M&A - BANK 2019-BNK20

Form Type: 8-K

Filing Date: 2025-03-04

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425004064

Filing Summary: On March 1, 2025, BANK 2019-BNK20 filed a Form 8-K reporting the acquisition of the third party servicing segment of Wells Fargo Bank’s commercial mortgage servicing business by Trimont LLC. The acquisition is referred to as the CMS Transaction and is effective as of the CMS Acquisition Closing Date. Trimont will act as the general master servicer under the pooling and servicing agreement. The document details Trimont's ratings by Fitch, S&P, and Morningstar DBRS as a master servicer, primary servicer, and special servicer of commercial mortgage loans. It outlines the integration processes anticipated as new systems, technologies, and employees from Wells Fargo will transition to Trimont. The document emphasizes the operational readiness of Trimont to manage various servicing functions, including compliance with federal or state laws and investor requirements. Additionally, it discusses Trimont's strategy for handling delinquent loans, borrower bankruptcies, and the potential involvement of third-party vendors in servicing operations.