The Mortgage Bankers Association has released its year-end ranking of commercial and multifamily mortgage servicers as of Dec. 31, 2012. At the top of the list of firms is Wells Fargo with $429.1 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $337.6 billion, Berkadia Commercial Mortgage LLC with $197.3 billion, Bank of America Merrill Lynch with $112.5 billion and KeyBank Real Estate Capital with $101.2 billion.
During 2012, Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank were the largest master and primary servicers of commercial/multifamily loans in U.S. commercial mortgage-backed securities, collateralized debt obligation and other asset-backed securities issues. PNC/Midland, MetLife, Prudential Asset Resources, GEMSA Loan Services, L.P., and Northwestern Mutual were the largest servicers for life companies last year, while PNC/Midland, Wells Fargo, Walker & Dunlop LLC, Berkeley Point Capital LLC, and Berkadia were the largest Fannie Mae/Freddie Mac servicers.
PNC/Midland ranked as the top master and primary servicer of commercial bank and savings institution loans; GEMSA was the top servicer for credit companies, pension funds, real estate investment trusts and investment funds; PNC/Midland was the top Federal Housing Administration and Ginnie Mae servicer; Wells Fargo was the leader for loans held in warehouse facilities; and Berkadia was the top for other investor type loans.