EX-33.3 4 d694285dex333.htm EX-33.3 EX-33.3

Exhibit 33.3

PARK BRIDGE LENDER SERVICES LLC

 

February 20, 2019

RE:          Management’s Report on Assessment of 2018 Compliance by

                Park Bridge Lender Services LLC with Regulation AB Servicing Criteria

Park Bridge Lender Services LLC (the “Asserting Party”) is responsible for assessing its compliance, as of and for the period ended December 31, 2018, with the servicing criteria set forth in Title 17, Section 229.1122(d) of the Code of Federal Regulations.

The transactions covered by this assertion are those transactions processed by the Asserting Party in its capacity as trust or operating advisor for the asset-backed securities transactions listed in Exhibit A attached hereto (the “Platform”).

The Asserting Party is responsible for assessing its compliance with the servicing criteria applicable to it. The Asserting Party used the criteria in paragraph (d) of Item 1122 of Regulation AB (17 C.F.R. 229.1122) to assess its compliance. The full outline of the Asserting Party’s contractually applicable servicing criteria under various securitization pooling and servicing agreements can be found in Exhibit B attached hereto.

Based on its assessment, the Asserting Party believes that, as of and for the periods the contractual obligations existed in the calendar year ending December 31, 2018, the Asserting Party has complied in all material respects with the servicing criteria set forth in Item 1122(d) of Regulation AB relating to its trust advisor or operating advisor role with respect to the Platform, except for the servicing criteria set forth in 1122(d)(1)(i-v), 1122(d)(2)(i-vii), 1122(d)(3)(ii-iv), 1122(d)(4)(i-vi) and 1122(d)(4)(viii-xv), which the Asserting Party has determined as being inapplicable to the activities it performs with respect to the Platform (the “Applicable Servicing Criteria”).

Katz, Sapper & Miller LLP, an independent registered public accounting firm, has issued an attestation report on the assessment of compliance with the Applicable Servicing Criteria for the reporting period as set forth in this assertion.

 

  PARK BRIDGE LENDER SERVICES LLC
  By:   

Park Bridge Advisors LLC, a New York limited liability company, its Sole Member

     By:    Park Bridge Financial LLC, a New York limited liability company, its Sole Member
        By:            /s/ David M. Rodgers                        
           David M. Rodgers
           Managing Member

600 THIRD AVENUE, 40TH FLOOR, NEW YORK, NY 10016

WWW.PARKBRIDGEFINANCIAL.COM

Exhibit A

Asserting Party’s 2018 Servicing Platform

 

     Applicable Certification Period    

Securitization Transaction

              Start Date    End Date

COMM 2012-LC4

    January 01, 2018      to    December 31, 2018

COMM 2012-CCRE2

    January 01, 2018      to    December 31, 2018

UBS-B 2012-C3

    January 01, 2018      to    December 31, 2018

COMM 2012-CCRE4

    January 01, 2018      to    December 31, 2018

COMM 2012-CCRE5

    January 01, 2018      to    December 31, 2018

COMM 2013-LC6

    January 01, 2018      to    December 31, 2018

JPMCC 2013-C10

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE6

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE7

    January 01, 2018      to    December 31, 2018

UBSBB 2013-C6

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE8

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE9

    January 01, 2018      to    December 31, 2018

MSBAM 2013-C10

    January 01, 2018      to    December 31, 2018

WFCM 2013-LC12

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE10

    January 01, 2018      to    December 31, 2018

COMM 2013-LC13

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE11

    January 01, 2018      to    December 31, 2018

COMM 2013-CCRE12

    January 01, 2018      to    December 31, 2018

WFRBS 2013-UBS1

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE14

    January 01, 2018      to    December 31, 2018

GSMS 2014-GC18

    January 01, 2018      to    December 31, 2018

MSBAM 2014-C14

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE15

    January 01, 2018      to    December 31, 2018

COMM 2014-UBS2

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE16

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE17

    January 01, 2018      to    December 31, 2018

CGCMT 2014-GC21

    January 01, 2018      to    December 31, 2018

COMM 2014-UBS3

    January 01, 2018      to    December 31, 2018

COMM 2014-UBS4

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE19

    January 01, 2018      to    December 31, 2018

COMM 2014-LC17

    January 01, 2018      to    December 31, 2018

MSBAM 2014-C18

    January 01, 2018      to    December 31, 2018

CGCMT 2014-GC25

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE20

    January 01, 2018      to    December 31, 2018

COMM 2014-CCRE21

    January 01, 2018      to    December 31, 2018

 

