PNC Narrowly Tops Wells Fargo in MBA’s 2019 Commercial, Multifamily Servicer Rankings

by Alex Tostado

WASHINGTON, D.C. — The Mortgage Banker Association (MBA) has released its 2019 ranking of commercial and multifamily mortgage servicers, which is calculated by deal volume.

PNC Real Estate/Midland Loan Services led the field with $702 billion in loan volume as of Dec. 31, 2019, narrowly edging out Wells Fargo Bank ($700 billion). KeyBank National Association ($306 billion), Berkadia Commercial Mortgage LLC ($280 billion) and CBRE Loan Services ($228 billion) rounded out the top five. The Washington, D.C.-based association released the rankings at the 2020 Commercial Real Estate Finance/Multifamily Housing Convention & Expo, held at the Manchester Grand Hyatt San Diego. The four-day conference concludes Wednesday.

The MBA also ranked a few different categories in its report, including ranking the top agency servicers. For Fannie Mae loans, Wells Fargo, Walker & Dunlop, Berkadia, CBRE and Newmark Knight Frank (NKF) are the top five servicers. For Freddie Mac, Wells Fargo, KeyBank, PNC, CBRE and Berkadia are the top five performers.

Orix Real Estate Capital, Walker & Dunlop, Berkadia, Greystone and Wells Fargo were the top Federal Housing Authority (FHA) and Ginnie Mae servicers.

Wells Fargo, PNC, KeyBank, NKF and JLL were the top CMBS servicers, and JLL was at the top of the rankings for life insurance company loans, followed by NorthMarq, CBRE, Berkadia and Bellwether Enterprise Real Estate Capital.

Wells Fargo, PNC, and PGIM Real Estate Finance, PNC and Northwestern Mutual are the top servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties. PNC, Berkadia, and SitusAMC, KeyBank and Trimont Real Estate Advisors are the top fee-for-service primary and master servicers of U.S. mortgaged, income-producing properties. MBA defines a primary servicer as being 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.

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