M&A - BANK5 2023-5YR4

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003601

Filing Summary: BANK5 2023-5YR4's 8-K filing reports the acquisition of the third-party servicing segment of Wells Fargo Bank by Trimont LLC, effective March 1, 2025. Trimont will act as the master servicer under the pooling and servicing agreement and is expected to integrate Wells Fargo’s commercial mortgage servicing business. Most CMS employees, along with systems and processes, were transferred to Trimont. The transaction does not affect Wells Fargo’s responsibilities for loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae. Following the acquisition, Trimont is set to operate two loan servicing technology platforms and will continue servicing existing loans under prior guidelines while integrating new operational strategies.