Wells Fargo Named Top Commercial And Multifamily Servicer For 2011 Volume


Wells Fargo Named Top Commercial And Multifamily Servicer For 2011 Volume Wells Fargo ended 2011 as the largest master and primary servicer of commercial and multifamily mortgages, with $437.7 billion, according to new data from the Mortgage Bankers Association (MBA). PNC Real Estate/Midland Loan Services came in second place with $355.1 billion, followed by Berkadia Commercial Mortgage LLC with $176.5 billion, Bank of America Merrill Lynch with $115.0 billion, and KeyBank Real Estate Capital with $108.2 billion.

Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank were last year's largest master and primary servicers of commercial/multifamily loans in U.S. commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities. PNC/Midland, MetLife, GEMSA Loan Services LP, Prudential Asset Resources and Northwestern Mutual were the largest servicers for life companies, while PNC/Midland, Wells Fargo, Deutsche Bank Commercial Real Estate, Berkadia and GEMSA Loan Services were the largest Fannie Mae and Freddie Mac servicers.

PNC/Midland ranked as the top master and primary servicer of commercial bank and savings institution loans; GEMSA was the top credit company, pension fund real estate investment trust and investment fund servicer; PNC/Midland was the top Federal Housing Administration and Ginnie Mae servicer; Wells Fargo was the top for loans held in warehouse facilities; and PNC/Midland was the top for other investor type loans.

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.

Notify of
Inline Feedbacks
View all comments