M&A - BANK 2022-BNK40

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003629

Filing Summary: On February 28, 2025, Wells Fargo Commercial Mortgage Securities, Inc. reported a significant event under Form 8-K regarding the acquisition of the third party servicing segment of Wells Fargo Bank's commercial mortgage servicing business. This acquisition involves the transition of CMS (Commercial Mortgage Servicing) operations to Trimont LLC, which will now act as the general master servicer under the pooling and servicing agreement. Trimont will continue to service various commercial and multifamily loans. The CMS Transaction does not include loans related to Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which will remain with Wells Fargo. As part of facilitating this transition, a Transition Services Agreement (TSA) was established between Wells Fargo and Trimont, providing support services for up to 15 months post-acquisition. Trimont's operations will include the integration of former Wells Fargo employees and systems, and it has received ratings as a master servicer from Fitch, S&P, and Morningstar DBRS. Overall, this acquisition represents a strategic expansion for Trimont in the commercial mortgage servicing sector.