Wells Fargo, PNC/Midland Lead MBA 2019 Mid-Year Commercial/Multifamily Servicer Rankings

The Mortgage Bankers Association released its mid-year rankings of commercial and multifamily mortgage servicers’ volumes as of June 30, showing Wells Fargo Bank NA, PNC Real Estate/Midland Loan Services, KeyBank NA, Berkadia Commercial Mortgage LLC and CBRE Loan Services with highest volumes.

The report showed Wells Fargo with $681.8 billion in master and primary servicing in the first half of 2019, followed by PNC Real Estate/Midland Loan Services ($655.2 billion), KeyBank ($273.1 billion), Berkadia Commercial Mortgage ($268.4 billion) and CBRE Loan Services ($208.3 billion).

Other categories:

–Among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties, Wells Fargo, PNC/Midland and KeyBank led primary and master servicers for commercial mortgage-backed securities, collateral debt obligations or other asset-backed securities loans;

–PGIM Real Estate Finance led for credit company, pension funds, real estate investment trusts and investment fund loans;

–Wells Fargo, Walker & Dunlop and Berkadia led for Fannie Mae loans;

–Wells Fargo and KeyBank led for Freddie Mac loans;

–ORIX Real Estate Capital, Walker & Dunlop and Berkadia led for FHA & Ginnie Mae loans;

–HFF LP, NorthMarq and CBRE led for life insurance company loans;

–Wells Fargo led for loans held in warehouse.

–PNC and Wells Fargo are the largest named special servicers.

–Wells Fargo, PNC/Midland and MetLife led servicers for loans held in own portfolio;

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

–Wells Fargo and Trimont led master and primary servicers of other types of commercial real estate related assets located in the United States; and

–Situs and CBRE led primary and master servicers of non-US 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.

The report includes a ranking of more than 100 master and primary servicers. The full report can be downloaded at https://www.mba.org/documents/research/MY19ServicerRanking.pdf.