Commercial, multifamily loan originations drop

Industrial sector also takes hit in third quarter, MBA says

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Commercial and multifamily mortgage bankers' loan originations in the third quarter were 6 percent lower than during the same quarter last year, led by declines in loans for conduits, life insurance companies and credit companies, according to the Mortgage Bankers Association. Despite the annual slowing, third-quarter loan originations were up compared to the second quarter of 2006, and year-to-date originations through the third quarter of 2006 remain higher than at the same time last year. "Mortgage bankers' commercial/multifamily origination activity is down compared to last year's third quarter, but origination levels remain extremely strong," said Jamie Woodwell, MBA senior director of commercial/multifamily research. "We continue to see strong capital flows, improving property fundamentals and very strong loan performance." The decrease in commercial/multifamily lending activity during the third quarter was across nearly all property types. The decrease over the third quarter...