Exhibit A

     Applicable Certification Period    

Securitization Transaction

              Start Date    End Date

MSBAM 2014-C19

    January 01, 2018      to    December 31, 2018

WFCM 2014-LC18

    January 01, 2018      to    December 31, 2018

MSBAM 2015-C20

    January 01, 2018      to    December 31, 2018

COMM 2015-LC19

    January 01, 2018      to    December 31, 2018

CGCMT 2015-GC27

    January 01, 2018      to    December 31, 2018

COMM 2015-DC1

    January 01, 2018      to    December 31, 2018

CSAIL 2015-C1

    January 01, 2018      to    December 31, 2018

COMM 2015-CCRE22

    January 01, 2018      to    December 31, 2018

MSBAM 2015-C22

    January 01, 2018      to    December 31, 2018

CSAIL 2015-C2

    January 01, 2018      to    December 31, 2018

COMM 2015-LC21

    January 01, 2018      to    December 31, 2018

MSC 2015-MS1

    January 01, 2018      to    December 31, 2018

COMM 2015-PC1

    January 01, 2018      to    December 31, 2018

GSMS 2015-GC32

    January 01, 2018      to    December 31, 2018

MSBAM 2015-C24

    January 01, 2018      to    December 31, 2018

COMM 2015-CCRE24

    January 01, 2018      to    December 31, 2018

CGCMT 2015-P1

    January 01, 2018      to    December 31, 2018

WFCM 2015-LC22

    January 01, 2018      to    December 31, 2018

COMM 2015-CCRE26

    January 01, 2018      to    December 31, 2018

COMM 2015-CCRE27

    January 01, 2018      to    December 31, 2018

MSBAM 2015-C26

    January 01, 2018      to    December 31, 2018

COMM 2015-LC23

    January 01, 2018      to    December 31, 2018

CGCMT 2015-GC35

    January 01, 2018      to    December 31, 2018

CFCRE 2016-C3

    January 01, 2018      to    December 31, 2018

COMM 2016-CCRE28

    January 01, 2018      to    December 31, 2018

MSBAM 2016-C28

    January 01, 2018      to    December 31, 2018

WFCM 2016-NXS5

    January 01, 2018      to    December 31, 2018

MSCI 2016-UBS9

    January 01, 2018      to    December 31, 2018

COMM 2016-DC2

    January 01, 2018      to    December 31, 2018

WFCM 2016-C33

    January 01, 2018      to    December 31, 2018

CGCMT 2016-P3

    January 01, 2018      to    December 31, 2018

DBJPM 2016-C1

    January 01, 2018      to    December 31, 2018

CGCMT 2016-GC37

    January 01, 2018      to    December 31, 2018

MSBAM 2016-C29

    January 01, 2018      to    December 31, 2018

CFCRE 2016-C4

    January 01, 2018      to    December 31, 2018

CSAIL 2016-C6

    January 01, 2018      to    December 31, 2018

CGCMT 2016-C1

    January 01, 2018      to    December 31, 2018

BACM 2016-UBS10

    January 01, 2018      to    December 31, 2018

SGCMS 2016-C5

    January 01, 2018      to    December 31, 2018

CGCMT 2016-P4

    January 01, 2018      to    December 31, 2018

DBJPM 2016-C3

    January 01, 2018      to    December 31, 2018

 

