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MBA Ranking Reveals Largest Commercial/Multifamily Servicers

Wells Fargo is the largest servicer of commercial and multifamily mortgages by dollar volume as of the end of June, according to the ""Mortgage Bankers Association (MBA)."":http://mbaa.org/default.htm The institution is responsible for primary and master servicing duties for $431 billion in commercial and multifamily loans, according to ""data"":http://www.mortgagebankers.org/files/Research/CommercialServicing/MY13ServicerRankings.pdf released Thursday by MBA.


PNC Real Estate/Midland Loan Services is the second-largest commercial/multifamily servicer, working with $352.8 billion in loans.

The list of the top five commercial/multifamily lenders is rounded out by Berkadia Commercial Mortgage LLC ($235 billion), Key Bank Real Estate Capital ($165.4 billion), and GEMSA Loan Services, L.P. ($98.4 billion) as of the end of June.

While Wells Fargo is the largest servicer of loans by dollar volume, PNC outranks Wells in number of loans serviced. PNC currently services 37,015 commercial/multifamily loans, while Wells Fargo services the second-largest number of loans of any servicer--33,843 loans, according to MBA.


Berkadia is not far behind with 28,993 commercial/multifamily loan servicing rights.

MetLife ranks No. 10 in terms of dollar volume of commercial/multifamily loans, but it outranks all other servicers in terms of average loan size.

The average loan size at MetLife is $53.2 million, compared to $12.7 million at Wells Fargo and $9.5 million at PNC.

Wells Fargo and PNC are the two largest servicers of commercial mortgage-backed securities, collateralized debt obligations, and asset-backed securities both in terms of dollar volume and number of loans serviced.

Wells Fargo services $348 billion loans in these categories, while PNC services $131.2 billion loans in these categories.

The two banks are followed by KeyBank Real Estate Capital, Berkadia Commercial Mortgage, and GEMSA Loan Servicing in terms of dollar volume.

When it comes to Fannie Mae and Freddie Mac Loans, PNC services the largest amount by dollar volume, $76.3 billion, followed by Wells Fargo with $44.3 billion.

The top servicers of FHA and Ginnie Mae loans by dollar volume are PNC ($13.9 billion) and Prudential ($9.4 billion).

The largest specialty servicers by dollar volume are LNR Partners, Inc., with $144.6 billion in loans and CWCapital Asset Management LLC $141.2 billion.

Wells Fargo did earn a ranking on the specialty servicer list though in the No. 6 spot with $55 billion in loans.


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