CMBS Trust BANK 2018-BNK14 Sees Major Servicing Shake-Up

TL;DR

**This CMBS trust is undergoing a major servicing overhaul, with Trimont LLC taking the reins from Wells Fargo, signaling potential shifts in loan management and investor risk.**

AI Summary

BANK 2018-BNK14, a commercial mortgage-backed securities (CMBS) trust, filed its 10-K for the fiscal year ended December 31, 2025. The filing primarily details changes in servicing arrangements for its mortgage pool, which includes loans like the 685 Fifth Avenue Retail, Aventura Mall, and Starwood Hotel Portfolio. A significant change occurred on March 1, 2025, when Trimont LLC acquired Wells Fargo Bank, National Association's commercial mortgage servicing business, taking over as master, primary, and special servicer for the BANK 2018-BNK14 pool and its outside pooling and servicing agreements. Several special servicer changes were noted, including CWCapital Asset Management LLC replacing Argentic Services Company LP for the 1745 Broadway mortgage loan on March 6, 2025, and Green Loan Services LLC succeeding Wells Fargo Bank, National Association for the Millennium Partners Portfolio mortgage loan on November 18, 2024. The Pfizer Building mortgage loan, previously part of the BANK 2018-BNK13 pool, was repaid in 2024. The report does not provide specific revenue or net income figures as it is a securitization trust, but focuses on operational and structural changes within its mortgage servicing framework.

Why It Matters

This 10-K is crucial for investors in the BANK 2018-BNK14 CMBS trust, as significant changes in servicing can impact loan performance, default management, and ultimately, cash flow to bondholders. The acquisition of Wells Fargo's servicing arm by Trimont LLC on March 1, 2025, introduces a new key player, potentially altering servicing strategies and efficiencies. For employees, this signals a shift in operational oversight and potentially new management structures. Customers (borrowers) will now interact with Trimont LLC, which could affect loan administration. In the broader market, this highlights ongoing consolidation and specialization within the commercial mortgage servicing sector, impacting competitive dynamics among servicers like Argentic Services Company LP and K-Star Asset Management LLC.

Risk Assessment

Risk Level: medium — The risk level is medium due to the extensive changes in servicing parties, including Trimont LLC replacing Wells Fargo Bank, National Association as master, primary, and special servicer on March 1, 2025. While these changes are operational, a transition of this magnitude can introduce execution risks, potential disruptions in loan administration, and uncertainty regarding the new servicer's effectiveness in managing the diverse mortgage pool, which includes loans like the Starwood Hotel Portfolio and Aventura Mall.

Analyst Insight

Investors should closely monitor the performance of the BANK 2018-BNK14 mortgage pool under the new servicing arrangements with Trimont LLC. Pay particular attention to delinquency rates and special servicing outcomes for key loans like the 685 Fifth Avenue Retail and CoolSprings Galleria, as these will indicate the effectiveness of the new servicer.

Financial Highlights

total Assets

Not applicable.

total Debt

Not applicable.

Key Numbers

• 2025-12-31 — Fiscal Year End (The period covered by this 10-K filing.)
• 2026-03-23 — Filing Date (Date the 10-K was filed with the SEC.)
• 2025-03-01 — Effective Date (Trimont LLC replaced Wells Fargo as servicer.)
• 2025-03-06 — Effective Date (CWCapital Asset Management LLC replaced Argentic Services Company LP for 1745 Broadway loan.)
• 2024-11-18 — Effective Date (Green Loan Services LLC replaced Wells Fargo for Millennium Partners Portfolio loan.)
• 2024 — Repayment Year (The Pfizer Building mortgage loan was repaid.)
• 5% — Mortgage Pool Threshold (Servicers managing less than 5% of the pool are generally not reporting servicers.)
• 10% — Mortgage Pool Threshold (Servicers managing between 5% and 10% are reporting servicing function participants but not full servicers.)