Exhibit A

     Applicable Certification Period    

Securitization Transaction

              Start Date    End Date

WFCM 2016-BNK1

    January 01, 2018      to    December 31, 2018

CD 2016-CD1

    January 01, 2018      to    December 31, 2018

MSCI 2016-UBS11

    January 01, 2018      to    December 31, 2018

MSBAM 2016-C30

    January 01, 2018      to    December 31, 2018

CGCMT 2016-P5

    January 01, 2018      to    December 31, 2018

COMM 2016-COR1

    January 01, 2018      to    December 31, 2018

COMM 2016-667M

    January 01, 2018      to    December 31, 2018

WFCM 2016-C36

    January 01, 2018      to    December 31, 2018

MSBAM 2016-C31

    January 01, 2018      to    December 31, 2018

CFCRE 2016-C6

    January 01, 2018      to    December 31, 2018

MSC 2016-BNK2

    January 01, 2018      to    December 31, 2018

CSAIL 2016-C7

    January 01, 2018      to    December 31, 2018

GSMS 2016-GS4

    January 01, 2018      to    December 31, 2018

MSC 2016-UBS12

    January 01, 2018      to    December 31, 2018

CD 2016-CD2

    January 01, 2018      to    December 31, 2018

CGCMT 2016-P6

    January 01, 2018      to    December 31, 2018

MSBAM 2016-C32

    January 01, 2018      to    December 31, 2018

CFCRE 2016-C7

    January 01, 2018      to    December 31, 2018

CSMC 2016-NXSR

    January 01, 2018      to    December 31, 2018

CD 2017-CD3

    January 01, 2018      to    December 31, 2018

BACM 2017-BNK3

    January 01, 2018      to    December 31, 2018

BBCMS 2017-C1

    January 01, 2018      to    December 31, 2018

JPMDB 2017-C5

    January 01, 2018      to    December 31, 2018

CGCMT 2017-P7

    January 01, 2018      to    December 31, 2018

MSBAM 2017-C33

    January 01, 2018      to    December 31, 2018

CD 2017-CD4

    January 01, 2018      to    December 31, 2018

CFCRE 2017-C8

    January 01, 2018      to    December 31, 2018

DAFC 2017-AMO

    January 01, 2018      to    December 31, 2018

LCCM 2017-LC26

    January 01, 2018      to    December 31, 2018

BANK 2017-BNK5

    January 01, 2018      to    December 31, 2018

CSAIL 2017-C8

    January 01, 2018      to    December 31, 2018

WFCM 2017-C38

    January 01, 2018      to    December 31, 2018

BANK 2017-BNK6

    January 01, 2018      to    December 31, 2018

CSMC 2017-MOON

    January 01, 2018      to    December 31, 2018

CD 2017-CD5

    January 01, 2018      to    December 31, 2018

UBS 2017-C2

    January 01, 2018      to    December 31, 2018

MSSG 2017-237P

    January 01, 2018      to    December 31, 2018

GSMS 2017-GS7

    January 01, 2018      to    December 31, 2018

UBS 2017-C3

    January 01, 2018      to    December 31, 2018

COMM 2017-COR2

    January 01, 2018      to    December 31, 2018

MSBAM 2017-C34

    January 01, 2018      to    December 31, 2018

 

