8-K 1 comm2012ccre3_8k.htm Form 8K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

October 17, 2022
Date of Report (Date of Earliest Event Reported)

Commission File Number of issuing entity: 333-172143-06
Central Index Key Number of issuing entity: 0001556487

COMM 2012-CCRE3 Mortgage Trust
(Exact name of issuing entity as specified in its charter)

Commission File Number of registrant: 333-172143
Central Index Key Number of registrant: 0001013454

Deutsche Mortgage & Asset Receiving Corporation
(Exact name of registrant as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001558761
Cantor Commercial Real Estate Lending, L.P.
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001541294
German American Capital Corporation
(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0001541468
Ladder Capital Finance LLC
(Exact name of sponsor as specified in its charter)

Lainie Kaye (212) 250-2500
(Name and telephone number, including area code, of the person to
contact in connection with this filing)

New York
(State or other jurisdiction of incorporation or organization
of the issuing entity)

Lower Tier Remic 46-1194453
Upper Tier Remic 46-1412891
Grantor Trust 46-6373885
(I.R.S. Employer Identification No.)

c/o Deutsche Bank Trust Company Americas as Certificate Administrator
1761 East St. Andrew Place, Santa Ana CA
(Address of principal executive offices of the issuing entity)

92705
(Zip Code)

(212) 250-2500
(Telephone number, including area code)

NONE
(Former name, former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simulaneously
satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under teh Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
None

Trading Symbol(s)
None

Name of each exchange on which registered
None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(240.12b-2 of this chapter).
[ ] Emerging growth company
[ ] If an emerging growth company, indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act.

Item 6.02. Change of Servicer or Trustee.

Pursuant to an Assignment and Assumption Agreement, dated as of January 28, 2022, between
U.S. Bank National Association, a national banking association ("U.S. Bank N.A."), and U.S.
Bank Trust Company, National Association, a national banking association ("U.S. Bank Trust Co."),
and as a result of the transfer of substantially all of U.S. Bank N.A.'s corporate trust
business to U.S. Bank Trust Co., effective as of October 17, 2022, U.S. Bank Trust Co. succeeded
U.S. Bank N.A. as trustee (in such capacity, the "Trustee") under the pooling and servicing,
dated as of October 1, 2012, among Deutsche Mortgage & Asset Receiving Corporation, as depositor,
Wells Fargo Bank, National Association, as master servicer, KeyBank National Association as successor
to Midland Loan Services, a Division of PNC Bank, National Association, as special servicer, U.S.
Bank N.A., as trustee, Deutsche Bank Trust Company Americas, as certificate administrator, paying
agent and custodian, and Situs Holdings, LLC, as operating advisor, relating to the COMM 2012-CCRE3
Mortgage Trust filed as Exhibit 4.1 to the registrant's Current Report on Form 8-K/A filed on
November 21, 2012 (the "Pooling and Servicing Agreement").  In connection therewith, U.S. Bank
N.A. transferred its duties, rights and liabilities with such role under the relevant transaction
agreements to U.S. Bank Trust Co.

U.S. Bank N.A. made a strategic decision to reposition its corporate trust business by transferring
substantially all of its corporate trust business to its affiliate, U.S. Bank Trust Co., a
non-depository trust company (U.S. Bank N.A. and U.S. Bank Trust Co. are collectively referred to
herein as "U.S. Bank.").  Upon U.S. Bank Trust Co.'s succession to the business of U.S. Bank N.A.,
it became a wholly owned subsidiary of U.S. Bank N.A.

U.S. Bancorp, with total assets exceeding $591 billion as of June 30, 2022, is the parent company
of U.S. Bank N.A., the fifth largest commercial bank in the United States.  As of June 30, 2022,
U.S. Bancorp operated over 2,200 branch offices in 26 states. A network of specialized U.S. Bancorp
offices across the nation provides a comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses, and institutions.

