The Mortgage Bankers Association (MBA) has released its mid-year ranking of commercial and multifamily mortgage servicers as of June 30, 2011. On top of the list of firms is Wells Fargo with $442.9 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $346.5 billion, Berkadia Commercial Mortgage with $184.2 billion, Bank of America Merrill Lynch with $123.7 billion and KeyBank Real Estate Capital with $107.7 billion.
PNC Real Estate/Midland Loan Services serviced the most loans in the first half of 2011, with a whopping 84,359 loans currently being serviced, followed by Wells Fargo with 39,613 loans serviced, and Berkadia with 24,804 loans serviced.
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. CMBS, CDO and other ABS; PNC/Midland, MetLife, GEMSA Loan Services, Prudential Asset Resources, and Northwestern Mutual are the largest servicers for life companies; and PNC/Midland, Wells Fargo, Berkadia and Deutsche Bank Commercial Real are the largest Fannie Mae and Freddie Mac servicers.
PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top servicer of credit company, pension funds, REITs, and investment funds loans; PNC/Midland the top FHA and Ginnie Mae loan servicer; Wells Fargo the top servicer for loans held in warehouse facilities; and Berkadia the top servicer for other investor type loans.
The Mortgage Bankers Association (MBA) also asked firms to provide information about loans on which they are the "named special servicer," where the firm stands ready to service the loan should special problems develop, such as delinquency. The leading named special servicers were LNR Partners Inc., CWCapital LLC & CWCapital Asset Management and C-III Asset Management LLC.
The MBA's Mid-Year Commercial/Multifamily Mortgage Servicer Rankings also collected servicing volumes for loans on commercial/multifamily properties located outside the United States. Hatfield Philips International, an LNR Property Company, ranks as the largest master and primary servicer of non-U.S. commercial/multifamily mortgages, followed by Deutsche Bank, PNC/Midland, GEMSA and Manulife Financial/John Hancock.