DBRS Morningstar Withdraws Bank of New York Mellon Commercial Mortgage Primary Servicer Ranking

DBRS, Inc. (DBRS Morningstar) withdrew its MOR CS3 commercial mortgage primary servicer ranking on The Bank of New York Mellon’s Commercial Mortgage Servicing (CMS) operations, a business segment in its Corporate Trust division. DBRS Morningstar withdrew the ranking at the company’s request based on its redirected business focus and reduced third-party servicing volume. As of December 31, 2020, CMS’s commercial real estate servicing portfolio contained 31 loans with an aggregate unpaid principal balance of approximately $372.1 million.

All rankings are subject to surveillance, which could result in rankings being raised, lowered, placed under review, affirmed, or discontinued by DBRS Morningstar.

DBRS Morningstar North American commercial mortgage servicer rankings are not credit ratings. Instead, they are designed to evaluate the quality of the parties that service commercial mortgage loans. Although the servicer’s financial condition contributes to the applicable ranking, its relative importance is such that a servicer’s ranking should never be considered as a proxy of its creditworthiness.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is North American Commercial Mortgage Servicer Rankings (October 20, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

For more information regarding the structured finance rating approach and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/359905.

For more information on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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