M&A - BANK 2021-BNK35
Form Type: 8-K
Filing Date: 2025-03-03
Corporate Action: Acquisition
Type: New
Accession Number: 000188852425003980
Filing Summary: On March 1, 2025, Trimont LLC officially acquired the third-party servicing segment ('CMS') of Wells Fargo Bank's commercial mortgage servicing business. This transaction allows Trimont to expand its loan servicing capabilities and immediately integrates CMS into Trimont's operations. The CMS Transaction does not include servicing rights related to loans originated by Wells Fargo for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which will continue to be managed by Wells Fargo. Trimont's master servicing role under the pooling and servicing agreements involves various mortgage loans, demonstrating its capacity as a loan servicer and manager of commercial real estate assets. Essential strategies and procedures have been established by Trimont for managing delinquent loans and maximizing value for certificateholders, while also indicating the company's robust compliance with servicing obligations.
Additional details:
Cik Number: 0001872347
Servicer Name: Trimont LLC
Acquisition Date: 2025-03-01
Acquisition Details: Trimont acquired Wells Fargo's CMS servicing segment.
Transition Services Agreement: TSA between Trimont and Wells Fargo for 12 months post-acquisition.
Servicing Platforms: Two loan servicing technology platforms using separate instances of McCracken Financial Solutions software.
Master Servicer Rating: CMS3+ Average (rating from Fitch)
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