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Lenders One, StreetLinks enter new partnership

National Mortgage Professional
Feb 10, 2009

Wachovia, PNC/Midland, Capmark and Wells Fargo lead national rankings of commercial/multifamily servicing volumesMortgagePress.comWachovia, PNC/Midland, Capmark, Wells Fargo, servicing volumes, Mortgage Bankers Association The Mortgage Bankers Association has released its annual ranking of commercial and multifamily loan servicers as of the end of 2008 during MBA's Commercial Real Estate (CREF) Convention. On top of the list of firms is Wachovia Securities with $412.9 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $310.3 billion, Capmark Finance, Inc. with $260.9 billion and Wells Fargo with $182.6 billion. Specific breakouts included in the report: • Total U.S. Master and Primary Servicing Volume • U.S. Commercial Mortgage-backed Securities (CMBS), Collateralized Debt Obligations (CDOs) and Other Asset-Backed Securities (ABS) Master and Primary Servicing Volume U.S. Life Company Servicing Volume • Fannie Mae and Freddie Mac Servicing Volume • Federal Housing Administration (FHA) Servicing Volume • U.S. Commercial Banks and Savings Institution Volume • U.S. Credit Company, Pension Funds, REITs, and Investment Funds Volume • U.S. Warehouse Volume • U.S. Other Investor Volume • U.S. CMBS Named Special Servicing Volume • Total Non-U.S. Master and Primary Servicing Volume A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections and other property-related activities. A master servicer typically serves in a fiduciary capacity and is generally responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors. Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles. Wachovia, PNC/Midland, Capmark, and Wells Fargo are the largest master and primary servicers of commercial/multifamily loans in U.S. CMBS, CDO and other ABS; GEMSA Loan Services, PNC/Midland, Prudential Asset Resources, and Northwestern Mutual are the largest servicers for life companies; PNC/Midland, Wachovia, Capmark, and Deutsche Bank are the largest Fannie Mae/Freddie Mac servicers. Wachovia ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top credit company, pension funds, REITs, and investment funds servicer; PNC/Midland the top FHA and Ginnie Mae servicer; Wachovia the top for mortgages in warehouse facilities; and Capmark the top for other investor type loans. MBA also asked firms to provide information about CMBS loans on which they are the "named special servicer" - that is, where the firm stands ready to service the loan should special problems develop, such as delinquency. The leading named special servicers were LNR Partners, CWCapital & CWCapital Asset Management, Centerline Servicing Inc and PNC/Midland. The MBA survey also collected servicing volumes for loans on commercial/multifamily properties located outside the United States. Capmark ranks as the largest master and primary servicer of non-U.S. commercial/multifamily mortgages, followed by Hatfield Philips International, Deutsche Bank and GEMSA Loan Services. For more information, visit www.mortgagebankers.org.
Published
Feb 10, 2009
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