Personal Small Business Corporate & Institutional About Us
As a result of our enduring client relationships and the consistent efforts of our nearly 500 dedicated employees, Midland Loan Services, a PNC Real Estate business, had another successful year in 2018. We continued to serve our valued clients and borrower relationships. As always, we remain committed to supporting our clients' businesses and providing innovative solutions to meet their increasingly complex commercial real estate finance needs.
As many of you know, Steve Smith retired at the end of 2018 after a distinguished 26-year career with Midland. Tim Steward has succeeded Steve as Co-Head of Midland, along with Stacey Berger. To better address the opportunities and challenges of a dynamic business environment and position Midland to deliver exceptional client experiences, we’ve added new senior executives and reorganized our leadership team. Learn more about the depth and experience of the Midland Senior Leadership team.
The commercial real estate finance market remained positive in 2018. Our clients were successful in continuing to grow their portfolios, allowing Midland to achieve growth across our diversified businesses. Midland’s total servicing and special servicing portfolios increased to record levels, as well as the Enterprise!® Loan Management System assets under management. Our new business efforts helped to expand Midland’s commercial loan servicing, special servicing, asset management, construction loan administration services, single family residential rental and alternative ABS servicing portfolios.
We continued to focus on ways to improve responsiveness and enhance borrower satisfaction, for our institutional, specialty finance and alternative lender clients. We are actively working with CMBS issuers to develop improvements in the master and special servicing lender consents and approval processes, to improve the borrower experience.
2018 accomplishments include:1
Our PNC Real Estate Loan Referral Consultants team helps borrowers who have commercial real estate loans serviced by Midland to find alternative capital sources for refinancing through PNC Real Estate and other lenders. Since its inception in 2011, the consultants have referred approximately $2.7 billion of closed loans through this program.1
Midland is an integral line of business within PNC Real Estate, a leading national commercial and multifamily real estate lender. PNC Real Estate / Midland Loan Services maintains its ranking as the largest U.S. third party commercial loan servicer with $549.3 billion in total loans serviced.3
PNC Bank had another successful year and continued to drive its Main Street banking model. In 2018, the bank grew loans and deposits and added customers – all while continuing to focus on expense management and executing on strategic priorities.
1 as of December 31, 2018
2 Commercial real estate industry rankings, 2018
3 MBA Mid-Year 2018 Commercial/Multifamily Mortgage Servicer Rankings report (Derived by excluding Total Loans Held in Own Portfolio)
We have tools to help you bank when and where you want.Mobile Apps Directory »
Be part of our inclusive culture that strives for excellence and rewards talent.Visit PNC Careers »
The PNC Financial Services Group, Inc. All rights reserved.