The latest ranking of the largest commercial real estate servicing portfolios is out, and an overall winner has been named. Also out is a list of the biggest servicers by category.
With a primary and master servicing portfolio of 35,215 commercial mortgages serviced for $429.131 billion as of Dec. 31, 2012, Wells Fargo was the country’s biggest servicer.
Wells Fargo was also the biggest servicer of CRE loans included in commercial mortgage-backed securities, collateralized-debt obligations and other asset-backed securities loans. In addition, its $25.569 billion in loans held in warehouse was the biggest in that category.
The standings were reported Monday by the Mortgage Bankers Association in its Commercial/Multifamily Mortgage Servicer Rankings.
PNC Real Estate / Midland Loan Services ranked as the second-biggest servicer overall with a portfolio of 36,848 loans for $337.585 billion. PNC was also the biggest servicer of portfolio loans among commercial banks and savings institutions, life insurance company loans, and loans owned or guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
Next was Berkadia Commercial Mortgage LLC, which serviced 28,047 CRE loans for $197.262 billion as of the end of last year.
The No. 4 overall CRE loan servicer was Bank of America Merrill Lynch, where the portfolio totaled 9,376 loans for $112.482 billion.
The fifth-biggest commercial mortgage servicer was KeyBank Real Estate Capital, which had a portfolio of 10,935 loans for $101.169 billion.
GEMSA Loan Services L.P., which ranked as No. 6 on the overall list, was the largest servicer when it came to loans owned by credit companies, pension funds, real estate investment trusts or investment funds.
