Mid-Year 2018 Commercial, Multifamily Servicer Rankings Revealed

Based on the Mortgage Bankers Association's recently released mid-year 2018 ranking of commercial and multifamily mortgage servicers in the U.S., at the top of the list of firms is Wells Fargo Bank, NA, with $654.0 billion in master and primary servicing. PNC Real Estate/Midland Loan Services followed second with $599.7 billion, KeyBank National Association with $229.4 billion, Berkadia Commercial Mortgage LLC with $216.1 billion, and CBRE Loan Services with $177.3 billion.

Among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties, Wells Fargo, PNC/Midland and KeyBank are the largest primary and master servicers for CMBS, CDO or other ABS loans; Cohen Financial, a Division of SunTrust Bank is the largest for credit company, pension funds, REITs, and investment fund loans; Wells Fargo, Walker & Dunlop, and Berkadia are the largest for Fannie Mae loans; Wells Fargo and KeyBank are the largest for Freddie Mac loans; Red Mortgage Capital, LLC, Walker & Dunlop and Berkadia are the largest for FHA & Ginnie Mae loans; HFF, LP, NorthMarq Capital, and CBRE for life insurance company loans; Wells Fargo for loans held in warehouse. PNC and Wells Fargo are the largest named special servicers.

Wells Fargo, PGIM Real Estate Finance, and MetLife are the top servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties.

PNC and Berkadia are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties; Wells Fargo and Capital One Financial Corp rank as the top master and primary servicers of other types of commercial real estate related assets located in the United States; and Situs and CBRE are the top primary and master servicers of non-US 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.