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GMACCM Remains on Top.(GMAC Commercial Mortgage Corp)

Mortgage Servicing News

| March 01, 2003 | Sichelman, Lew | COPYRIGHT 2003 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

GMAC Commercial Mortgage Corp., Horsham, Pa., tops the Mortgage Bankers Association's annual ranking of commercial loan servicers.

At the end of 2002, GMAC was administering nearly $133.8 billion in master and primary servicing, or $50.2 billion more than runner-up Wachovia Securities, Charlotte, N.C., which handled $83.6 billion.

In terms of loans, GMAC services nearly 50,900 mortgages, almost three times as many as the 13,876 loans handled by Wachovia, according to the MBA's tally.

In contrast, GMAC administers nearly 134,000 commercial loans. Midland Loan Services, Overland Park, Kan., handles almost as many loans, 13,634, as the North Carolina servicer. But by volume, it ranks third on the list at just under $74.1 billion.

In fourth place is CapMark Services, Atlanta, with 7,050 loans and $66.2 billion in servicing.

The yearly count was released here last week at the MBA's annual Commercial Real Estate Finance/Multi-Family Housing Convention.

By gender, GMAC, CapMark, GEMSA Loan Services, Houston, and Prudential Asset Resources, Dallas, are the largest services for life companies and other private investors.

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