What You Need to Know
- The value of mortgages on retail properties fell 2.2%.
- Multifamily housing holdings grew 6%.
- Life insurers accounted for about 15% of commercial and multfamily mortgage originations earlier this year.
U.S. insurers ended up with 4% more exposure to mortgage loans at the end of 2020 than they had a year earlier.
The mortgage lending total increased to $626 billion from $602 billion, according to a new report from the Capital Markets Bureau, a division of the National Association of Insurance Commissioners.
Life insurers accounted for $601 billion of the 2020 total.
Life insurers were responsible for 15% of the U.S. commercial and multifamily mortgage loan value outstanding at the end of the first quarter of this year, according to Mortgage Bankers Association data cited by the NAIC analysts.