M&A - BANK 2020-BNK28

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003585

Filing Summary: On March 1, 2025, Trimont LLC completed the acquisition of the third-party servicing segment of Wells Fargo Bank's commercial mortgage servicing business, referred to as the CMS Transaction. This integration includes assets, employees, and servicing responsibilities previously held by Wells Fargo regarding certain commercial and multifamily loans. Following the acquisition, Trimont is positioned as the master servicer under the pooling and servicing agreements, taking over obligations, rights, and servicing agreements from Wells Fargo. Notably, the transaction excludes Wells Fargo's servicing of loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which will continue under Wells Fargo. The move aims to enhance Trimont's capabilities in servicing commercial mortgage-backed securities. The integration will happen in phases, and Wells Fargo has committed to providing support services for 12 months post-acquisition under a Transition Services Agreement (TSA). The acquisition underscores Trimont’s goal of maintaining and improving servicing standards and practices across its portfolio of commercial mortgage loans.