During the 2022 Commercial/Multifamily Finance Convention and Expo on Sunday in San Diego, the Mortgage Bankers Association (MBA) released its year-end ranking of commercial and multifamily mortgage servicers' volumes as of Dec. 31, 2021.
Topping the list of firms is Wells Fargo Bank, N.A., with $735 billion in master and primary servicing, followed by PNC Real Estate/Midland Loan Services at $693 billion; KeyBank National Association ($399 billion); Berkadia Commercial Mortgage LLC ($337 billion), and CBRE Loan Services ($327 billion).
Other highlights include:
- Among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties, Wells Fargo, PNC/Midland, and KeyBank are also the largest primary and master servicers for CMBS, CDO or other ABS loans;
- PGIM Real Estate Finance is the largest for credit company, pension funds, REITs, and investment fund loans;
- Walker & Dunlop, Wells Fargo, and Berkadia are the largest for Fannie Mae loans;
- Wells Fargo, KeyBank, and PNC are the largest for Freddie Mac loans;
- Lument Capital, Greystone, and Walker & Dunlop are the largest for FHA & Ginnie Mae loans;
- JLL, CBRE, and NorthMarq for life insurance company loans; and
- Wells Fargo is tops for loans held in warehouse.
- CWCapital Asset Management LLC, PNC, and KeyBank are the largest named special servicers.
Wells Fargo, PNC, and MetLife Investment Management are the top servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties.
A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections, and other property-related activities. A master servicer is typically responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors.
Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles. The tabulations can and do double-count across servicers' loans for which multiple servicers each fulfill a role.
The report includes a ranking of more than 80 master and primary servicers. You can download a copy of the report on MBA's website.
