Most of the largest servicers of commercial real estate loans have maintained the same rankings they had a year ago. What has changed, though, is the average size of loans they service.
With a total commercial mortgage servicing portfolio of 31,739 loans for $502.157 billion as of June 30, Wells Fargo Bank, N.A., maintained its position as the biggest servicer.
The Sioux Falls, South Dakota-based financial institution grew its CRE loan portfolio from the same point in 2015, when it serviced 33,192 commercial mortgages for $484.239 billion.
The Mortgage Bankers Association revealed the standings in its Commercial/Multifamily Mortgage Servicing Rankings Mid-Year 2016.
Wells Fargo was also the biggest servicer of CRE loans included in commercial mortgage-backed securities, collateralized-debt obligations
and asset-backed securities.
No. 2 PNC Real Estate/Midland Loan Services had an overall CRE loan servicing portfolio of 31,596 mortgages for $499.058 billion as of mid-2016.
PNC’s portfolio was
33,086 loans for $465.804 billion a year earlier, when it also was the second-largest CRE loan servicer.
PNC held the top spot among CRE loans servicers for commercial banks and savings institutions.
In addition, it was the biggest servicer of commercial mortgages held by life insurance companies and also for loans owned by credit companies, pension funds, real estate investment trust and investment funds.
On Fannie Mae multifamily loans, PNC had the biggest servicing portfolio, while Wells Fargo was the biggest servicer of Freddie Mac multifamily loans.
On CRE loans serviced for the Federal Housing Administration and Ginnie Mae, PNC was No. 1.
Berkadia Commercial Mortgage LLC serviced 22,095
loans for $220.580 billion as of the most-recent date, landing it in the third overall spot.
Berkadia was also No. 3 at the same point last year, when it serviced
24,692 loans for $230.411.
The June 30, 2016, CRE loan servicing portfolio at KeyBank, N.A., was 17,964 mortgages for $195.417 billion, making it the fourth-largest CRE loan servicer.
KeyBank maintained its standing from mid-2015, when its portfolio stood at
18,346 loans for $189.862 billion.
All of the top-four CRE loan servicers have seen the average size of the mortgages they service increase from June 30, 2015.
In fifth position was CBRE Loan Services with a servicing portfolio of 5,204 loans for $108.304 billion as of the end of June 2016.
