M&A - BANK 2018-BNK14

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425004035

Filing Summary: On March 1, 2025, Trimont LLC, a Georgia limited liability company, officially began acting as master servicer under the pooling and servicing agreement for various mortgage loans, signifying the acquisition of the third party servicing segment of Wells Fargo Bank’s commercial mortgage servicing business. This CMS Transaction included the transfer of substantial assets and personnel from Wells Fargo to Trimont, aiming to integrate the operations effectively. The transition is supported by a Transition Services Agreement (TSA) that allows Wells Fargo to assist Trimont for 12 months following the acquisition to ensure a smooth adjustment. Significant ratings from Fitch, S&P, and Morningstar DBRS highlight Trimont's strong position in commercial mortgage loan servicing, with ratings being closely monitored during the transition period. Financial data as of December 31, 2024, shows Trimont managing a pro forma servicing portfolio of $667 billion, emphasizing substantial scale and operational capacity in the commercial mortgage industry. Trimont aims to incorporate newly acquired servicing policies into its existing framework while maintaining high servicing standards and compliance with relevant laws, ensuring no negative impact on certificateholders from current market challenges or its operational structure.