M&A - BANK 2019-BNK21

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003258

Filing Summary: On March 1, 2025, Trimont LLC acquired the third-party servicing segment of Wells Fargo Bank, specifically its commercial mortgage servicing business, in a transaction referred to as the CMS Transaction. This acquisition includes the replacement of Wells Fargo's duties under servicing agreements with Trimont. Trimont is now acting as the master servicer and integrating its operations with Wells Fargo’s historical servicing operations. As part of this integration, Trimont is implementing its own servicing policies and technology platforms to manage the new portfolio. The acquisition places Trimont in a stronger position in the market, enhancing its servicing capacity significantly. The acquisition complements Trimont's existing capabilities and is expected to streamline operations amidst structural changes, including transitioning systems and integrating personnel from Wells Fargo. Additionally, Welles Fargo will continue servicing its own loans associated with federal programs like those from Fannie Mae and Freddie Mac, separate from this acquisition.