Wells Fargo Leads Industry in Commercial and Multifamily Servicing

Aug 31, 2018

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.

About the author

Phil Hall

Link copied

Published

Aug 31, 2018

People On The Move

Ginnie Mae President Alanna McCargo Announces Resignation

McCargo was first woman and first woman of color at the helm of Ginnie Mae.

The U.S. Department of Housing and Urban Development (HUD) today announced that Alanna McCargo, president of the Government National Mortgage Association (Ginnie Mae), will resign, effective May 3, 2024. McCargo has served in the Biden-Harris Administration since January ...

People On The Move

Christensen, Andrus Added At CE Class Leader

Maximum Acceleration hires mortgage exec. as education director, adds banking manager

Brandon Christensen, a longtime mortgage broker and trainer, has been named Director of Education and National Instructor for Maximum Acceleration LLC, a leading NMLS-approved course provider for mortgage pre-license and continuing education. "Having Brandon join our amaz...