EX-33.17 15 cik0001715824-ex3317_45.htm EX-33.17 cik0001715824-ex3317_45.htm

Exhibit 33.17

 

 

 

AEGON USA Realty Advisors, LLC

6300 C Street SW

Cedar Rapids, Iowa 52499-5554

specialservicing@aegonusa.com

 

Report on Assessment of Compliance with Applicable Servicing Criteria Pursuant to Item 1122(d) of

Regulation AB under the Securities Exchange Act of 1934

AEGON USA Realty Advisors, LLC (“AEGON”) as special servicer for the commercial mortgage backed securities transactions in Appendix B (the “Platform”) hereby provides the following report on its assessment of compliance with the applicable servicing criteria pursuant paragraph (d) of Item 1122 of Regulation AB applicable to it and as described on Appendix A hereto.

 

1.

AEGON is responsible for assessing its compliance with the servicing criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB, as of and for the 12-month period ending December 31, 2020 (the “Reporting Period”) as noted on the accompanying Appendix A;

 

2.

Except as set forth in paragraph 3 below, AEGON used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess its compliance with the applicable servicing criteria;

 

3.

The criteria listed as “N/A” in the column titled “Performed Directly by AEGON” on Appendix A hereto are inapplicable to AEGON based on the activities it performs with respect to the Platform;

 

4.

AEGON has complied, in all material respects, with the applicable servicing criteria as of December 31, 2020 and for the Reporting Period with respect to the Platform taken as a whole;

 

5.

PricewaterhouseCoopers LLP, a registered public accounting firm, has issued an attestation report on AEGON’s assessment of compliance with the applicable servicing criteria for the Reporting period.

 

AEGON USA Realty Advisors, LLC

 

/s/ Sarah Swartzendruber

Sarah Swartzendruber

Managing Director

 

March 1, 2021

 

 


 

 

 

Appendix A – Servicing Criteria Applicable to AEGON

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by

AEGON

General Servicing Considerations  

1122(d)(1)(i)

Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.

X

1122(d)(1)(ii)

If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.

XC

1122(d)(1)(iii)

Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.

N/AA

1122(d)(1)(iv)

A fidelity bond and errors and omissions policy is in effect on the party participating in  the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms the transaction agreements.

X

1122(d)(1)(v)

Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.  

X

Cash Collection and Administration

1122(d)(2)(i)

Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.

XC

1122(d)(2)(ii)

Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.

XB

1122(d)(2)(iii)

Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.

X

A  1122(d)( AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.

B  This servicing activity was not performed during the Reporting Period as there were no loans serviced on the Platform that would trigger the applicability of this criteria.

C  This servicing activity was not performed during the Reporting Period as there was no activity for serviced loans on the Platform that would trigger performance of this activity.

 


 

 

 

Appendix A (cont.)

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by

AEGON

Cash Collection and Administration (continued)

1122(d)(2)(iv)

The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.

XC

1122(d)(2)(v)

Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13K-1(b)(1) of the Securities Exchange Act.

XC

1122(d)(2)(vi)

Unissued checks are safeguarded so as to prevent unauthorized access.

XC

1122(d)(2)

(vii)

Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts.

These reconciliations:  

XC

(A) Are mathematically accurate;

(B) Are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements;

(C) Are reviewed and approved by someone other than the person who prepared the reconciliation; and

(D) Contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.

A  AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.

B  This servicing activity was not performed during the Reporting Period as there were no loans serviced on the Platform that would trigger the applicability of this criteria.  

C  This servicing activity was not performed during the Reporting Period as there was no activity for serviced loans on the Platform that would trigger performance of this activity.

 


 

 

 

Appendix A (cont.)

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by

AEGON

Investor Remittances and Reporting  

1122(d)(3)(i)

Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports:

X

 

(A) Are prepared in accordance with timeframes and other terms set forth in the transaction agreements;

(B) Provide information calculated in accordance with the terms specified in the transaction agreements;

(C) Are filed with the Commission as required by its rules and regulations; and

(D) Agree with investor’s or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the servicer.

1122(d)(3)(ii)

Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.

N/AA

1122(d)(3)(iii)

Disbursements made to an investor are posted within two business days to the servicer’s investor records, or such other number of days specified in the transaction agreements.

N/AA

1122(d)(3)(iv)

Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.

N/AA

Pool Asset Administration

1122(d)(4)(i)

Collateral or security on pool assets is maintained as required by the transaction agreements or related mortgage loan documents.

XC

1122(d)(4)(ii)

 

Pool assets and related documents are safeguarded as required by the transaction agreements.

XB

1122(d)(4)(iii)

Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.

XC

A  AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.

B  This servicing activity was not performed during the Reporting Period as there were no loans serviced on the Platform that would trigger the applicability of this criteria.  

C  This servicing activity was not performed during the Reporting Period as there was no activity for serviced loans on the Platform that would trigger performance of this activity.

 


 

 

 

 

 


 

 

 

Appendix A (cont.)

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by

AEGON

Pool Asset Administration

1122(d)(4)(iv)

Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.

XB

1122(d)(4)(v)

The servicer’s records regarding the pool assets agree with the servicer’s records with respect to an obligor’s unpaid principal balance.

