M&A - COMM 2018-COR3 Mortgage Trust

Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003389

Filing Summary: On February 28, 2025, COMM 2018-COR3 Mortgage Trust filed Form 8-K regarding the acquisition of the third-party servicing segment of Wells Fargo Bank's commercial mortgage servicing business by Trimont LLC, effective as of March 1, 2025. This acquisition involves Trimont becoming the master servicer for specific mortgage loans, including those pertaining to the Atlantic Times Square and Lehigh Valley Mall. The acquisition has led to certain ratings changes as Trimont integrates these operations and assumes servicing agreements from Wells Fargo. The CMS Transaction does not include servicing rights for loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which remain with Wells Fargo. Additionally, under a Transition Services Agreement, Wells Fargo will assist Trimont for 12 months post-acquisition to ensure a smooth transition. This strategic acquisition places Trimont as a key player in commercial mortgage servicing, enhancing their capacity and portfolio significantly at a crucial time in the market.