M&A - BANK 2024-BNK47

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003597

Filing Summary: On February 28, 2025, BANK 2024-BNK47 filed a Form 8-K detailing its acquisition of the third-party servicing segment (CMS) of Wells Fargo Bank's commercial mortgage servicing business. As of the acquisition closing date on March 1, 2025, Trimont LLC will act as the general master servicer for several mortgage loans, including those from the St. Johns Town Center, Danbury Fair Mall, and others. The document highlights Trimont's capabilities, servicing ratings from agencies like Fitch and S&P, and its strategy for managing loans. It also outlines the transition services agreement with Wells Fargo to support Trimont's operations during the integration period. Additionally, no significant legal proceedings against Trimont that could impact certificateholders were reported, affirming its stability in servicing operations.