Wells Fargo Leads Industry in Commercial and Multifamily Servicing
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Wells Fargo Leads Industry in Commercial and Multifamily Servicing

August 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.

 
Commercial