Commercial/multi-family business going strong

It’s hard to find anything positive to say about the residential real estate market. That’s not the case, though, with the commercial and multi-family side of the real estate industry.

According to a recent story by the Mortgage Bankers Association of America, which you can read here, the commercial/multi-family end of the mortgage-financing business grew 19 percent in 2007. Mortgage bankers closed $507.7 billion worth of commercial/multi-family loans during this time.

This side of the lending business saw this big gain even with the credit crunch hitting the real estate business in the middle of 2007.