0001056404-20-010024.txt : 20200910 0001056404-20-010024.hdr.sgml : 20200910 20200910121218 ACCESSION NUMBER: 0001056404-20-010024 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20191231 0001004158 0001541502 FILED AS OF DATE: 20200910 DATE AS OF CHANGE: 20200910 ABS ASSET CLASS: Commercial mortgages FILER: COMPANY DATA: COMPANY CONFORMED NAME: GS Mortgage Securities Trust 2019-GC42 CENTRAL INDEX KEY: 0001787000 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-226082-04 FILM NUMBER: 201168172 BUSINESS ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 BUSINESS PHONE: 2129021000 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 10-K/A 1 gsm19g42_10ka-2019.htm gsm19g42_10ka-2019.htm - Generated by SEC Publisher for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

(Amendment No. 1)

(Mark One)

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

For the fiscal year ended December 31, 2019

or

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

For the transition period from _____ to _____

Commission file number of the issuing entity: 333-226082-04

Central Index Key Number of the issuing entity: 0001787000

GS Mortgage Securities Trust 2019-GC42

(exact name of the issuing entity as specified in its charter)

 

Central Index Key Number of the depositor: 0001004158

GS Mortgage Securities Corporation II

(exact name of the depositor as specified in its charter)

 

Central Index Key Number of the sponsor: 0001541502

Goldman Sachs Mortgage Company

(exact name of the sponsor as specified in its charter)

 

Central Index Key Number of the sponsor: 0001701238

Citi Real Estate Funding Inc.

(exact name of the sponsor as specified in its charter)

 

Central Index Key Number of the sponsor: 0001541294

German American Capital Corporation

(exact name of the sponsor as specified in its charter)

 

New York
(State or other jurisdiction of
incorporation or organization of

the issuing entity)

38-4123695

38-4123696

38-7221372

(I.R.S. Employer

Identification Numbers)


c/o Wells Fargo Bank, National Association

as Certificate Administrator

9062 Old Annapolis Road

Columbia, MD

(Address of principal executive offices of the issuing entity)

21045

(Zip Code)

Registrant’s telephone number, including area code:

(212) 902-1000

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

 

 

Securities registered pursuant to Section 12(g) of the Act:  None.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  o Yes ⌧ No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  o Yes ⌧ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  ⌧ Yes o No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Not applicable.

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  

Not applicable.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer        o                                                                                                        Accelerated filer                                      o

Non-accelerated filer          ⌧  (Do not check if a smaller reporting company)                            Smaller reporting company                     o

                                                                                                                                                        Emerging growth company                     o

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.  o

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  o Yes ⌧ No

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

Not applicable.

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.  o Yes o No

Not applicable.

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Not applicable.

DOCUMENTS INCORPORATED BY REFERENCE

 

List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).

Not applicable.

 

 

EXPLANATORY NOTES

The sole purpose of this Amendment No. 1 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission on March 19, 2020 (the “Original Form 10-K”) is to replace the report on assessment of compliance of Situs Holdings, LLC filed as an exhibit to the Original Form 10-K under Exhibit 33 with the corresponding exhibit attached hereto.  Except as described above, no other changes are being made to the Original Form 10-K.

Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Form 10-K/A also contains new certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, which are attached hereto. 

PART IV

Item 15. Exhibits, Financial Statement Schedules

31            Rule 13a-14(d)/15d-14(d) Certifications.

33            Reports on assessment of compliance with servicing criteria for asset-backed securities.

33.27       Situs Holdings, LLC, as Special Servicer of the Moffett Towers II Buildings 3 & 4 Mortgage Loan

33.36       Situs Holdings, LLC, as Special Servicer of the 30 Hudson Yards Mortgage Loan (see Exhibit 33.27)

 

 

 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

GS Mortgage Securities Corporation II
(Depositor)

/s/ Leah Nivison

 

 

Leah Nivison, Chief Executive Officer

(senior officer in charge of securitization of the depositor)

Date: September 10, 2020

 

 

 EX-31 2 gsm19g42_31.htm gsm19g42_31.htm - Generated by SEC Publisher for SEC Filing

 

EX-31 Rule 13a-14(d)/15d-14(d) Certifications.

