Multifamily and Commercial Loan Originations Plunge 80 Percent

" Commercial and multifamily mortgage loan originations were no exception to the falling trend seen in single-family home originations over the past year. Fourth-quarter 2008 originations for commercial and multifamily mortgages were a whopping 80 percent lower than the same period the prior year, according to a quarterly survey released Tuesday by the Mortgage Bankers Association. And that year-over-year decrease was seen across all property types and investor groups."