Key Players & Entities

• BANK 2018-BNK14 (company) — issuing entity of the CMBS trust
• Wells Fargo Bank, National Association (company) — former master, primary, and special servicer; sponsor
• Trimont LLC (company) — new master, primary, and special servicer as of March 1, 2025
• Morgan Stanley Capital I Inc. (company) — depositor
• Morgan Stanley Mortgage Capital Holdings LLC (company) — sponsor
• Bank of America, National Association (company) — sponsor
• National Cooperative Bank, N.A. (company) — sponsor and servicer for specific loans
• Argentic Services Company LP (company) — reporting servicing function participant for 1745 Broadway and CoolSprings Galleria mortgage loans
• CWCapital Asset Management LLC (company) — current special servicer for 1745 Broadway mortgage loan as of March 6, 2025
• K-Star Asset Management LLC (company) — reporting servicing function participant for Starwood Hotel Portfolio and Navika Six Portfolio mortgage loans

FAQ

Risk Factors

• Servicer Transition Risk [medium — operational]: The trust experienced significant changes in its servicing arrangements during 2025. On March 1, 2025, Trimont LLC acquired Wells Fargo's commercial mortgage servicing business, becoming the master, primary, and special servicer. Further changes included CWCapital Asset Management LLC replacing Argentic Services Company LP for the 1745 Broadway loan on March 6, 2025, and Green Loan Services LLC succeeding Wells Fargo for the Millennium Partners Portfolio loan on November 18, 2024. These transitions introduce operational risks related to the continuity and effectiveness of loan management.

Industry Context

The commercial mortgage-backed securities (CMBS) market is characterized by complex securitization structures and reliance on specialized servicers. The industry is sensitive to interest rate environments and real estate market performance. Recent trends include consolidation among servicing firms and increased focus on loan workout strategies for distressed assets.

Regulatory Implications

As a securitization trust, BANK 2018-BNK14 is subject to regulations governing financial reporting and disclosure. Changes in servicing arrangements may trigger reporting requirements and necessitate compliance with the terms of the governing pooling and servicing agreements.

What Investors Should Do

1. Monitor servicer performance and transition effectiveness.
2. Review the specific terms of the identified Outside Pooling and Servicing Agreements.
3. Track the performance of key loans mentioned, such as 685 Fifth Avenue Retail and Aventura Mall.

Key Dates

• 2025-03-01: Trimont LLC acquired Wells Fargo's commercial mortgage servicing business. — This resulted in a major change of the master, primary, and special servicer for the BANK 2018-BNK14 trust, impacting the management of the entire mortgage pool.
• 2025-03-06: CWCapital Asset Management LLC replaced Argentic Services Company LP as special servicer for the 1745 Broadway mortgage loan. — This is a specific instance of servicer change within the pool, highlighting ongoing adjustments in loan oversight.
• 2024-11-18: Green Loan Services LLC replaced Wells Fargo Bank, National Association as servicer for the Millennium Partners Portfolio mortgage loan. — This servicer change, occurring in late 2024, indicates a pattern of evolving servicing arrangements for loans within the trust.
• 2024-12-31: Fiscal Year End for the 10-K filing. — This marks the end of the reporting period for the financial and operational details presented in the 10-K.
• 2024: The Pfizer Building mortgage loan was repaid. — This represents a reduction in the mortgage pool due to loan payoff, impacting the overall composition of the trust's assets.

Glossary

CMBS

Commercial Mortgage-Backed Securities. These are securities backed by pools of commercial mortgages. (BANK 2018-BNK14 is a CMBS trust, and its operations revolve around managing these underlying commercial mortgages.)

Pooling and Servicing Agreement (PSA)

A legal document that governs the relationship between the mortgage loan originators, the trust, and the servicers. It outlines the rights and responsibilities of each party. (The filing details changes in servicers appointed under various PSAs for specific loans within the trust.)

Master Servicer

The primary servicer responsible for the day-to-day administration of the mortgage loans in a CMBS pool, including collecting payments and managing escrows. (Trimont LLC took over as master servicer for the entire pool.)

Primary Servicer

Similar to a master servicer, responsible for loan administration and payment collection. (Trimont LLC also assumed the role of primary servicer.)

Special Servicer

A servicer responsible for managing defaulted or specially serviced loans, often involving loan modifications, foreclosures, or other workout strategies. (Multiple special servicer changes occurred, indicating active management of loans requiring specialized attention.)