 

 

I, Leah Nivison, certify that:

 

1. I have reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report on Form 10-K of the GS Mortgage Securities Trust 2019-GC42 (the "Exchange Act periodic reports");

 

2. Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports;

 

4. Based on my knowledge and the servicer compliance statements required in this report under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements in all material respects; and

 

5. All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K.

 

In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties:

 

Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, Wells Fargo Bank, National Association , as Trustee and Certificate Administrator, Wells Fargo Bank, National Association , as Custodian, Park Bridge Lender Services LLC, as Operating Advisor, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Diamondback Industrial Portfolio 1 Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer for the Diamondback Industrial Portfolio 1 Mortgage Loan, Wells Fargo Bank, National Association , as Trustee for the Diamondback Industrial Portfolio 1 Mortgage Loan, Wells Fargo Bank, National Association , as Custodian for the Diamondback Industrial Portfolio 1 Mortgage Loan, Pentalpha Surveillance LLC, as Operating Advisor for the Diamondback Industrial Portfolio 1 Mortgage Loan, KeyBank National Association, as Primary Servicer for the Moffett Towers II Buildings 3 & 4 Mortgage Loan, Situs Holdings, LLC, as Special Servicer for the Moffett Towers II Buildings 3 & 4 Mortgage Loan, Wells Fargo Bank, National Association, as Trustee for the Moffett Towers II Buildings 3 & 4 Mortgage Loan, Wells Fargo Bank, National Association, as Custodian for the Moffett Towers II Buildings 3 & 4 Mortgage Loan, Wells Fargo Bank, National Association , as Primary Servicer for the 30 Hudson Yards Mortgage Loan, Situs Holdings, LLC, as Special Servicer for the 30 Hudson Yards Mortgage Loan, Wilmington Trust, National Association, as Trustee for the 30 Hudson Yards Mortgage Loan, Wells Fargo Bank, National Association , as Custodian for the 30 Hudson Yards Mortgage Loan, CoreLogic Commercial Real Estate Services, Inc., as Servicing Function Participant for the 30 Hudson Yards Mortgage Loan, National Tax Search, LLC, as Servicing Function Participant for the 30 Hudson Yards Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Grand Canal Shoppes Mortgage Loan, LNR Partners, LLC, as Special Servicer for the Grand Canal Shoppes Mortgage Loan, Wells Fargo Bank, National Association , as Trustee for the Grand Canal Shoppes Mortgage Loan, Wells Fargo Bank, National Association , as Custodian for the Grand Canal Shoppes Mortgage Loan, Pentalpha Surveillance LLC, as Operating Advisor for the Grand Canal Shoppes Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Woodlands Mall Mortgage Loan, Pacific Life Insurance Company, as Special Servicer for the Woodlands Mall Mortgage Loan, Wilmington Trust, National Association, as Trustee for the Woodlands Mall Mortgage Loan, Citibank, N.A., as Custodian for the Woodlands Mall Mortgage Loan, Pentalpha Surveillance LLC, as Operating Advisor for the Woodlands Mall Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the Woodlands Mall Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the U.S. Industrial Portfolio V Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the U.S. Industrial Portfolio V Mortgage Loan, Wilmington Trust, National Association, as Trustee for the U.S. Industrial Portfolio V Mortgage Loan, Citibank, N.A., as Custodian for the U.S. Industrial Portfolio V Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the U.S. Industrial Portfolio V Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the U.S. Industrial Portfolio V Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the USAA Office Portfolio Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the USAA