#CREF2020: PNC, Wells Fargo Lead MBA 2019 Year-End Commercial/Multifamily Servicer Rankings

SAN DIEGO–The Mortgage Bankers Association released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31, here at the MBA 2020 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.

At the top of the list of firms is PNC Real Estate/Midland Loan Services, with $702 billion in master and primary servicing, followed by Wells Fargo Bank N.A. ($700 billion), KeyBank N.A. ($306 billion), Berkadia Commercial Mortgage LLC ($280 billion), and CBRE Loan Services ($228 billion).

In other categories among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties:

–Wells Fargo, PNC/Midland and KeyBank are largest primary and master servicers for commercial mortgage-backed securities, collateral debt obligations or other asset-backed securities loans;

–PGIM Real Estate Finance is the largest servicer for credit company, pension funds, real estate investment trusts and investment fund loans;

–Wells Fargo, Walker & Dunlop and Berkadia are largest servicers of Fannie Mae loans;

–Wells Fargo, KeyBank and PNC are largest servicers of Freddie Mac loans;

–Orix Real Estate Capital, Walker & Dunlop and Berkadia are largest servicers of FHA and Ginnie Mae loans;

–JLL, NorthMarq Capita, and CBRE are largest servicers of life insurance company loans;

–Wells Fargo are largest servicers of loans held in warehouse;

–PNC, Wells Fargo and CWCapital Asset Management LLC are the largest named special servicers;

–Wells Fargo, PNC and PGIM Real Estate Finance are the top servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties;

–PNC, Berkadia and SitusAMC are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties;

–Wells Fargo, Trimont Real Estate Advisors and KeyBank rank as the top master and primary servicers of other types of commercial real estate-related assets located in the U.S.; and

–Situs, CBRE and Mount Street are the top primary and master servicers of non-U.S. CRE-related assets.

A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections and other property-related activities. A master servicer is typically responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors. Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles. The tabulations can and do double-count across servicers’ loans for which multiple servicers each fulfill a role.

Specific breakouts in MBA’s 2019 Commercial/Multifamily Servicer Rankings survey include:

• Total Primary and Master Servicing;

• U.S. Mortgaged, Income-Producing Properties, Loans Held in Own Portfolio, Total;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Total

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, CMBS, CDO or other ABS loans;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Commercial Bank and Savings Institution Loans;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Credit Company, Pension Funds, REITs and Investment Funds Loans;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Fannie Mae;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Freddie Mac;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Federal Housing Administration and Ginnie Mae;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Life Insurance Companies;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Loans Held in Warehouse;

• U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Named Special; Total;

• U.S. Mortgaged, Income-Producing Properties, Other Fee-For-Service, Primary and Master; Total;

• U.S. Other CRE-Related Assets, Primary and Master, Total; and

• Non-U.S. Total, Primary and Master, Total.

The report includes a ranking of more than 100 master and primary servicers. You can download the full report at: www.mba.org/documents/research/YE19ServicerRanking.pdf.