MBA names top commercial mortgage servicers
Feb 5, 2002 12:00 PM, Matt Valley
ORLANDO — Midland Loan Services was the top overall commercial mortgage servicer in 2001, narrowly edging out CapMark Services, according to an annual survey released by the Mortgage Bankers Association of America during the group's annual Commercial Real Estate Finance/Multifamily Housing Convention. Midland's servicing portfolio totaled $68 billion while CapMark's reached $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 during the convention held Feb. 3-6 at the Walt Disney World Dolphin Hotel in Lake Buena Vista, Fla.
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 billion and Principal with $10.6 billion.
The largest CMBS servicers were Midland with $51.3 billion, Wachovia with $45 billion, CapMark with $31.7 billion, ORIX with $30.4 billion and Wells Fargo with $22.6 billion.
Berkshire Mortgage Finance Group was the largest servicer of loans for Fannie Mae and Freddie Mac with a servicing portfolio of $12.4 billion. Following Berkshire were ARCS 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.
GMAC Commercial Mortgage, which 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 compared with 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.
— Matthew Valley
