Trimont, a global commercial real estate loan services provider, has signed a definitive agreement to acquire Wells Fargo’s non-agency third-party Commercial Mortgage Servicing (CMS) business. This transaction, supported by Vrde Partners, will elevate Trimont’s standing as the largest loan servicer in the U.S., overseeing $640 billion of loans. The acquisition merges Trimont’s expertise in non-bank credit servicing with Wells Fargo’s specialization in securitized debt products, enabling Trimont to offer a comprehensive suite of services. CEO Bill Sexton and Vrde Partner Jim Dunbar articulated the transaction’s strategic merits, emphasizing enhanced market positioning and service offering. Wells Fargo aims to focus on core services while retaining a robust suite of commercial real estate offerings. The deal, expected to close in early 2025, has received financial advisory from J.P. Morgan Securities and Goldman Sachs, with legal advice from multiple firms.
Commercial Real Estate (CRE), Financial Services, Alternative Investments,United States, Global
https://www.globenewswire.com/news-release/2024/08/20/2932899/0/en/Trimont-Signs-Definitive-Agreement-to-Acquire-Wells-Fargo-Non-Agency-Third-Party-Commercial-Mortgage-Servicing-Business.html