Sunday, November 20, 2016

Manhattan Mortgage Lenders

Welcome to the first of an occasional series of articles about the Manhattan real estate market.  Most data is from the NYC ACRIS database.

In this first article we look at the overall market in terms of mortgage origination by lender by year.  As the chart indicates, this year, same as 2015, the market is likely to be 3 times what it was at its last peak in 2007.

Major lenders are mainly the same with some shuffling; B of A was the largest lender in 2007 but has been replaced by Wells and JPM.  Signature Bank has come from nowhere to take a significant proportion of lending in 2015 and 2016.  Citibank was a big lender in 2010, and Capital One in 2012 but neither has increased lending recently.

Which banks have the most exposure?  What is the average LTV?  Who does more refis or purchases?  More to come...