Reported about 2 months ago
Wells Fargo has agreed to sell the majority of its commercial mortgage servicing business to Trimont LLC, which will elevate Trimont to the status of the largest US commercial mortgage servicer. The deal, expected to be finalized early next year, involves Wells Fargo transferring servicing responsibilities for approximately $475 billion in loans. This sale aligns with Wells Fargo's strategy to focus on core businesses while Trimont aims to capitalize on upcoming debt servicing opportunities.
Source: YAHOO