Office Portfolio Mortgage Loan, Wilmington Trust, National Association, as Trustee for the USAA Office Portfolio Mortgage Loan, Citibank, N.A., as Custodian for the USAA Office Portfolio Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the USAA Office Portfolio Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the USAA Office Portfolio Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Millennium Park Plaza Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the Millennium Park Plaza Mortgage Loan, Wilmington Trust, National Association, as Trustee for the Millennium Park Plaza Mortgage Loan, Citibank, N.A., as Custodian for the Millennium Park Plaza Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the Millennium Park Plaza Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the Millennium Park Plaza Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Powered Shell Portfolio - Manassas Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the Powered Shell Portfolio - Manassas Mortgage Loan, Wilmington Trust, National Association, as Trustee for the Powered Shell Portfolio - Manassas Mortgage Loan, Citibank, N.A., as Custodian for the Powered Shell Portfolio - Manassas Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the Powered Shell Portfolio - Manassas Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the Powered Shell Portfolio - Manassas Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Powered Shell Portfolio - Ashburn Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the Powered Shell Portfolio - Ashburn Mortgage Loan, Wilmington Trust, National Association, as Trustee for the Powered Shell Portfolio - Ashburn Mortgage Loan, Citibank, N.A., as Custodian for the Powered Shell Portfolio - Ashburn Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the Powered Shell Portfolio - Ashburn Mortgage Loan, U.S. Bank National Association, as Servicing Function Participant for the Powered Shell Portfolio - Ashburn Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Primary Servicer for the Pharr Town Center Mortgage Loan, Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer for the Pharr Town Center Mortgage Loan, Wells Fargo Bank, National Association , as Trustee for the Pharr Town Center Mortgage Loan, Wells Fargo Bank, National Association , as Custodian for the Pharr Town Center Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the Pharr Town Center Mortgage Loan, Wells Fargo Bank, National Association , as Primary Servicer for the 105 East 17th Street Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the 105 East 17th Street Mortgage Loan, Wilmington Trust, National Association, as Trustee for the 105 East 17th Street Mortgage Loan, Wells Fargo Bank, National Association , as Custodian for the 105 East 17th Street Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the 105 East 17th Street Mortgage Loan, CoreLogic Commercial Real Estate Services, Inc., as Servicing Function Participant for the 105 East 17th Street Mortgage Loan, National Tax Search, LLC, as Servicing Function Participant for the 105 East 17th Street Mortgage Loan, Wells Fargo Bank, National Association , as Primary Servicer for the Midland Office Portfolio Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the Midland Office Portfolio Mortgage Loan, Wilmington Trust, National Association, as Trustee for the Midland Office Portfolio Mortgage Loan, Citibank, N.A., as Custodian for the Midland Office Portfolio Mortgage Loan, Park Bridge Lender Services LLC, as Operating Advisor for the Midland Office Portfolio Mortgage Loan, CoreLogic Commercial Real Estate Services, Inc., as Servicing Function Participant for the Midland Office Portfolio Mortgage Loan, National Tax Search, LLC, as Servicing Function Participant for the Midland Office Portfolio Mortgage Loan, and U.S. Bank National Association, as Servicing Function Participant for the Midland Office Portfolio Mortgage Loan.

