Wells Fargo Bank Files Form 8-K with Securities and Exchange Commission

Strategic Insights -

Wells Fargo Bank, National Association, filed a Current Report on Form 8-K with the Securities and Exchange Commission on July 15, 2022, announcing changes to the servicing of the General Motors Building Mortgage Loan. The loan, which constituted approximately 9.96% of the asset pool of the issuing entity as of its cut-off date, will be specially serviced by Green Loan Services LLC under the BXP 2017-GM TSA. This change follows the removal of Argentic Services Company LP as special servicer and the appointment of Green Loan as the successor special servicer.

Key Takeaways:

  • Wells Fargo Bank, National Association filed a Current Report on Form 8-K with the Securities and Exchange Commission on July 15, 2022.
  • The report announces changes to the servicing of the General Motors Building Mortgage Loan, which is an asset of the issuing entity, Wells Fargo Commercial Mortgage Trust 2017-C38.
  • The loan was originally serviced by Argentic Services Company LP, but it was removed as special servicer and replaced by Green Loan Services LLC.
  • Green Loan Services LLC will specially service the loan if necessary, pursuant to the BXP 2017-GM TSA, effective July 15, 2022.
  • The General Motors Building Mortgage Loan is part of a loan combination being serviced and administered under the trust and servicing agreement dated June 9, 2017.
  • Green Loan Services LLC maintains its principal special servicing office at 1 Vanderbilt Avenue, New York, New York 10017, with a telephone number of (212) 594-2700.

Statistics:

  • The General Motors Building Mortgage Loan constitutes approximately 9.96% of the asset pool of the issuing entity, Wells Fargo Commercial Mortgage Trust 2017-C38.
  • The BXP 2017-GM TSA servicing agreement was dated June 9, 2017.
  • Green Loan Services LLC has been appointed as the successor special servicer of the General Motors Building Mortgage Loan.

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Washington D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, July 15, 2022.