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Midland and CapMark Top MBA Servicing Survey

Orlando, FL (February 4, 2001) - Midland Loan Services was the top overall commercial mortgage servicer as of the end of 2001, narrowly edging out CapMark Services, according to an annual survey released by the Mortgage Bankers Association of America (MBA). Midland's servicing portfolio totaled $68.0 billion while CapMark's was $64.4 billion.

Rounding out the top five servicers were GEMSA Loan Services, Wachovia Securities and ORIX Capital Markets with servicing portfolios of $54.5 billion, $48.1 billion and $37.6 billion respectively.

In addition to the overall listing, the MBA has broken out the servicer list by type of investor for the first time.

The largest servicers for life companies and other private institutional investors were GEMSA with $34.6 billion, CapMark with $28.2 billion, Prudential Asset Resources with $15.7 billion, Midland with $11.0 billion and Principal with $10.6 billion.

The largest CMBS servicers were Midland with $51.3 billion, Wachovia with $45.0 billion, CapMark with $31.7 billion, ORIX with $30.4 billion and Wells Fargo with $22.6 billion.

Berkshire Mortgage Finance was the largest servicer of loans for Fannie Mae and Freddie Mac with a servicing portfolio of $12.4 billion. Following Berkshire were ACRS Commercial Mortgage with $8.1 billion, Prudential Asset Resources with $4.8 billion, Capri Capital with $4.2 billion and Walker & Dunlop with $3.9 billion.

Reilly Mortgage Group was the top servicer of FHA loans with a servicing portfolio of $7.3 billion, followed by Prudential with $6.3 billion, Greystone Servicing with $2.5 billion, and Midland and Continental Wingate, both with $2.2 billion.

GMACCM, who had held the top spot as overall servicer in previous years, no longer participates in the MBA survey.

After adjusting for a certain amount of double counting for some CMBS loans, the total amount of CMBS servicing reported in this survey was approximately $219 billion, versus total CMBS outstanding of approximately $280 billion.

In contrast, life company servicing totaled $195 billion, Fannie and Freddie servicing $79 billion, and FHA servicing $30 billion.

A list of the servicing rankings are available on the MBA Web site at: www.mbaa.org.

MBA is the national association representing the real estate finance industry. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and to extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters excellence and technical know-how among real estate finance professionals through a wide range of educational programs and technical publications. Its membership of approximately 2,800 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, life insurance companies and others in the mortgage lending field. For additional information, visit MBA's Web site: www.mbaa.org.

Laura Armstrong

Tisha Richardson

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