 

 

 

Dated: September 10, 2020

 

 

/s/ Leah Nivison

 

 

Chief Executive Officer

(senior officer in charge of securitization of the depositor)

 

 EX-33.27 3 gsm19g42_33-27.htm gsm19g42_33-27.htm - Generated by SEC Publisher for SEC Filing

(logo) SitusAMC®

 

 

MANAGEMENT'S ASSERTION ON COMPLIANCE WITH SEC REGULATION AB

SERVICING CRITERIA

 

 

1.  Situs Holdings, LLC (the "Company" or "Situs”), a wholly-owned subsidiary of SitusAMC Holdings Corporation, is responsible for assessing compliance with the servicing criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB of the Securities and Exchange Commission ("SEC”), as of and for the year ended December 31, 2019 (the "Reporting Period”), as set forth in Appendix A hereto. The transactions covered by this report (collectively referred to as the "Special Servicing Platform" or the "Platform”) include asset-backed transactions and securities. This includes the asset-backed transactions and securities for which Situs acted as a special servicer, involving commercial mortgage loans, as defined in Appendix B.

 

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

 

3.  The criteria listed in the column titled "Inapplicable Servicing Criteria" in Appendix A hereto are inapplicable to the Company based on the activities it performed, directly or through its Vendors, with respect to the Platform for the Reporting Period.

 

4.  During the Reporting Period, there were no additions, removals, or substitutions to the asset pools, therefore the Company did not perform any servicing activities related to criteria 1122(d)(4)(iii) as of and for the year ended December 31, 2019.

 

5.  During the Reporting Period, there were no active assets carrying an escrow balance maintained by Situs or escrow disbursements due to be paid by Situs, therefore the Company did not perform any servicing activities related to criteria 1122(d)(4)(x)-(xiii) as of and for the year ended December 31, 2019. The only portfolio active during any part of the year ended December 31, 2019 to which these criterion are required to be considered per the corresponding transaction agreement was CSMC 2006-C1.

 

6.  During the Reporting Period, there were no loans charged off or accounts determined to be uncollectible, therefore the Company did not perform any servicing activities related to criteria 1122(d)(4)(xiv) as of and for the year ended December 31, 2019. The only portfolio active during any part of the year ended December 31, 2019 to which this criteria is required to be considered per the corresponding transaction agreement was CSMC 2006-C1.

 

7.  With respect to servicing criteria 1122(d)(2)(vii), the Company has engaged various Vendors to perform some or all of the activities required by these servicing criteria. Management has determined that these Vendors are not considered a "servicer" as defined in Item 1101(j) of Regulation AB, and has elected to take responsibility for assessing compliance with the servicing criteria applicable to each Vendor as permitted by the SEC's Compliance & Disclosure Interpretation 200.06, Vendors Engaged by Servicers (“C&D1200.06"), formerly Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly Available Telephone Interpretations. As permitted by C&DI 200.06, management asserts that it has policies and procedures in place designed to provide reasonable assurance that the Vendor's activities comply in all material respects with the servicing criteria applicable to each Vendor. Management is not aware of any material deficiencies in such policies and procedures or any material instances of non-compliance of the servicing criteria as relates to the Company by such Vendors. Management is solely responsible for determining that it meets the SEC requirements to apply C&DI 200.06 for the Vendors and related criteria.

 

8.   The Company has complied, in all material respects, with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB, as of December 31, 2019 and for the Reporting Period with respect to the Platform taken as a whole.

 

9.  Grant Thornton LLP, an independent registered public accounting firm, has issued an attestation report on the Company’s assertion on compliance with the applicable servicing criteria for the Reporting Period.

 

 

Situs Holdings, LLC

February 20, 2020

 

 

/s/ George Wisniewski

George Wisniewski

Executive Managing Director

 

 

Appendix A – Applicable Servicing Criteria

SERVICING CRITERIA

APPLICABLE SERVICING CRITERIA

INAPPLICABLE SERVICING CRITERIA

Reference

Criteria

Performed Directly by Situs

Performed by Vendor(s) for which Situs is the Responsible Party

Performed by subservicer(s) or Vendor(s) for which Situs is NOT the Responsible Party

NOT performed by Situs or by subservicer(s) or Vendor(s) retained by Situs

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.

X

 

 

 

1122(d)(1)(iii)

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

 

 

 

X

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 of 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 of receipt, or such other number of days specified in the transaction agreements.

