MBA Lists Top Multifamily Loan Servicers for 2008 to Date

By Anuradha Kher, Online News EditorWashington, D.C.- Wachovia Securities, followed by Midland Loan Services/PNC Real Estate Finance and Capmark Financial Group Inc. are the top three commercial and multifamily loan servicers, according to a mid-year ranking report recently released by the Mortgage Bankers Association (MBA).As of the end of June 30, 2008, Wachovia Securities had $434.3 billion in U.S. master and primary servicing, while Midland Loan Services/PNC Real Estate Finance had $273.8 billion, Capmark Financial Group Inc. had $258.3 billion and Wells Fargo Bank had $179.5 billion.The report also found that Capmark ranks as the largest master and primary servicer of non-U.S. commercial/multifamily mortgages, followed by Hatfield Philips International, Deutsche Bank and Midland Loan Services/PNC Real Estate Finance.GEMSA Loan Services, Prudential Asset Resources, Midland Loan Services/PNC Real Estate Finance and NorthMarq Capital are the largest servicers for life companies and Midland/PNC, Wachovia, Deutsche Bank and Capmark are the largest Fannie Mae and Freddie Mac servicers, according to the report.Wachovia ranks as the top master and primary servicer of commercial bank and savings institution loans and GEMSA tops in the top credit company, pension funds, Real Estate Investment Trusts and Investment (REITS) funds servicer category. Capmark is the top Federal Housing Administration (FHA) and Ginnie Mae servicer; Wachovia the top for warehouse loans; and Capmark the top for other investor type loans.MBA also asked firms to provide information about Commercial Mortgage Backed Securities (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” are LNR Partners, CWCapital, Centerline Servicing Inc. and Midland/PNC