Wells Fargo has remained at the top of the Mortgage Bankers Association’s ranking of commercial and multifamily mortgage servicers, the New York Observer reported. With $429.1 billion in U.S. master and primary servicing assets as of Dec. 31, the bank is followed by PNC Real Estate/Midland Loan Services ($337.6 billion), Berkadia Commercial Mortgage ($197.3 billion), Bank of America Merrill Lynch ($112.5 billion) and KeyBank Real Estate Capital (101.2 billion) in the annual ranking, according to the Observer.
In 2012, Wells Fargo closed 35,215 loans with an average size of $12.2 million; PNC closed 36,848 loans with an average size of $9.2 million.
Meanwhile, the largest servicers for life insurance companies are PNC ($35 billion), MetLife ($34.9 billion) and Prudential Asset Resources ($34.4 billion), while the largest Fannie Mae/Freddie Mac servicers are PNC ($62.8 billion), Wells Fargo ($44.1 billion) and Walker & Dunlop ($27.9 billion).
Therefore, PNC ranked as the top master and primary servicer of commercial bank and savings institutional loans; GEMSA as the top among credit companies, pension funds, REITs and investment funds servicers; PNC as the top FHA and Fannie Mae servicer; and Wells Fargo at the top for loans held in warehouse facilities.