GMAC Commercial Still Largest CRE Servicer.(GMAC Commercial Holding Corp.)

A midyear ranking of top commercial mortgage servicers by the Mortgage Bankers Association shows GMAC Commercial Holding continuing to head up the list, with a total servicing portfolio of $219.71 billion.

No. 2 on the list - which takes into account the total of primary and master servicing in all servicing areas including commercial mortgage-backed securities servicing and life servicing - for the period ending June 30 is Wachovia with a $203.01 billion portfolio, followed by Midland Loan Services ($142.57 billion), GEMSA Loan Services ($68.42 billion), Bank of America ($59.24 billion); Wells Fargo Commercial Mortgage Servicing ($57.47 billion), Prudential Asset Resources ($43.89 billion), KeyBank REC ($39.53 billion), Washington Mutual Bank ($35.82 billion) and NorthMarq Capital ($27.32 billion).

Almost all the top servicers have added to their portfolios since the MBA's December 2004 ranking.

However, Prudential Asset Resources has seen its portfolio decline from about $44 billion to about $43 billion over this period. As well, Orix has been displaced from its No. 10 ranking and is at No. 11 for the latest period, with its portfolio down to about $26 billion, from about $28 billion for the previous period.

The MBA survey only takes into account servicers with a total of at least $1 billion in master, primary or special servicing on CMBS loans.

Ranked solely on the basis of CMBS primary and master servicing volume, Wachovia heads up the list with $132.78 billion, with GMACCH next at $118.85 billion. For the period ending December 2004, Wachovia had a $117.56 CMBS master and primary servicing portfolio and was ahead of GMACCH, whose portfolio was then at $111.49 billion, even at that time. Asked about their growth, Alan Kronovet, managing director and head of Wachovia's servicing group, told Commercial Servicer that Wachovia has been ...