#MBACREF23: PNC, Wells Fargo Lead MBA 2022 Year-End Commercial/Multifamily Servicer Rankings

SAN DIEGO–The Mortgage Bankers Association on Monday released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31, 2022.

At the top of the list of firms is PNC Real Estate/Midland Loan Services, with $732 billion in master and primary servicing, followed by Wells Fargo Bank, N.A., ($722 billion), KeyBank National Association ($451 billion), Berkadia Commercial Mortgage LLC ($393 billion) and CBRE Loan Services ($380 billion).

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 CMBS, CDO or other ABS loans; PGIM Real Estate Finance led credit company, pension funds, REITs and investment fund loans; Walker & Dunlop, Wells Fargo and Berkadia led Fannie Mae loans; Wells Fargo, KeyBank and PNC/Midland led Freddie Mac loans; Lument Real Estate Capital Holdings LLC, Greystone and Berkadia led FHA & Ginnie Mae loans; CBRE, JLL and NorthMarq led life insurance company loans; and Wells Fargo led loans held in warehouse. PNC/Midland, CWCapital Asset Management LLC and KeyBank are the largest named special servicers.

Wells Fargo, MetLife Investment Management, and PGIM led servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties.

Berkadia, PNC/Midland and SitusAMC led fee-for-service primary and master servicers of U.S. mortgaged, income producing properties; PNC/Midland, Citco Loan Services and Wells Fargo rank as top master and primary servicers of other types of commercial real estate related assets located in the United States; and CBRE, SitusAMC and Mount Street are 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 the MBA 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 (FHA) 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 80 master and primary servicers.

Download the report here.