M&A - CD 2016-CD2 Mortgage Trust

Form Type: 8-K

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003148

Filing Summary: On February 28, 2025, CD 2016-CD2 Mortgage Trust reported a significant acquisition activity where Trimont LLC acquired the third-party servicing segment (CMS) of Wells Fargo Bank’s commercial mortgage servicing business. This acquisition excluded specific servicing rights related to loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which Wells Fargo will continue to service. As part of the CMS Transaction, most CMS employees, systems, technologies, and operating procedures were transferred to Trimont. The transition will be managed with support from Wells Fargo for a designated period under a Transition Services Agreement. The document describes various servicing responsibilities, the integration of business functions, and future servicing practices for loans acquired in the transaction, which highlights the operational scale and focus on maintaining compliance and servicing standards. Ratings by Fitch, S&P, and Morningstar for Trimont's servicing capabilities are also detailed, ensuring their reputation within the industry is addressed.

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