Skip to main content

Wells Fargo Leads Industry in Commercial and Multifamily Servicing

Phil Hall
Aug 31, 2018
Wells Fargo, the largest mortgage lender and third largest bank in the nation, is planning to cut between five and 10 percent of its workforce over the next three years

Wells Fargo was the industry leader in commercial and multifamily mortgage servicing during the first half of this year, according to new data from the Mortgage Bankers Association (MBA).
 
For the six-month period ending on June 30, Wells Fargo Bank NA totaled $654 billion in master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $599.7 billion, KeyBank National Association with $229.4 billion, Berkadia Commercial Mortgage LLC with $216.1 billion, and CBRE Loan Services with $177.3 billion.
 
Among servicers with retained or purchased servicing of mortgaged, income-producing commercial properties, Wells Fargo, PNC/Midland and KeyBank were the largest primary and master servicers for CMBS, CDO or other ABS loans, while SunTrust Bank’s Cohen Financial division was the largest for credit company, pension funds, REITs, and investment fund loans. Wells Fargo, Walker & Dunlop, and Berkadia led the industry for servicing Fannie Mae’s commercial mortgage loans, while Wells Fargo and KeyBank were the largest for Freddie Mac loans.
 
The largest commercial mortgage servicers for FHA and Ginnie Mae loans in the first half of the year were Red Mortgage Capital LLC, Walker & Dunlop and Berkadia, while HFF LP, NorthMarq Capital and CBRE for life insurance company loans. Wells Fargo was the top servicer for loans held in warehouse, and PNC and Wells Fargo were the largest named special servicers.

 
Published
Aug 31, 2018
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021