With $462.8 billion in U.S. master and primary servicing contracts, Wells Fargo topped the Mortgage Bankers Association's (MBA) midyear ranking of commercial and multifamily mortgage servicers. The study, based on data available through the end of June, placed PNC Real Estate/Midland Loan Services in second place, with $307.9 billion.
Berkadia Commercial Mortgage, which acquired Capmark Financial Group Inc.'s North American origination and servicing business last December, placed third, with $202.6 billion, while Bank of America Merrill Lynch and KeyBank Real Estate Capital rounded out the top five, with $133.4 billion and $124.7 billion, respectively.
Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank are the largest master and primary servicers of commercial/multifamily loans in U.S. commercial mortgage-backed securities (CMBS), collateralized debt obligations and other asset-backed securities, according to the MBA.
GEMSA Loan Services, PNC/Midland, Prudential Asset Resources, Northwestern Mutual and Northmarq Capital are the largest servicers for life companies, and PNC/Midland, Wells Fargo/Wachovia Bank, Deutsche Bank, Berkadia and Prudential are the largest Fannie Mae/Freddie Mac servicers.
PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA is the top credit company, pension funds, real estate investment trusts and investment funds servicer; PNC/Midland is the top Federal Housing Administration and Ginnie Mae servicer; Wells Fargo is the top servicer for mortgages in warehouse facilities; and Berkadia is the top servicer for other investor-type loans.
The MBA also asked firms to provide information about CMBS loans on which they are the named special servicer. The leading servicers in that category were LNR Partners Inc., CWCapital LLC & CWCapital Asset Management, C-III Asset Management LLC, PNC/Midland and Berkadia.
To read the full report, click here.
SOURCE: Mortgage Bankers Association