Fundings Fall at Commercial Company

PW Funding originates $107.9 million during 3rd quarter
By MortgageDaily.com staff
11/12/2003

Third quarter loan volume slumped at PW Funding Inc.

PW originated $107.9 million in loans, announced parent company CharterMac, falling from the second quarter's $171.7 million. In the third quarter of 2002, fundings totaled $99.1 million.

Year-to-date fundings for PW, which says it originates, funds and services multifamily and senior loans, reportedly decreased to $407.8 million, compared to $438.4 million in the same period last year.

Loans serviced at PW totaled $3.9 billion at the third quarter's end, said CharterMac. The total remained unchanged from that reported in the prior quarter.

CharterMac also announced that during the third quarter it "invested in approximately $117.4 million of tax-exempt and taxable revenue bonds secured by over 2,700 units of affordable multifamily housing." The housing units were located in eight different states including California, Texas and Florida.

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