Wells Fargo surged to the top of the Mortgage Bankers Association’s (MBA) year-end ranking of commercial and multifamily mortgage servicers, with $429.1 billion in U.S. master and primary servicing.

That mark outdistanced second placed servicer PNC Real Estate/Midland Loan Services’ $337.6 billion by over $90 billion. Berkadia Commercial Mortgage LLC ($197.3 billion), Bank of America Merrill Lynch ($112.5 billion) and KeyBank Real Estate Capital ($101.2 billion) rounded out the top five.

Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank 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 back securities (ABS) issues. PNC/Midland, MetLife, Prudential Asset Resources, GEMSA Loan Services, L.P., and Northwestern Mutual are the largest servicers for life companies; PNC/Midland, Wells Fargo, Walker & Dunlop, LLC., Berkeley Point Capital, LLC, and Berkadia are the largest Fannie Mae/Freddie Mac servicers.

PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top credit company, pension funds, REITs, and investment funds servicer; PNC/Midland the top FHA and Ginnie Mae servicer; Wells Fargo the top for loans held in warehouse facilities; and Berkadia the top for other investor type loans.

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. Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles.