Wells Fargo (WFC) topped the Mortgage Bankers Association’s mid-year ranking of commercial and multifamily mortgage servicers, followed by PNC Real Estate/Midland Loan Services and Berkadia Commercial Mortgage.
Wells Fargo holds $430.5 billion in U.S. master and primary servicing. PNC/Midland and Berkadia hold $357 billion and $206.6 billion, respectively. Bank of America Merrill Lynch (BAC) ranked No. 4 with $110.1 billion, trailed by KeyBank Real Estate Capital with $100.1 billion, according to the MBA.
Wells Fargo, PNC/Midland, Berkadia, BofAML and KeyBank are the largest master and primary servicers of commercial/multifamily loans in commercial mortgage-backed securities, collateral debt obligation and other asset-backed securities.
PNC/Midland, Wells Fargo, Berkadia, Berkeley Point Capital and GEMSA Loan Services are the largest Fannie Mae/Freddie Mac servicers.
The MBA asked firms to provide information about loans on which they are the named special servicer — that is, where the firm stands ready to service the loan should special problems develop, such as delinquency. The largest named special servicers were LNR Partners, CWCapital LLC & CWCapital Asset Management and C-III Asset Management.