BANK 2018-BNK13 8-K
Research Summary
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BANK 2018-BNK13 Reports Change of General Special Servicer
What Happened
BANK 2018-BNK13 filed a Form 8-K (Item 6.02) reporting that, effective May 7, 2026, Mount Street US (Georgia) LLP (“MSUS”) was removed as the general special servicer under the Pooling and Servicing Agreement dated August 1, 2018. Torchlight Loan Services, LLC (“Torchlight”) was appointed as the successor general special servicer. In that role Torchlight will be responsible for the servicing and administration of the Specially Serviced Loans and REO Properties under the Pooling and Servicing Agreement (excluding any Non‑Serviced Mortgage Loans and any Excluded Loans).
Key Details
- Effective date: May 7, 2026.
- Removed servicer: Mount Street US (Georgia) LLP (MSUS).
- Successor servicer: Torchlight Loan Services, LLC (principal special servicing office: 90 Park Avenue, 20th Floor, New York, NY 10016; phone: 212-883-2800).
- Scope: Torchlight will handle Specially Serviced Loans and REO Properties per the PSA dated August 1, 2018 (PSA previously filed as Exhibit 4.1 to the Issuing Entity’s Form 8‑K on August 2, 2018).
Why It Matters
A servicer change shifts responsibility for borrower workouts, loss mitigation and REO management to a new firm; that can affect how loans and real‑estate owned assets are managed and, indirectly, timing of cash flows to security holders. The filing does not disclose any fees, financial terms or expected impact on cash flows—this is an operational change notice. Investors in securities tied to BANK 2018‑BNK13 should note the change and watch for further servicer performance updates or supplemental disclosures.
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