Wells Fargo CMBS loans: recent loans, sizes and rates

What Wells Fargo's CMBS lending looks like

• Loan size close to the market: a median of $19.4M against $15M market-wide.
• Rates below the market once property type is accounted for: about 11 basis points under the market median for the same property types, loan-weighted. Timing matters too: a lender that closed more loans when Treasury yields were lower will show lower rates.
• Less leverage than the market: median loan-to-value of 59.5% against 63.9%, and debt service coverage of 1.70x against 1.47x.
• Geographically concentrated: 26% of its loans were on property in CA.

Wells Fargo against the CMBS market

Measure	Wells Fargo	CMBS market
Median loan	$19.4M	$15M
Median note rate	6.46%	6.40%
Middle half of rates	6.09% to 6.81%
Median loan-to-value	59.5%	63.9%
Median debt service coverage	1.70x	1.47x
Median debt yield	11.5%	10.1%
Interest-only for the full term	78%	87%
Five-year term	80%	79%
Ten-year term	20%	21%

Wells Fargo: its loans in the 12 months to October 19, 2026. Market: every loan securitized in the 12 months to October 19, 2026 except co-op housing (958 loans). Loan-to-value, coverage and debt yield are at securitization and use whole loans only, since a split note holds only part of the debt. See DSCR and debt yield.

Property types Wells Fargo financed

Property type	Loans	Volume	Median rate	Market, same type
Retail	18	$547M	6.50%	6.58% (-8 bp)
Office	16	$812M	6.59%	6.64% (-5 bp)
Hotel	15	$682M	6.70%	7.02% (-32 bp)
Self-storage	15	$198M	6.05%	6.11% (-6 bp)
Multifamily	11	$209M	6.28%	6.35% (-7 bp)
Industrial	8	$573M	6.62%	6.63% (-1 bp)
Mixed use	4	$573M
Other or not reported	1	$37.3M

Median rates shown where Wells Fargo made at least five loans of the type. Market medians are for the 12 months to October 19, 2026.

Loan sizes and terms

Smallest loan $3.7M, largest $405M. 78% were interest-only for the whole term. What those terms mean for a borrower: CMBS loan terms and interest-only CMBS loans.

Where Wells Fargo lends

Most frequent states for its loans in the 12 months to October 19, 2026:

• CA 23
• NY 7
• GA 5
• FL 4
• WA 4
• MI 3
• NC 3
• NV 3
• TX 3
• PA 3

Portfolio loans count once, at the state of the largest property. CMBS loans by state.

Wells Fargo loans securitized each quarter

Quarter ending	Loans	Chart
Jan 20, 2025	20
Apr 21, 2025	19
Jul 21, 2025	17
Oct 20, 2025	26
Jan 19, 2026	36
Apr 20, 2026	19
Jul 20, 2026	18
Oct 19, 2026	15

Eight 91-day periods ending October 19, 2026, by origination date. Loans reach the filings when their trust prices, so the latest quarter fills in over the following months.

How Wells Fargo appears in the SEC filings

Trusts name the originator in their own words. These are the versions of the name on Wells Fargo loans in the 24 months to October 19, 2026, with the number of notes filed under each, including loans made jointly with other lenders. 39 trusts hold these loans; the most were in BANK5 2025-5YR17 (10).

• WFB 131
• Wells Fargo Bank, National Association 70
• WFB/JPMCB 7
• WFB, CREFI, JPMCB 6
• JPMCB/WFB 5
• Wells Fargo Bank, National Association/Morgan Stanley Bank, N.A. 5
• WFB, BANA, MSBNA 4
• Wells Fargo Bank, National Association/JPMorgan Chase Bank, National Association 2
• WFB/MSMCH 2
• WFB JPMCB 2
• UBS AG/WFB 2
• JPMorgan Chase Bank, National Association, Bank of America, National Association, Wells Fargo Bank, National Association 1
• WFB/MSBNA/BANA 1
• WFBNA 1

Plus 2 other spellings and joint-originator combinations.

Wells Fargo's own website: wellsfargo.com. Bank programs, contacts and terms are theirs to state; this page reports only what the filings show.

Getting a CMBS loan like these

Janover Capital LLC is a commercial mortgage advisor, not a lender, and has no affiliation with Wells Fargo. Nothing here means Wells Fargo will make a particular loan or offer a particular rate. What the filings do show is the kind of loan it has been closing. If your property and loan size look like the ones above, send the deal and we will place it with conduit lenders whose recent loans fit, which may or may not include Wells Fargo. Before you do, read CMBS loan requirements and the document checklist.

Similar CMBS lenders

Closest in property mix:

• Goldman Sachs: 71 loans, median $14.5M at 6.33%
• JPMorgan Chase: 34 loans, median $47M at 6.38%
• Bank of America: 90 loans, median $14M at 6.38%
• BMO: 43 loans, median $16.4M at 6.46%

All CMBS lenders, ranked · CMBS loan rates · Methodology

Questions people ask

How big are Wells Fargo's CMBS loans?

In the 12 months to October 19, 2026, Wells Fargo securitized loans from $3.7M to $405M, with a median of $19.4M. 19% were under $10 million. A loan split into notes across trusts counts once, at its full amount.

What interest rate does Wells Fargo charge on a CMBS loan?

Its loans in the 12 months to October 19, 2026 carried a median note rate of 6.46%, with the middle half between 6.09% and 6.81%. Those are rates at closing as filed with the SEC, not a quote: a new loan is priced off today's Treasury yield and the property.

What properties does Wells Fargo finance with CMBS loans?

Retail (18 loans), Office (16 loans), Hotel (15 loans), Self-storage (15 loans), and others, in the 12 months to October 19, 2026. Its most frequent state was CA (23 loans).

Who services a Wells Fargo CMBS loan?

Not the originator, usually. Once a loan is in a trust, the master servicer named in that trust's pooling and servicing agreement collects payments and handles routine requests, and the special servicer takes over if the loan gets into trouble. Look up a loan by property or trust to see both.