BANK 2020-BNK26 Changes Special Servicer to Torchlight Loan Services

What Happened

• BANK 2020-BNK26 filed an 8-K (Item 6.02) announcing that, effective September 10, 2026, Torchlight Loan Services, LLC will serve as the special servicer under the BANK 2020-BNK26 pooling and servicing agreement. Torchlight is a Delaware LLC with its principal special servicing office at 90 Park Avenue, 20th Floor, New York, NY.
• As special servicer, Torchlight will handle workout, enforcement and REO responsibilities for Mortgage Loans in the securitization that become specially serviced and will perform certain reviews and administrative tasks for loans that are not specially serviced.

Key Details

• Effective date: September 10, 2026.
• Torchlight experience: servicing CMBS since December 2007 (predecessor activities since 1998); over ~$12.2 billion of U.S. commercial and multifamily loans resolved in ~28 years.
• Portfolio scale (selected dates):
  • Named specially serviced portfolio UPB: ~$27.97 billion (as of 6/30/2026).
  • Actively specially serviced portfolio: ~76 loans with aggregate unpaid principal balance of ~$5.13 billion (as of 6/30/2026).
• Personnel: 21 staff involved in special servicing as of 6/30/2026, with 6 dedicated to the special servicing unit.
• Conflicts & operations: Torchlight is not an affiliate of the depositor, servicer, trustee or other transaction parties; it may own Certificates in the secondary market and its affiliates hold commercial real estate assets that could compete with the securitized properties. Torchlight has no material primary advancing obligations for the CMBS pools.
• Legal/track record: No material legal proceedings against Torchlight were reported; no prior securitizations where Torchlight as special servicer caused an event of default or material non‑compliance disclosure.

Why It Matters

• The special servicer is the party that manages troubled loans, foreclosures and REO—actions that directly affect recovery and cash flows to certificateholders. BANK 2020-BNK26’s appointment of Torchlight means that Torchlight will make or supervise those decisions for loans in special servicing.
• Torchlight’s stated experience, portfolio scale and lack of reported material legal issues are facts investors can use to assess operational risk. Investors should note the potential for conflicts (affiliates owning similar assets) and that Torchlight may enter fee-sharing arrangements related to its appointment, which could affect incentives for loan resolution.