Wells Fargo To Sell Non-Agency Third-party Servicing Segment Of CMS Business

(RTTNews) - Wells Fargo & Company (WFC) has entered into a definitive agreement to sell the non-Agency third-party servicing segment of Commercial Mortgage Servicing business to Trimont. Wells Fargo will continue servicing Agency/government-sponsored enterprise loans and loans held on its balance sheet. Trimont, headquartered in Atlanta, Georgia, is a specialized global commercial real estate loan servicer and advisor.

"This transaction is consistent with Wells Fargo's strategy of focusing on businesses that are core to our consumer and corporate clients," said Kara McShane, Executive Vice President, and head of Wells Fargo Commercial Real Estate.