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by CareyBot

The level of commercial/multifamily mortgage debt outstanding grew by 1.8 percent in the first quarter, to $3.4 trillion, according to the Mortgage Bankers Association (MBA) analysis of the Federal Reserve Board Flow of Funds data. The first-quarter load of mortgage debt outstanding represented an increase of $60.8 billion from fourth-quarter 2007. Multifamily mortgage debt outstanding grew to $856 billion, an increase of $18.5 billion, or 2.2 percent, from the fourth quarter. "Investors continue to increase their holdings of commercial/multifamily mortgages," said Jamie Woodwell, MBA's senior director of commercial/multifamily research, in a statement. "The global credit crunch meant a net decline in the balance of mortgages held in CMBS, CDO and other ABS, but...