| GMAC Top Commercial Servicer
2002 servicing volume $133.8 billion February 6, 2003 By MortgageDaily.com staff |
| The Mortgage Bankers Association of America (MBA) released its ranking of multifamily and commercial loan servicers for 2002, with the top company returning to dominate leagues above its nearest competitor.
GMAC Commercial Mortgage Corporation took that top spot with master and primary servicing of almost $133.8 billion and more than 50,000 loans. GMAC shadowed the almost 14,000 loans and $83.6 billion in servicing of Wachovia Securities, who held the No. 2 ranking. In 2001’s survey, Midland Loan Services was the top overall commercial mortgage servicer, whose servicing portfolio totaled $68.0 billion at the time. CapMark Services, L.P. was No. 2. GMAC did not participate in the 2001 survey, according to the MBA. It did participate in the 2000 survey, where it took the top spot then as well. Rounding out 2002’s top five of 111 firms, Midland came in third with almost $74.1 billion in servicing; CapMark serviced $66.1 billion; and the No. 5 GEMSA Loan Services, L.P. serviced almost $58.9 billion. Rankings six through 10, respectively, were ORIX Capital Markets, LLC; Prudential Asset Resources; Wells Fargo Commercial Mortgage Servicing; Washington Mutual Bank, FA; and Bank of America, N.A. GMAC, GEMSA, CapMark, and Prudential Asset Resources were the largest servicers for life companies and other private investors by 2002’s end. The largest Fannie Mae and Freddie Mac servicers were ARCS Commercial Mortgage Co., L.P.; GMAC; and Prudential. ARCS came in at No. 17 on the general ranking list. GMAC, Reilly Mortgage Corporation, Prudential, Midland, and Greystone Servicing Corporation are the largest Federal Housing Administration servicers. On the general list, Reilly was at the No. 16 spot and Greystone was No. 22. MBA concluded its Commercial Real Estate Finance/Multifamily Housing Convention & Expo in San Diego, Calif., on Wednesday. |
