Wells Fargo/Wachovia Bank, with $476.2 billion in U.S. master and primary servicing at the end of June, topped the Mortgage Bankers Association's (MBA) midyear ranking of commercial and multifamily servicers.
PNC Real Estate/Midland Loan Services came in second, with $308.5 billion; Capmark Finance Inc. finished third, with $248.7 billion; KeyBank Real Estate Capital took fourth place, with $133.1 billion; and Bank of America finished fifth, with $132.2 billion.
The MBA report includes a large variety of ranked categories, including U.S. Commercial Banks and Savings Institution Volume, Fannie Mae and Freddie Mac Servicing Volume and U.S. CMBS Named Special Servicing Volume.
Wells Fargo/Wachovia Bank, PNC/Midland, Capmark and Bank of America are the largest master and primary servicers of commercial/multifamily loans in U.S. commercial-mortgage backed securities, collateralized debt obligations and other asset-backed securities; GEMSA Loan Services, Prudential Asset Resources, PNC/Midland and Northwestern Mutual are the largest servicers for life companies; and PNC/Midland, Wells Fargo/Wachovia Bank, Deutsche Bank and Capmark are the largest Fannie Mae/Freddie Mac servicers.
JPMorgan Chase Bank 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 trust and investment funds servicer; PNC/Midland is the top FHA and Ginnie Mae servicer; Wells Fargo/Wachovia is the top for mortgages in warehouse facilities; and Capmark is the top for other investor type loans.
The leading named special servicers were LNR Partners Inc., CWCapital LLC & CWCapital Asset Management, Centerline Servicing Inc. and PNC Real Estate.
SOURCE: Mortgage Bankers Association