M&A - Benchmark 2024-V8 Mortgage Trust

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Merger

Type: New

Accession Number: 000188852425003391

Filing Summary: Benchmark 2024-V8 Mortgage Trust reported a significant transaction involving the acquisition of the third-party servicing segment of Wells Fargo Bank's commercial mortgage servicing business by Trimont LLC. The acquisition, referred to as the CMS Transaction, took place on March 1, 2025, and included the transfer of servicing rights and responsibilities for certain commercial mortgage loans. The integration of employees, systems, and operations from Wells Fargo to Trimont is underway to ensure a smooth transition. Trimont, now acting as the master servicer, has been rated by various agencies and is implementing its servicing platform for the newly acquired loans. The report provides detailed service ratings from Fitch, S&P, and Morningstar, indicating a robust standing in the mortgage servicing industry. Moreover, the document outlines the operational capabilities and responsibilities Trimont will now hold following this merger, including strategies for managing delinquent loans and performing necessary servicing functions under the acquired portfolio.