Exhibit A

     Applicable Certification Period    

Securitization Transaction

              Start Date    End Date

DBUBS 2017-BRBK

    January 01, 2018      to    December 31, 2018

CGCMT 2017-C4

    January 01, 2018      to    December 31, 2018

WPT 2017-WWP

    January 01, 2018      to    December 31, 2018

BANK 2017-BNK8

    January 01, 2018      to    December 31, 2018

UBS 2017-C5

    January 01, 2018      to    December 31, 2018

CSMC 2017-CALI

    January 01, 2018      to    December 31, 2018

CCUBS 2017-C1

    January 01, 2018      to    December 31, 2018

CD 2017-CD6

    January 01, 2018      to    December 31, 2018

CSAIL 2017-CX10

    January 01, 2018      to    December 31, 2018

BANK 2017-BNK9

    January 01, 2018      to    December 31, 2018

WFCM 2017-C42

    January 01, 2018      to    December 31, 2018

MSC 2017-HR2

    January 01, 2018      to    December 31, 2018

BMARK 2018-B1

    January 31, 2018      to    December 31, 2018

JPMCC 2018-BCON

    February 21, 2018      to    December 31, 2018

UBS 2018-C8

    February 27, 2018      to    December 31, 2018

CGCMT 2018-B2

    March 20, 2018      to    December 31, 2018

WFCM 2018-C43

    March 27, 2018      to    December 31, 2018

BMARK 2018-B3

    April 10, 2018      to    December 31, 2018

CSAIL 2018-CX11

    April 18, 2018      to    December 31, 2018

BANK 2018-BNK11

    April 26, 2018      to    December 31, 2018

COMM 2018-COR3

    May 22, 2018      to    December 31, 2018

BANK 2018-BNK12

    May 30, 2018      to    December 31, 2018

UBS 2018-C10

    May 31, 2018      to    December 31, 2018

COMM 2018-HOME

    June 19, 2018      to    December 31, 2018

AVMT 2018-AVM

    June 29, 2018      to    December 31, 2018

JPMCC 2018-AON

    June 29, 2018      to    December 31, 2018

MSC 2018-H3

    July 12, 2018      to    December 31, 2018

BMARK 2018-B4

    July 13, 2018      to    December 31, 2018

WFCM 2018-C45

    July 17, 2018      to    December 31, 2018

GSMS 2018-GS10

    July 30, 2018      to    December 31, 2018

JPMCC 2018-WPT

    July 31, 2018      to    December 31, 2018

CSAIL 2018-CX12

    August 22, 2018      to    December 31, 2018

CD 2018-CD7

    August 24, 2018      to    December 31, 2018

UBS 2018-C12

    August 28, 2018      to    December 31, 2018

BANK 2018-BNK14

    September 27, 2018      to    December 31, 2018

BMARK 2018-B6

    October 09, 2018      to    December 31, 2018

WFCM 2018-C47

    October 25, 2018      to    December 31, 2018

DBGS 2018-C1

    October 30, 2018      to    December 31, 2018

BMARK 2018-B7

    November 28, 2018      to    December 31, 2018

BANK 2018-BNK15

    November 29, 2018      to    December 31, 2018

CGCMT 2018-C6

    December 11, 2018      to    December 31, 2018

 

Exhibit A

     Applicable Certification Period    

Securitization Transaction

              Start Date    End Date

UBS 2018-C14

    December 12, 2018      to    December 31, 2018

BBCMS 2018-C2

    December 20, 2018      to    December 31, 2018

MSC 2018-H4

    December 27, 2018      to    December 31, 2018

 

Exhibit A

Exhibit B

Regulation AB Section 229.1122(d) Servicing Criteria

 

Regulation

AB Reference

   

Servicing Criterion

    Performed by
Park Bridge1		   

Not Applicable to
Park Bridge2

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
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
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.       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

 

Exhibit B

Regulation

AB Reference

   

Servicing Criterion

    Performed by
Park Bridge1		    Not Applicable to
Park Bridge2
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.       X
1122(d)(3)(i)(A)    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 are prepared in accordance with timeframes and other terms set forth in the transaction agreements.    X   
1122(d)(3)(i)(B)    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 provide information calculated in accordance with the terms specified in the transaction agreements.    X   
1122(d)(3)(i)(C)    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 are filed with the Commission as required by its rules and regulations.    X3    X4
1122(d)(3)(i)(D)    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 agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the servicer.    X3    X4
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
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

 

Exhibit B

Regulation

AB Reference

   

Servicing Criterion

    Performed by
Park Bridge1		    Not Applicable to
Park Bridge2
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
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.       X
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
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): (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 were 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.       X
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.       X
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.       X
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.       X
1122(d)(4)(xiv)    Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.       X

 

Exhibit B

Regulation

AB Reference

   

Servicing Criterion

   

Performed by
Park Bridge1

   

Not Applicable to
Park Bridge2

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

The criteria in the column “Performed by Park Bridge” and marked with an “X” are applicable for the Transactions unless otherwise noted; however, there were no specially serviced loans under the related Transactions during the reporting period. Therefore, no trust/operating advisor actions were required.

2

The criteria in the column “Not Applicable to Park Bridge” and marked with an “X” were not within the scope of the Asserting Party’s duties in the Transactions.

3

Applicable only to the Transactions listed in Table 2 below.

4

Not applicable to Transactions other than the Transactions listed in Table 2 below.

Table 2

 

COMM 2012-LC4
COMM 2012 CCRE2
COMM 2012 CCRE4
COMM 2012-CCRE5
COMM 2013-CCRE7
COMM 2013-CCRE9
COMM 2013-LC6
COMM 2013-LC13
COMM 2013-CCRE11

 

Exhibit B