With demand for apartments at an all-time high, the banks and other lenders are expecting a very strong 2016 when it comes to multifamily and other commercial loans.
World Property Journal reports a¬†new Mortgage Bankers Association survey of top firms reveals an overall confidence in these expected increases, with 50 percent of banks and lenders looking forward to a growth of five percent or more in the number of multifamily loans they will distribute this year.
The survey also reveals lenders are eager to make loans for new apartment construction, and originators expect a very strong market going into 2016.
All this as EagleBank announces the launch of a new FHA multifamily lending division, Nasdaq.com reports.
The Bethesda, Maryland-based bank says they have hired four new lenders with extensive leadership and expertise in FHA loans.