Commercial and multifamily first-quarter originations were 9% higher than the same period last year, the Mortgage Bankers Association said Tuesday.

“The overall number masks larger increases in the dollar volume of loans originated for commercial mortgage-backed securities and Fannie Mae and Freddie Mac and a decline in the amount originated for life insurance company portfolios,” said Jamie Woodwell, MBA’s vice president of commercial real estate research.

The hike follows an increase in originations for hotel and multifamily properties, the industry trade group said. 

Additionally, following the traditional seasonal trend, first-quarter originations are 36% lower compared to the fourth quarter of 2012. 

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