The Real Deal New York

Wells Fargo still on top in MBA ranking of commercial mortgage servicers

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.

As The Real Deal has reported, Wells Fargo announced that its fourth quarter profits totaled $5.1 billion—a 24 percent increase over the third quarter of 2012. [NYO] -–Hayley Kaplan