BANK 2020-BNK25 Appoints Torchlight as General Special Servicer

What Happened
BANK 2020-BNK25 filed an 8‑K reporting that CWCapital Asset Management LLC (CWCAM) was removed as the general special servicer and Torchlight Loan Services, LLC was appointed successor general special servicer under the Pooling and Servicing Agreement, effective September 10, 2026. Torchlight will be responsible for servicing and administering the Specially Serviced Loans and REO Properties under the agreement, except for any Non‑Serviced Mortgage Loan and any NCB Mortgage Loan.

Key Details

• Effective date: September 10, 2026; appointment made pursuant to Section 7.01(d) of the Pooling and Servicing Agreement.
• Torchlight background: Delaware LLC (90 Park Ave, 20th Floor, New York), wholly owned by Torchlight Investors, LLC; servicing CMBS assets since December 2007 and its predecessor since 1998; has resolved over $12.2 billion of U.S. commercial and multifamily loans.
• Portfolio/staff metrics (as of 6/30/2026): named specially serviced CMBS pools aggregate unpaid principal balance ≈ $27,969,648,306; actively specially serviced portfolio ≈ 76 loans with aggregate unpaid principal balance ≈ $5,127,175,307; 21 personnel involved in special servicing, 6 dedicated to that unit.
• Other facts: Torchlight is not an affiliate of the Issuing Entity or other transaction parties, has no material primary advancing obligations for the pools it services, no material legal proceedings are pending against it, and it may enter discount/revenue‑sharing arrangements with directing certificateholders.

Why It Matters
A change in the general special servicer affects who handles troubled loans and real‑estate owned (REO) assets — influencing workout strategies, enforcement actions and timing of recoveries that matter to certificateholders. The filing emphasizes Torchlight’s CMBS workout experience, its active portfolio size, and lack of known material legal issues, which are relevant indicators of its capacity to perform the servicing role. Investors should note the effective date (Sept 10, 2026) and that Torchlight may enter compensation arrangements with directing certificateholders, which could affect servicer economics (as disclosed).