The firm that took the top spot had $669 billion in master and primary servicing
The Mortgage Bankers Association (MBA) has revealed its ranking for the volumes of commercial and multifamily mortgage servicers.
During its 2024 Commercial/Multifamily Finance Convention and Expo, the MBA announced that Wells Fargo Bank N.A. took the top spot as it had $669 billion in master and primary servicing. It was followed by PNC Real Estate/Midland Loan Services which had $646 billion, KeyBank National Association with $465 billion, CBRE Loan Services with $410 billion, and Berkadia Commercial Mortgage LLC with $405 billion.
Wells Fargo, PNC/Midland, and KeyBank were found to be the largest primary and master servicers for CMBS, CLO, or other ABS loans while PGIM Rea Estate Finance was the largest for credit company, pension funds, REITs, and investment fund loans.
Walker & Dunlop, Berkadia, and Wells Fargo were the largest servicers for Fannie Mae loans while KeyBank, Wells Fargo, and PNC/Midland were found to be the largest for Freddie Mac loans.
Meanwhile for FHA & Ginnie Mae loans, the largest servicers were Lument Real Estate Capital Holdings, LLC, Greystone, Berkadia, and Walker & Dunlop. For life insurance company loans, the largest servicers were JLL, NorthMarq, and CBRE. Wells Fargo was the sole largest servicer for loans that were held in warehouse.
The largest named special servicers were CWCapital Asset Management LLC and KeyBank.
The top fee-for-service primary and master servicers of US mortgaged, income producing properties were Berkadia, SitusAMC, and CBRE. Meanwhile, Citco Loan Services, JPMorgan Chase & Co, and PNC/Midland were the top master and primary servicers of other types of commercial real estate related assets that were located in the US. For non-US CRE-related assets, CBRE, Mount Street, and Trimont were the top primary and master servicers.
Primary servicers were responsible for collecting loan payments from borrowers as well as performing property inspections and other related activities. Meanwhile, master servicers were concerned with collecting cash and data from primary servicers and providing cash and data to investors.
Have something to say about this story? Let us know in the comments below.
