Louisville Real Estate News

Wachovia Tops the List of Commercial Lenders
Wachovia, with $233.2 billion in master and primary loan servicing, topped the Mortgage Bankers Association list of commercial and multifamily loan servicers for 2005.

The MBA released the list Tuesday at its annual meeting in Orlando, Fla. Rounding out the big four are GMAC Commercial Holding Corp with $231.5 billion, Midland Loan Services Inc. with $159 billion, and Wells Fargo with $95.5 billion.

A primary servicer is generally responsible for collecting loan payments from borrowers, while a master servicer typically collects cash and data from primary servicers and turns it over to investors.

Wachovia ranks as the top servicer of commercial bank and savings institution loans; Midland the top credit company, pension funds, real estate investment trusts, and investment funds servicer; Wachovia is tops for warehouse loans; and GMAC leads the pack in other investor-type loans.

Prudential Asset Resources, GMAC, NorthMarq Capital, and Q10 Capital are the largest servicers for life companies; Deutsche Bank Mortgage Services, Washington Mutual, GMAC, and ARCS Commercial Mortgage are the largest Fannie Mae/Freddie Mac servicers; GMAC, Prudential, Reilly Mortgage Group, Capstone Realty Advisors, and Midland are the largest FHA servicers.