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WASHINGTON, DC-The level of outstanding commercial/multifamily mortgage debt decreased by $10.4 billion, or 0.4%, according to the Mortgage Bankers Association. The driver in the decline was a drop in CMBS balances that more than offset the increases in holdings by Fannie Mae, Freddie Mac and FHA, banks and life insurance companies.

Last quarter there was also a decline in the total balance of loans for CMBS, Jamie Woodwell, MBA’s vice president of commercial real estate research, tells GlobeSt.com. However the increased holdings by banks, life companies and the GSEs offset it. Not this quarter. “More CMBS loans are being paid off and paid down and being liquidated.”

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