PROPERTY OWNERS AND MANAGERS SURVEY
                      MULTI FAMILY PROPERTIES:  ORIGIN OF CURRENT FIRST MORTGAGE
                                      TABLE 93
    
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    !                     !          !          TYPE OF MULTI FAMILY PROPERTY                   !
    !                     !          !__________________________________________________________!
    !                     !  TOTAL   !         !        !        !         !          ! 50 OR   !
    !                     ! UNITED   !         ! 3 TO 4 ! 5 TO 9 ! 10 TO 19! 20 TO 49 ! MORE    !
    !                     ! STATES   ! 2 UNITS ! UNITS  ! UNITS  !  UNITS  !  UNITS   ! UNITS   !
    !___________________________________________________________________________________________!
    !TOTAL UNITED STATES  ! 20584822 ! 3084750 !2471070 !1894445 ! 1467786 !  2223786 ! 9442986 !
    !___________________________________________________________________________________________!
    !ORIGIN OF CURRENT    !          !         !        !        !         !          !         !
    !FIRST MORTGAGE       !          !         !        !        !         !          !         !
    !_____________________!          !         !        !        !         !          !         !
    !MORTGAGED*           ! 16916069 ! 1991573 !1726120 !1347698 ! 1134121 !  1920745 ! 8795812 !
    !___________________________________________________________________________________________!
    ! MADE OR ASSUMED AT  !  6462904 ! 1087892 ! 847888 ! 661843 !  472822 !   771838 ! 2620621 !
    ! TIME OF ACQUISITION !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! REFINANCING OF      !  2663268 !  339892 ! 427739 ! 238830 !  141795 !   333821 ! 1181191 !
    ! PREVIOUS LOAN       !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! MORTGAGE PLACED ON  !   522357 !   89325 !  29486 !  30855 !   20710 !    39495 !  312486 !
    ! PROPERTY OWNED FREE !          !         !        !        !         !          !         !
    ! AND CLEAR           !          !         !        !        !         !          !         !
    !___________________________________________________________________________________________!
    ! NOT REPORTED*       !  7267543 !  474464 ! 421007 ! 416172 !  498796 !   775591 ! 4681513 !
    !___________________________________________________________________________________________!
    !NOT MORTGAGED        !  3668750 ! 1093177 ! 744951 ! 546745 !  333663 !   303040 !  647174 !
    !___________________________________________________________________________________________!
    
     *NOTE: Includes not reported on mortgage status