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US bank multifamily loans rise 6% YOY in Q2'19

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US bank multifamily loans rise 6% YOY in Q2'19

Multifamily loans at U.S. banks and thrifts rose 2.1% quarter over quarter to $444.89 billion in the second quarter, representing a 6.2% year-over-year increase.

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Delinquent loans accounted for 0.22% of total multifamily loans in the second quarter, down 1 basis point from the linked and year-ago quarters.

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Of the nation's 25 largest multifamily lenders, 17 reported an increase in multifamily loans during the quarter. JPMorgan Chase & Co., the banking industry's largest multifamily lender, reported $72.07 billion in multifamily loans at the end of the quarter, a 1.0% increase from the first quarter and a 1.7% increase from the prior-year quarter.

New York Community Bancorp Inc. had the second-highest amount of multifamily loans, with $30.49 billion at the close of the quarter. New rent regulations in New York City and parts of several surrounding counties, which are likely to squeeze margins for multifamily lenders by limiting landlords' ability to raise rents in stabilized housing, could benefit the bank by allowing it to step in and grow its loan portfolio if others exit the market.

M&T Bank Corp., the 15th-largest multifamily lender in the U.S., reported that 0.86% of its multifamily loans were delinquent or in nonaccrual status at the end of June, the highest delinquency ratio among the top 25 lenders despite a 79-basis-point year-over-year improvement.

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Click here to access data on the 25 largest multifamily lenders as of June 30, 2019.