M&A - WFRBS Commercial Mortgage Trust 2014-LC14

Form Type: 8-K

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000188852425003217

Filing Summary: On February 28, 2025, WFRBS Commercial Mortgage Trust 2014-LC14 reported a significant corporate action involving the acquisition of the third-party servicing segment of Wells Fargo Bank, National Association's commercial mortgage servicing business by Trimont LLC. The transaction, referred to as the CMS Acquisition, marks Trimont as the new master servicer under the existing pooling and servicing agreement. As part of this transition, Trimont is tasked with assuming the rights, duties, and servicing obligations initially held by Wells Fargo. The acquisition process includes transferring substantial employee and operational resources from Wells Fargo to support the integration of the CMS servicing segment. As of the CMS Acquisition Closing Date, various service ratings for Trimont have been assigned by Fitch, S&P, and Morningstar DBRS, reflecting its capabilities in servicing commercial mortgage loans. Additionally, the report outlines partnerships with other vendors and reaffirms Trimont's commitment to managing loan servicing and compliance effectively. The document highlights that prior to this acquisition, Trimont had been active in servicing commercial and multifamily loans for over 15 years.

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