X

 

 

 

1122(d)(2)(ii)

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

X

 

 

 

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

 

 

 

 

SERVICING CRITERIA

APPLICABLE SERVICING CRITERIA

INAPPLICABLE SERVICING CRITERIA

Reference

Criteria

Performed Directly by Situs

Performed by Vendor(s) for which Situs is the Responsible Party

Performed by subservicer(s) or Vendor(s) for which Situs is NOT the Responsible Party

NOT performed by Situs or by subservicer(s) or Vendor(s) retained by Situs

1122(d)(2)(iv)

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

X

 

 

 

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 §240.13k-1(b)(1) of this chapter.

X

 

 

 

1122(d)(2)(vi)

Unissued checks are safeguarded so as to prevent unauthorized access.

X

 

 

 

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: (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.

X1

X1

 

 

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: (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 investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the servicer.

X2

 

 

 

 

SERVICING CRITERIA

APPLICABLE SERVICING CRITERIA

INAPPLICABLE SERVICING CRITERIA

Reference

Criteria

Performed Directly by Situs

Performed by Vendor(s) for which Situs is the Responsible Party

Performed by subservicer(s) or Vendor(s) for which Situs is NOT the Responsible Party

NOT performed by Situs or by subservicer(s) or Vendor(s) retained by Situs

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.

 

 

 

X

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.

 

 

 

X

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.

 

 

 

X

Pool Asset Administration

1122(d)(4)(i)

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

X

 

 

 

1122(d)(4)(ii)

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

X

 

 

 

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.

X

 

 

 

1122(d)(4)(iv)

Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable 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.

 

 

 

X

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.

 

 

 

X

 

SERVICING CRITERIA

APPLICABLE SERVICING CRITERIA

INAPPLICABLE SERVICING CRITERIA

Reference

Criteria

Performed Directly by Situs

Performed by Vendor(s) for which Situs is the Responsible Party

Performed by subservicer(s) or Vendor(s) for which Situs is NOT the Responsible Party

 

NOT performed by Situs or by subservicer(s) or Vendor(s) retained by Situs

1122(d)(4)(vi)

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

X

 

 

 

1122(d)(4)(vii)

Loss mitigation or recovery actions (e.g. forbearance plans, modifications and deeds in lieu of foreclosure, foreclosure and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the a 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

 

 

 

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.

 

 

 

X

1122(d)(4)(x)

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

X3

 

 

 

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.

X3

 

 

 

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.

X3

 

 

 

 

SERVICING CRITERIA

APPLICABLE SERVICING CRITERIA

INAPPLICABLE SERVICING CRITERIA

Reference

 

 

Criteria

 

 

 

 

 

Performed Directly by Situs

Performed by Vendor(s) for which Situs is the Responsible Party

Performed by subservicer(s) or Vendor(s) for which Situs is NOT the Responsible Party

NOT performed by Situs or by subservicer(s) or Vendor(s) retained by Situs

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.

X3

 

 

 

1122(d)(4)(xiv)

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

X4

 

 

 

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.

 

 

 

X

 

 

1 Servicing activities associated with criterion 1122(d)(2)(vii) are performed by Situs and a third party vendor for which Situs is the responsible party.

 

2 For criterion 1122(d) (3)(i)(B-D), Situs did not perform the activity described in this criterion for the Reporting Period as these components of 1122(d)(3)(i) are inapplicable to the functions performed by Situs. No assessment of compliance, therefore, is necessary.

 

3 Servicing activities associated with criteria 1122(d)(4)(x-xiii) are only in-scope for the ‘CSMC-2006 C1’ portfolio. These servicing criteria are inapplicable for all other servicing criteria for all other portfolios on the Platform. Refer to Appendix B of this Management’s Assertion for the in-scope portfolios.

 

4 Servicing activities associated with criterion 1122(d)(4)(xiv) is only in-scope for the ‘CSMC-2006 C1’ portfolio. This criteria is an inapplicable servicing criteria for all other portfolios on the Platform. Refer to Appendix B of this Management’s Assertion for the in-scope portfolios.

