WASHINGTON Midland Loan Services of Kansas City was the leading commercial mortgage-backed securities servicer at the end of the first half of 2001, with a CMBS servicing portfolio of $45.1 billion, according to a survey released last week by the Mortgage Bankers Association.
First Union Securities in Charlotte, N.C., was second, with a CMBS servicing portfolio of $38.6 billion, followed by ORIX Real Estate Capital Markets in Secaucus, N.J., with $29.6 billion.
Of the nine firms participating in the MBA survey, Midland also had the largest total master and primary servicing portfolio with $62.3 billion, followed by CapMark Services, a unit of Lend Lease Real Estate Investments in New York, with $46.1 billion.
First Union Securities was third in total master and primary servicing with a volume of $42.0 billion. GMAC Commercial Mortgage Corporation, a unit of General Motors Corp. in Detroit, elected not to participate in the MBA survey, but has publicly reported its total servicing portfolio at $107.7 billion.