According to the Mortgage Bankers Association's newly released its year-end ranking of commercial and multifamily mortgage servicers' volumes (as of December 31, 2018); Wells Fargo leads the national rankings, again.
As reported at the MBA's annual 2019 Commercial Real Estate Finance/Multifamily Housing Convention & Expo in San Diego this week, shows Wells Fargo Bank N.A., with $675.3 billion in master and primary servicing in 2018, followed by PNC Real Estate/Midland Loan Services ($612.4 billion), KeyBank N.A. ($256.6 billion), Berkadia Commercial Mortgage LLC ($235.9 billion) and CBRE Loan Services ($189.4 billion).
MBA ranked servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties in the following categories:
Wells Fargo, PNC/Midland and KeyBank led largest primary and master servicers for commercial mortgage-backed securities, collateralized debt obligations or other asset-backed loans;
Cohen Financial led for credit company, pension funds, real estate investment trusts and investment fund loans;
Wells Fargo, Walker & Dunlop and Berkadia led for Fannie Mae loans;
Wells Fargo and KeyBank led for Freddie Mac loans;
Red Mortgage Capital LLC, Walker & Dunlop and Berkadia led for FHA & Ginnie Mae loans;
HFF LP, NorthMarq and CBRE led for life insurance company loans;
Wells Fargo led for loans held in warehouse;
PNC and Wells Fargo are the largest named special servicers;
Wells Fargo, MetLife and PGIM Real Estate Finance led servicers for loans held in own portfolio for U.S. mortgaged, income-producing properties.
PNC and Berkadia are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties;
Capital One Financial Corp. and Wells Fargo rank as the top master and primary servicers of other types of commercial real estate related assets located in the U.S.; and
Situs and CBRE are the top primary and master servicers of non-US CRE-related assets.
A total of 161,875 U.S. properties with a foreclosure filing during the first quarter of 2019, down 23 percent from the previous quarter and down 15 percent from a year ago to the lowest level since Q1 2008.
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index, U.S. builder confidence in the market for newly-built single-family homes held steady at 62 in March 2019.
Zillow is reporting this week that a limited U.S. housing inventory and rapid price appreciation have kept sellers firmly in the driver's seat for several years as the United States recovered from the housing market collapse in 2008.
Sales of new homes in all four major U.S. regions significantly declined in the last two months of 2018. The year-over-year trend was especially drastic in the Northeast, where new-home sales fell by 16.1 percent in December.
Based on a new report by the California Association of Realtors, California home sales remained on a downward trend for the seventh consecutive month in November 2018 as prospective buyers continued to wait out the market.
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