MBA Releases 2020 Year-End Commercial/Multifamily Servicer Rankings

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Adam DeSanctis
adesanctis@mba.org
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WASHINGTON, D.C. (February 10, 2021) - The Mortgage Bankers Association (MBA) today released its year-end ranking of commercial and multifamily mortgage servicers' volumes as of December 31, 2020. 

At the top of the list of firms is Wells Fargo Bank, N.A., with $712 billion in master and primary servicing, followed by PNC Real Estate/Midland Loan Services ($668 billion), KeyBank National Association ($326 billion), Berkadia Commercial Mortgage LLC ($303 billion), and CBRE Loan Services ($264 billion).  

Among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties, Wells Fargo, PNC/Midland, and KeyBank are 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; Wells Fargo, Walker & Dunlop, 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 for loans held in warehouse. PNC, CWCapital Asset Management LLC, 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.  

PNC, Berkadia, and SitusAMC are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties; Wells Fargo, Trimont Real Estate Advisors, and KeyBank rank as the top master and primary servicers of other types of commercial real estate related-assets located in the United States; and SitusAMC, CBRE, and Mount Street are the top primary and master servicers of non-US CRE-related assets.  

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.  

Specific breakouts in MBA's survey include:

  • Total Primary and Master Servicing;
  • U.S. Mortgaged, Income-Producing Properties, Loans Held in Own Portfolio, Total;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Total
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, CMBS,  CDO or other ABS loans;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Commercial Bank and Savings Institution Loans;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Credit Company, Pension Funds, REITs, and Investment Funds Loans;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Fannie Mae;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Freddie Mac;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Federal Housing Administration (FHA) and Ginnie Mae;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Life Insurance Companies;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Primary & Master, Loans Held in Warehouse;
  • U.S. Mortgaged, Income-Producing Properties, Retained or Purchased Servicing, Named Special; Total
  • U.S. Mortgaged, Income-Producing Properties, Other Fee-For-Service, Primary and Master; Total
  • U.S. Other CRE-Related Assets, Primary and Master; Total
  • Non-U.S. Total, Primary and Master, Total 

The report includes a ranking of more than 80 master and primary servicers. The full report can be downloaded here: www.mba.org/documents/research/YE20ServicerRanking.pdf