Mortgage Bankers Association (MBA) today released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of Dec. 31, 2014. At the top of the list of firms is Wells Fargo with $474.4 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $396.8 billion, Berkadia Commercial Mortgage LLC with $236.3 billion, KeyBank National Association with $174.4 billion and GEMSA Loan Services L.P. with $101.3 billion.
Wells Fargo, PNC/Midland, KeyBank and Berkadia are the largest master and primary servicers of commercial/multifamily loans in U.S. commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO) and other asset-backed securities (ABS). Prudential Asset Resources, PNC/Midland, GEMSA and MetLife are the largest servicers for life companies. PNC/Midland, Wells Fargo, Walker & Dunlop LLC and Berkeley Point Capital LLC are the largest Fannie Mae servicers. Wells Fargo, PNC/Midland, KeyBank National Association and GEMSA are the largest Freddie Mac servicers.
PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; of loans for the credit companies, pension funds, real estate investment trusts (REITs) and investment funds and of loans for FHA and Ginnie Mae. Wells Fargo is the top servicer for loans held in warehouse facilities. Berkadia is the top for other investor type loans.
MBA also 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 LLC, PNC/Midland, C-III Asset Management, CWCapital Asset Management LLC and Prudential. LNR Partners is the largest special servicer for CMBS loans.
The MBA survey also collected servicing volumes for loans on commercial/multifamily properties located outside the United States. Situs Asset Management LLC ranks as the largest master and primary servicer of non-U.S. commercial/multifamily mortgages, followed by GEMSA.