N/AA

1122(d)(4)(vi)

Changes with respect to the terms or status of an obligor’s pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.

XC

1122(d)(4)

(vii)

Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated,

conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.

X

1122(d)(4)

(viii)

Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).

X

A  AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.

B  This servicing activity was not performed during the Reporting Period as there were no loans serviced on the Platform that would trigger the applicability of this criteria.

C  This servicing activity was not performed during the Reporting Period as there was no activity for serviced loans on the Platform that would trigger performance of this activity.

 

 


 

 

 

Appendix A (cont.)

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by  

AEGON

Pool Asset Administration (continued)

1122(d)(4)(ix)

Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.

N/AA

1122(d)(4)(x)

Regarding any funds held in trust for an obligor (such as escrow accounts):

N/AA

(A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements;

(B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and

(C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements.

1122(d)(4)(xi)

Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.

N/AA

1122(d)(4)

(xii)

Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.

N/AA

1122(d)(4)

(xiii)

Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.

N/AA

1122(d)(4)

(xiv)

 

Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.

N/AA

A AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.


 


 

 

 

 

Appendix A (cont.)

 

 

SERVICING CRITERIA

APPLICABLE

SERVICING CRITERIA

Reference

Criteria

Performed Directly by  

AEGON

Pool Asset Administration (continued)

1122(d)(4) (xv)

Any external enhancement or other support, identified in

Item 1114(a)(1) through (3) or Item 1115 of this Regulation AB, is maintained as set forth in the transaction agreements.

N/AA

A AEGON has determined servicing criteria 1122(d)(1)(iii), 1122(d)(3)(ii), 1122(d)(3)(iii), 1122(d)(3)(iv), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii), 1122(d)(4)(xiv) and 1122(d)(4)(xv) to be inapplicable to the activities AEGON performs with respect to the Platform.

 

 


 

 

 

Appendix B – Commercial Mortgage Backed Securities Transactions included in AEGON’s

Platform

 

Master

 

 

Servicer

Deal Name

Loan Specific Name

Berkadia

MSC 2013-ALTM

 

KeyBank

COMM 2013-300P

  

  

GSMS 2016-RENT

Mezzanine B Note

  

SHOPS 2016-CSTL

  

  

COMM 2016-667M

  

 

CSMC 2017-LSTK

 

 

CSMC 2017-MOON

 

 

GSMS 2017-FARM

 

 

BX 2018-BIOA

 

 

DBGS 2018-BIOD

 

 

JPMCC 2018-AON

 

 

BBCMS 2017-DELC

 

 

CGDBB 2017-BIOC

 

 

BX 2019-RP

 

 

COMM 2016-GCT

 

 

SGCMS 2019-PREZ

 

 

BX 2019-XL

 

 

BX 2018-GW

 

 

BX 2018-BILT

 

 

JPMCC 2018-PHH

 

 

MSC 2018-SUN

 

Midland

PRMA CDO-III

 

 

PRMA CDO-IV

 

 

PRMA CDO-V

 

 

BACM 2015-UBS7

200 Helen St

 

CSAIL 2015-C3

Charles River Plaza North

 

GSMS 2017-485L

 

 

CGCMT 2018-TBR

 

 

UBSCM 2018-C9

DreamWorks Headquarters

 

IPT 2018-INDP

 

 

BAMLL 2018-PARK

 

 

BAMLL 2019-BPR

 

USBank

PRMA CDO-VI

 

Wells Fargo

GSMS 2017-375H

 

  

UBSCM 2017-C4

Fairmount at Brewerytown

 

BAMLL 2013-WBRK

 

 

WFLD 2014-MONT

 

 

BAMLL 2015-200P

 

 

 


 

 

BAMLL 2015-HAUL

 

 

BAMLL 2015-ASTR

  

 

GSMS 2015-590M

 

 

BAMLL 2016-SS1

 

 

BAMLL 2016-ISQ

 

 

BBCMS 2016-ETC

 

 

HY 2016-10HY

  

 

CFCRE 2016-C6

Potomac Mills

 

GSMS 2016-GS4

225 Bush Street

 

DBWF 2016-85T

  

 

PRKAV 2017-245P

 

 

UBSCM 2017-C1

SaveMart

 

HMH 2017-NSS

 

 

BXP 2017-GM

  

 

IMTT 2017-APTS

 

 

MAD 2017-330M

 

 

BXP 2017-CC

 

 

DBUBS 2017-BRBK

 

 

WFCM 2017-HSDB

 

 

BAMLL 2017-SCH

The Sheraton Grand Chicago - Leased Fee

 

WFCM 2017-SMP

 

 

WFCM 2018-Bxi

 

 

NCMS 2018-ALXA

 

 

DBWF 2018-AMXP

 

 

BANK 2018-BN12

Fair Oaks Mall

 

COMM 2018-HOME

 

 

WFCM 2018-1745

 

 

NCMS 2018-FL1  

 

 

WFCM 2018-AUS

 

 

BX 2018-EXCL

 

 

BX 2018-IND

 

 

SGCMS 2019-787E

 

 

JAX 2019-LIC

 

 

SGCMS 2020-COVE

 

 

UBSCM 2018-NYCH

 

 

BX 2017-CQHP

 

 

FTST 2006-4TS