Hey you can own some of the number two commercial lender for a buck and a quarter. Go figure. I figure it has got to be worth more than this. I will wait until someone else thinks so too.
Good Luck
Thurston
P.S. Anyone have the detail on earnings yet?
Monday February 7, 3:51 pm Eastern Time
GM unit ranked top US commercial mortgage firm-MBA
NEW YORK, Feb 7 (Reuters) - General Motors Corp.'s (NYSE:GM - news) GMAC Commercial Mortgage Corp., with a
$78.2 billion loan portfolio, was ranked the top U.S. commercial/multifamily loan servicer, the Mortgage Bankers Association of
America (MBA) said Monday.
In MBA's annual ranking of 143 commercial mortgage firms, AMRESCO Inc. (NasdaqNM:AMMB - news), with a $46.9 billion
servicing portfolio, placed second behind GMAC. Midland Loan Services Inc., a subsidiary of PNC Bank Corp. (NYSE:PNC - news) with $45.4 billion, was
placed third.
The firms in the survey provide servicing on loans for third-party investors -- including life insurers, banks, thrifts, pension funds, federal agencies and commercial
mortgage-backed securities.
According to MBA, 115 of the firms in the survey, or 83 percent, showed higher commercial/multifamily mortgage servicing volume in 1999. The median increase in
servicing was 12.7 percent.
Ten firms reported servicing portfolios of $10 billion or more last year, down from 11 in 1998, MBA said.
The servicing volume of the surveyed firms totaled about $500 billion, roughly a third of the commercial/multifamily mortgage debt outstanding at the end of 1999. |
