KANSAS CITY, MO-In a merger that blends leaders in commercialloan servicing and mortgage technology, Midland Loan Services Inc.has joined forces with Univest Financial Group LLC. Midland LoanServices Inc. is a wholly owned subsidiary of The PNC FinancialServices group. Univest Financial Group is a privately heldprovider of technology and date management services. The companywill operate under the Midland name. Terms of the merger were notdisclosed.
Midland has a loan servicing portfolio of approximately $50billion. It is a leading provider of web-enabled loan servicing andasset administration solutions for commercial real estate portfoliolenders, financial institutions and commercial mortgage-backedsecurities issuers. Midland has the highest servicer and specialservicer ratings from Fitch IBCA, Duff & Phelps and Standard& Poor's.
Univest is the first company to offer a browser-based,Web-enabled solution for commercial loan servicing–the EnterpriseLoan Management System. With the addition of Univest, Midland LoanServices expects to offer a full range of commercial mortgageservicing solutions, from the licensing of servicing technology tooutsourcing commercial loan servicing.
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