According to a survey by the Mortgage Bankers Association, commercial mortgage originations jumped 55% in 2011 to a total of $184.3 billion, up from $118.8 billion of loans the year before and up 124% above 2009’s volume. This means that lenders are starting to inject liquidity back into the commercial real estate market. But it's still well off the record $508 billion of originations in the market's peak year of 2007. Much of the liquidity in the commercial mortgage industry last year was driven by the housing-finance agencies - Fannie Mae, Freddie Mac and the Department of Housing and Urban Development - which funded a total of $57.6 billion, or 31.3% of all loans. Life-insurance companies originated $49.3 billion, or 26.8 percent, and banks and thrifts originated $32.2 billion, or 17.5 percent. CMBS lenders funded $22.4 billion. The
remaining loans were funded by either REITs or other investor types.
remaining loans were funded by either REITs or other investor types.