of 2007. Originations for life companies, the g...