At its 2024 Commercial/Multifamily Finance Convention and Expo, the Mortgage Bankers Association (MBA) today revealed its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31, 2023.
With $669 billion in master and primary servicing, Wells Fargo Bank N.A. leads the list of companies. PNC Real Estate/Midland Loan Services ($646 billion), KeyBank National Association ($465 billion), CBRE Loan Services ($410 billion), and Berkadia Commercial Mortgage LLC ($405 billion) round out the top five.
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, CLO or other ABS loans; PGIM Real Estate Finance is the largest for credit company, pension funds, REITs, and investment fund loans; Walker & Dunlop, Berkadia, and Wells Fargo are the largest for Fannie Mae loans; KeyBank, Wells Fargo, and PNC/Midland are the largest for Freddie Mac loans; Lument Real Estate Capital Holdings, LLC, Greystone, Berkadia, and Walker & Dunlop are the largest for FHA & Ginnie Mae loans; JLL, NorthMarq, and CBRE for life insurance company loans; and Wells Fargo for loans held in warehouse.
CWCapital Asset Management LLC and KeyBank are the largest named special servicers.
Berkadia, SitusAMC, and CBRE are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties; Citco Loan Services, JPMorgan Chase & Co, and PNC/Midland rank as the top master and primary servicers of other types of commercial real estate related assets located in the United States; and CBRE, Mount Street, and Trimont are the top primary and master servicers of non-US CRE-related assets.
Specific Breakouts in the MBA 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; and
- Non-U.S. Total, Primary and Master, Total
To read the full report, including all rankings and methodology, click here.
