GMAC Tops Commercial Servicer Ranking
GMAC Commercial Mortgage still holds sway as the number one servicer of commercial mortgages by volume for the second quarter with a $172.3 billion portfolio (including servicing of commercial mortgage-backed securities, life company loans and others), according to the Mortgage Bankers Association's CMBS servicing survey.
Wachovia Securities come in next at $96.1 billion, followed by Midland Loan Services (78.8 billion), CapMark Services ($75.6 billion) and GEMSA Loan Services ($57.0 billion). The MBA survey only includes firms with at least $1 billion of total named servicing - primary, master and special - for CMBS loans.
Considering only CMBS servicing portfolios, the same list of servicers was at the top, with one sole exception.
GMAC was at the head of the list with a $103.9 billion portfolio, followed by Wachovia ($70.9 billion), Midland ($55.8 billlion), CapMark ($39.9 billion) and ORIX Capital Markets ($31.3 billion).
Wells Fargo was sixth on the list with a $30.0 billion portfolio, followed by GEMSA with a $18.5 billion portfolio.
Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com