U.S. Bank has one of the largest corporate trust businesses in the country with office locations in
48 domestic and 2 international cities.  The Pooling and Servicing Agreement will be administered
from U.S. Bank's corporate trust office located at 190 South LaSalle Street, 7th floor, Mail
code MK-IL-SL7C, Chicago, IL 60603.

U.S. Bank has provided corporate trust services since 1924.  As of June 30, 2022, U.S. Bank was
acting as trustee with respect to over 122,000 issuances of securities with an aggregate outstanding
principal balance of over $5.5 trillion.  This portfolio includes corporate and municipal bonds,
mortgage-backed and asset-backed securities and collateralized debt obligations.

As of June 30, 2022, U.S. Bank (and its affiliate U.S. Bank Trust National Association) was
acting as trustee on 538 issuances of commercial mortgage-backed securities with an outstanding
aggregate principal balance of approximately $395,381,100,000.

U.S. Bank N.A. and other large financial institutions have been sued in their capacity as
trustee or successor trustee for certain residential mortgage-backed securities ("RMBS")
trusts.  The complaints, primarily filed by investors or investor groups against U.S. Bank
N.A. and similar institutions, allege the trustees caused losses to investors as a result of
alleged failures by the sponsors, mortgage loan sellers and servicers to comply with the governing
agreements for these RMBS trusts.  Plaintiffs generally assert causes of action based upon the
trustees' purported failures to enforce repurchase obligations of mortgage loan sellers for alleged
breaches of representations and warranties, notify securityholders of purported events of default
allegedly caused by breaches of servicing standards by mortgage loan servicers and abide by a
heightened standard of care following alleged events of default.

U.S. Bank N.A. denies liability and believes that it has performed its obligations under
the RMBS trusts in good faith, that its actions were not the cause of losses to investors,
that it has meritorious defenses, and it has contested and intends to continue contesting
the plaintiffs' claims vigorously.  However, U.S. Bank N.A. cannot assure you as to the
outcome of any of the litigation, or the possible impact of these litigations on the trustee
or the RMBS trusts.

On March 9, 2018, a law firm purporting to represent fifteen Delaware statutory trusts
(the "DSTs") that issued securities backed by student loans (the "Student Loans") filed a
lawsuit in the Delaware Court of Chancery against U.S. Bank N.A. in its capacities as indenture
trustee and successor special servicer, and three other institutions in their respective
transaction capacities, with respect to the DSTs and the Student Loans.  This lawsuit is captioned
The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association,
et al., C.A. No. 2018-0167-JRS (Del. Ch.) (the "NCMSLT Action").  The complaint, as amended on
June 15, 2018, alleged that the DSTs have been harmed as a result of purported misconduct or
omissions by the defendants concerning administration of the trusts and special servicing of
the Student Loans.  Since the filing of the NCMSLT Action, certain Student Loan borrowers have
made assertions against U.S. Bank N.A. concerning special servicing that appear to be based on
certain allegations made on behalf of the DSTs in the NCMSLT Action.

U.S. Bank N.A. has filed a motion seeking dismissal of the operative complaint in its entirety
with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in the alternative,
a stay of the case while other prior filed disputes involving the DSTs and the Student Loans
are litigated.  On November 7, 2018, the Court ruled that the case should be stayed in its entirety
pending resolution of the first-filed cases.  On January 21, 2020, the Court entered an order
consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the
Delaware Court of Chancery concerning the DSTs and the Student Loans, which remains pending.

U.S. Bank N.A. denies liability in the NCMSLT Action and believes it has performed its obligations
as indenture trustee and special servicer in good faith and in compliance in all material respects
with the terms of the agreements governing the DSTs and that it has meritorious defenses.  It has
contested and intends to continue contesting the plaintiffs' claims vigorously.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Deutsche Mortgage & Asset Receiving Corporation
(Depositor)


/s/ R. Chris Jones
Name:  R. Chris Jones
Title: Director


/s/ Matt Smith
Name:  Matt Smith
Title: Director



Date:    October 17, 2022