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Wells Fargo to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont

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Trimont समाचार

Commercial Mortgage

The move comes as the banking sector in the United States faces increasing pressure due to elevated interest rates and challenges in the commercial real...

- Wells Fargo will sell its non-agency third-party Commercial Mortgage Servicing business to global commercial real estate loan services provider Trimont, the companies said on Tuesday.

The deal, for which no value was disclosed, is expected to close in early 2025, pending certain conditions, and will result in Trimont managing over $715 billion in U.S. and international commercial real estate loans. Funding for the transaction will be provided by Värde Partners, an alternative investment firm, which acquired and has owned Trimont through certain funds since 2015.

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