MBA Ranks Commercial and Multifamily Servicers

Wells Fargo/Wachovia bank heads up the latestrnranking of commercial and multifamily mortgage servicers issued by The MortgagernBankers Association (MBA) for the first half of 2009.  The bank has a volume of $476.2 billion inrnmaster and primary servicing and is managing a total of 42829 loans.

A primary servicer is one which collects loanrnpayments from borrowers and performs property related services such as propertyrninspections.  A master servicer isrngenerally responsible for collecting cash and data from primary servicers andrndistributed that to investors.

Following Wells Fargo was PNC Real Estate/MidlandrnLoan Services with 308.5 billion (32,087 loans), Capmark Finance with $248.7rnbillion (32,357), KeyBank Real Estate Capital with $133.1 billion (12,501), andrnBank of America with $132.2 billion (7,144 loans).  

J.P. Morgan/Chase and PNC/Midland ranked firstrnand second among commercial and savings banks with portfolios of $41,200 millionrnand $31,096 million respectively.  GemsarnLoan Services ($37,333) and TIAA CREF ($18,980) were the largest servicers inrnthe category of credit companies, pension funds, REITs and investment funds.

PNC/Midland tops the list of servicers forrngovernment agencies.  The company isrnservicing $53,699 million in loans for Freddie Mac and Fannie Mae and $10,496rnmillion for FHA and Ginnie Mae.

 The largest warehouse servicing volume isrnmaintained by Wells Fargo/Wachovia at $25,630.

MBA also collected information on servicingrnvolumes of commercial and multifamily properties located outside the U.S.  The largest master and primary servicer inrnthis category is Hatfield Philips International.

The complete report can be read at http://www.mbaa.org/NewsandMedia/PressCenter/70138.htm.rn 

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