Commercial, multifamily loan originations set record in 2004

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Commercial and multifamily mortgage bankers' loan originations set a record during 2004, according to the Mortgage Bankers Association. The $136 billion in loan originations reported for 2004 were up by 16 percent from the $117 billion reported in 2003. MBA also reported that loan originations in the fourth quarter were the highest ever recorded in MBA's quarterly survey. The fourth quarter total of $42.7 billion was $7.1 billion above third quarter 2004 volume and $3.8 billion above fourth quarter 2003 volume. "The continued availability of capital from lenders and demand from borrowers combined to produce new record loan originations in 2004," said Douglas G. Duncan, MBA chief economist and senior vice president, research and business development. "With commercial property values strong, interest rates low, the economy growing, and real estate markets starting to improve, 2005 looks to produce more of the same." The increase in commercial/multifamily lending activity during 2004 ...