GMACCM Tops Commercial Servicer Ranking

GMAC Commercial Mortgage Corp., Horsham, Pa., tops the Mortgage Bankers Association of America's annual ranking of commercial loan servicers.At the end of 2002, GMAC was administering nearly $133.8 billion in master and primary servicing. Runner-up Wachovia Securities, Charlotte, N.C., handled $83.6 billion. In terms of loans, GMAC services nearly 50,900 mortgages, almost three times as many as the 13,876 loans handled by Wachovia, according to the MBA's tally, which was released at the group's annual Commercial Real Estate Finance/Multi-Family Housing Convention in San Diego. GMAC, GEMSA Loan Services, CapMark, and Prudential Asset Resources are the largest servicers for life companies and other private investors. The largest administrators of apartment loans by Fannie Mae and Freddie Mac are Berkshire Mortgage Finance, ARCS Commercial Mortgage, GMAC, and Prudential. GMAC, Reilly Mortgage, Prudential, Midland, and Greystone Servicing Corp. are the largest servicers of multifamily loans insured by the Federal Housing Administration.