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Midland Added $13 Billion to CMBS.(Brief Article)(Statistical Data Included)

Mortgage Servicing News

| June 01, 2001 | COPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Midland Loan Services, a PNC Real Estate Finance Company, earned the servicing rights to seven commercial mortgage-backed securities transactions totaling $5.4 billion in the fourth quarter of 2000, the company has reported.

For the whole of 2000, Midland was named master servicer for 18 CMBS transactions totaling $13 billion and special servicer for 6 CMBS transactions totaling $4.25 billion, according to the company.

The fourth quarter rally helped Midland rise to the top spot in the Mortgage Bankers Association of America's year-end 2000 rankings of CMBS servicers, with a total CMBS servicing portfolio of $44.7 billion, up 32% from 1999, the company said.

Some of the CMBS transactions for which Midland was selected as master servicer in the fourth quarter are:

* Lehman Brothers Commercial Mortgage Trust 2000-LLF C7 - a $1.5 billion transaction, secured by a pool of 21 floating-rate loans backed by properties in 13 states and the U.S. Virgin Islands.

* Salomon Brothers Commercial Mortgage Trust 2000 C3 - a $915 million transaction, secured by a pool of 180 mortgage loans. The ...

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