M&A - Wells Fargo Commercial Mortgage Trust 2015-LC20

Form Type: 8-K

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003171

Filing Summary: On February 28, 2025, Wells Fargo Commercial Mortgage Trust 2015-LC20 reported a corporate action involving the acquisition of the third party servicing segment of Wells Fargo Bank's commercial mortgage servicing business by Trimont LLC, effective as of the CMS Acquisition Closing Date, March 1, 2025. Trimont will act as the master servicer under the pooling and servicing agreement. This transaction does not include servicing rights for loans originated for Fannie Mae, Freddie Mac, and FHA/Ginnie Mae, which will continue under Wells Fargo. Trimont will integrate Wells Fargo's related corporate functions supporting CMS, and as a result of this transaction, Trimont will be managing a larger portfolio of serviced loans, including multifamily and commercial properties. Additionally, Trimont received various servicer ratings from Fitch, S&P, and Morningstar DBRS during the transition, some of which are under a watch status. They also established a Transition Services Agreement with Wells Fargo to assist in the operational transition for 12 months following the acquisition.

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