| Title: | Wells Fargo Tops U.S. Commercial/Multifamily Servicers in MBA Mid-Year Rankings Report |
| Source: | MBA |
| Date: | 8/24/2010 |
Washington, DC (August 24, 2010) – The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers
as of the end of June 30, 2010. Topping the list of firms is Wells Fargo with $462.8 billion in U.S. master and primary servicing,
followed by PNC Real Estate/Midland Loan Services with $307.9 billion, Berkadia Commercial Mortgage with $202.6 billion, Bank
of America Merrill Lynch with $133.4 billion and KeyBank Real Estate Capital with $124.7 billion.
Specific breakouts include:
• Total U.S. Master and Primary Servicing Volume
• U.S. Commercial Mortgage-backed Securities (CMBS), Collateralized Debt Obligations (CDOs) and Other Asset-Backed Securities
(ABS) Master and Primary Servicing Volume
• U.S. Commercial Banks and Savings Institution Volume
• U.S. Credit Company, Pension Funds, REITs, and Investment Funds Volume
• Fannie Mae and Freddie Mac Servicing Volume
• Federal Housing Administration (FHA) Servicing Volume
• U.S. Life Company Servicing Volume
• U.S. Warehouse Volume
• U.S. Other Investor Volume
• U.S. CMBS Named Special Servicing Volume
• Total Non-U.S. Master and Primary Servicing Volume
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.
Wells Fargo, PNC/Midland, Berkadia, Bank of America Merrill Lynch and KeyBank are the largest master and primary servicers
of commercial/multifamily loans in U.S. CMBS, CDO and other ABS; GEMSA Loan Services, PNC/Midland, Prudential Asset Resources,
Northwestern Mutual, and Northmarq Capital are the largest servicers for life companies; PNC/Midland, Wells Fargo/Wachovia
Bank, Deutsche Bank, Berkadia and Prudential are the largest Fannie Mae/Freddie Mac servicers.
PNC/Midland ranks as the top master and primary servicer of commercial bank and savings institution loans; GEMSA the top credit
company, pension funds, REITs, and investment funds servicer; PNC/Midland the top FHA and Ginnie Mae servicer; Wells Fargo
the top for mortgages in warehouse facilities; and Berkadia the top for other investor type loans.
MBA also asked firms to provide information about CMBS loans on which they are the "named special servicer" – that is, where
the firm stands ready to service the loan should special problems develop, such as delinquency. The leading named special
servicers were LNR Partners, Inc., CWCapital LLC & CWCapital Asset Management, C-III Asset Management LLC, PNC/Midland and
Berkadia.
The MBA survey also collected servicing volumes for loans on commercial/multifamily properties located outside the United
States. Hatfield Philips International ranks as the largest master and primary servicer of non-U.S. commercial/multifamily
mortgages, followed by, Deutsche Bank, PNC/Midland, GEMSA and Situs Asset Management.
To view the full report click here.
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The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry
that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the
association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand
homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and
fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety
of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies,
mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending
field. For additional information, visit MBA's Web site: www.mortgagebankers.org.