 

 

APPENDIX B -The Platform

 

Portfolio

Servicing Agreement Date

Active for any part of the Year Ended 12/31/2019

Banc of California 2019-Q010

July 1, 2019

  

BANK 2019-BNK18

May 1, 2019

  

BBCMS 2019-C4

August 1, 2019

  

Benchmark 2019-B12

August 1, 2019

  

BFLD 2019-DPLO

October 9, 2019

  

BSPRT 2018-FL3

April 5, 2018

  

BSPRT 2018-FL4

October 12, 2018

  

BSPRT 2019-FL5

May 30, 2019

  

BWAY 2019-1633

December 20, 2019

  

BX 2019-CALM

December 12, 2019

  

BX 2019-OC11

December 1, 2019

  

CAF 2016-1

May 1, 2016

X

CAF 2016-2

November 15, 2016

X

CAF 2018-l

June 9, 2018

X

CAF 2019-1

April 9, 2019

X

CAF 2019-2

July 9, 2019

X

CAF 2019-3

November 9, 2019

  

CGCMT 2019-GC41

August 1, 2019

  

COMM 2007-C9

August 1, 2007

X

COMM 2013-CCRE7

April 1, 2013

X

COMM 2013-CCRE11

October 1, 2013

X

COMM 2019-521F

June 20, 2019

  

COMM 2019-WCM

October 30, 2019

  

CSAIL 2019-C18

December 1, 2019

  

CSMC 2006-C1

March 1, 2006

X

CSMC 2019-ICE4

June 5, 2019

  

DBGS 2019-1735

April 6, 2019

  

First Foundation 2018-Q007

September 1, 2018

  

First Foundation 2019-Q011

September 1, 2019

  

First Republic 2018-Q008

December 1, 2018

  

FMBT 2019-FBLU

December 6, 2019

  

FREMF 2017-K67

September 1, 2017

.

FRESB 2015-SB8

November l, 2015

  

FRESB 2016-SB19

July l, 2016

  

FRESB 2019-SB60

March 1, 2019

  

Great Wolf Trust 2019-WOLF

December 30, 2019

  

GSMS 2019-70P

October 23, 2019

  

HBST 2015-HBS

November 1, 2015

  

Hudson Yards 2019-30HY

July 6, 2019

  

JPMCC 2019-ICON

April 1, 2019

  

JPMCC 2019-MFP

July 18, 2019

  

JPMCC 2019-OSB

June 13,2019

  

KNDL 2019-KNSQ

May 30, 2019

  

LBS 2017-Q004

September 1, 2017

  

LNCR 2019-CRE2

May 30, 2019

  

LNCR 2019-CRE3

May 30, 2019

  

LoanCore 2018-CREI

June 5, 2018

  

MARG 2019-MARG

May 30, 2019

  

MBRT 2019- MBR

December 19, 2019

  

MEZZ CAP 2006-C4

December l, 2006

X

MEZZ CAP 2007-C5

January 1, 2008

X

MFTII 2019-B3B4

July 11, 2019

  

MSC 2011-C2

June 1, 2011

X

MSC 2019-L3

November 1, 2019

  

NCMS 2019-LVL

April 23, 2019

  

NCMS 2019-NEMA

March 29, 2019

  

Opus Bank 2016-Q003

December 1, 2016

  

PRIMA 2019-1S

August 23, 2019

  

PRIMA 2019-RKl

June 27, 2019

  

PRIMA 2019-VII

October 22, 2019

  

Selkirk 1

December 13, 2013

  

Selkirk 2

December 13, 2013

  

Selkirk 3

September 26, 2014

  

SGCP 2019-FL2

June 5, 2019

  

SLIDE 2018-FUN

September 28, 2018

  

TPG 2018-FL2

November 29, 2018

  

TPG 2019-FL3

October 25, 2019

  

UBS 2019-C16

April 1, 2019

  

UBS 2019-C18

December 1, 2019

  

WBCMT 2005-C18

May 1, 2005