Wells Fargo Bank, National Association, as the Seller, entered into a Mortgage Loan Purchase Agreement with Wells Fargo Commercial Mortgage Securities, Inc.
The agreement involves the sale and conveyance of commercial mortgage loans to create a trust with mortgage pass-through certificates.
Beneficial ownership of the Trust Fund assets will be evidenced by the Certificates and the VRR Interest.
Creation of Trust
The Purchase Agreement aims to establish a trust with a pool of commercial mortgage loans as primary assets.
Certification Process
Certain classes of Certificates will be rated by Rating Agencies, while Registered and Non-Registered Certificates will be issued under the Securities Act.
Transfer of Certificates
Wells Fargo intends to sell Registered Certificates to Underwriters and Non-Registered Certificates to Initial Purchasers.
- The agreement outlines the process of creating a trust with commercial mortgage assets and issuing Certificates.
- The sale and transfer of Certificates to Underwriters and Initial Purchasers will facilitate funding for the Mortgage Loan Seller.
The Mortgage Loan Purchase Agreement signifies a strategic move by Wells Fargo to optimize its commercial mortgage assets by creating a trust structure.