Outside Pooling and Servicing Agreement

Refers to pooling and servicing agreements that are separate from the primary trust agreement, often used for specific loans or tranches within a larger securitization. (The BANK 2018-BNK14 pool includes loans serviced under these separate agreements.)

Year-Over-Year Comparison

This filing focuses on operational and structural changes, particularly servicer transitions, rather than year-over-year financial performance metrics, as is typical for a CMBS trust. Specific revenue or net income figures are not provided. The key changes involve the acquisition of Wells Fargo's servicing business by Trimont LLC and other servicer appointments, indicating a dynamic operational environment compared to the previous year.

Filing Documents

• msc18b14_10k-2025.htm (10-K) — 220KB
• msc18b14_31.htm (EX-31) — 41KB
• msc18b14_33-1.htm (EX-33.1) — 357KB
• msc18b14_33-2.htm (EX-33.2) — 1420KB
• msc18b14_33-3.htm (EX-33.3) — 702KB
• msc18b14_33-4.htm (EX-33.4) — 3113KB
• msc18b14_33-5.htm (EX-33.5) — 600KB
• msc18b14_33-6.htm (EX-33.6) — 626KB
• msc18b14_33-7.htm (EX-33.7) — 118KB
• msc18b14_33-8.htm (EX-33.8) — 439KB
• msc18b14_33-10.htm (EX-33.10) — 992KB
• msc18b14_33-11.htm (EX-33.11) — 86KB
• msc18b14_33-36.htm (EX-33.36) — 177KB
• msc18b14_33-37.htm (EX-33.37) — 118KB
• msc18b14_33-38.htm (EX-33.38) — 142KB
• msc18b14_33-40.htm (EX-33.40) — 289KB
• msc18b14_34-1.htm (EX-34.1) — 14KB
• msc18b14_34-2.htm (EX-34.2) — 11KB
• msc18b14_34-3.htm (EX-34.3) — 14KB
• msc18b14_34-4.htm (EX-34.4) — 11KB
• msc18b14_34-5.htm (EX-34.5) — 13KB
• msc18b14_34-6.htm (EX-34.6) — 10KB
• msc18b14_34-7.htm (EX-34.7) — 9KB
• msc18b14_34-8.htm (EX-34.8) — 9KB
• msc18b14_34-10.htm (EX-34.10) — 693KB
• msc18b14_34-11.htm (EX-34.11) — 8KB
• msc18b14_34-36.htm (EX-34.36) — 9KB
• msc18b14_34-37.htm (EX-34.37) — 7KB
• msc18b14_34-38.htm (EX-34.38) — 8KB
• msc18b14_34-40.htm (EX-34.40) — 9KB
• msc18b14_35-1.htm (EX-35.1) — 1896KB
• msc18b14_35-2.htm (EX-35.2) — 2593KB
• msc18b14_35-3.htm (EX-35.3) — 1558KB
• msc18b14_35-4.htm (EX-35.4) — 1806KB
• msc18b14_35-5.htm (EX-35.5) — 2577KB
• msc18b14_35-6.htm (EX-35.6) — 2224KB
• msc18b14_35-7.htm (EX-35.7) — 79KB
• msc18b14_35-8.htm (EX-35.8) — 546KB
• msc18b14_35-26.htm (EX-35.26) — 191KB
• msc18b14_35-27.htm (EX-35.27) — 232KB
• 0001888524-26-005027.txt ( ) — 23967KB

financial statements

financial statements. Not applicable. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). Not applicable. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ___ No X 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. 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 BANK 2018-BNK14 mortgage pool includes the following mortgage loans, each of which is serviced pursuant to a separate pooling and servicing agreement (each, an "Outside Pooling and Servicing Agreement"

of Regulation AB

Item 1123 of Regulation AB. The operating advisor under a pooling and servicing agreement represents the interests of senior certificateholders in the transaction governed by such pooling and servicing agreement and is responsible for monitoring the performance of the special servicer under such pooling and servicing agreement and producing certain reports to certificateholders relating to the resolution of the mortgage pool securitized pursuant to such pooling and servicing agreement. The operating advisor under a pooling and servicing agreement does not have any obligations with respect to any other transaction and is solely obligated to perform loan reporting functions with respect to the securitization governed by such pooling and servicing agreement. Consequently, the operating advisor under an Outside Pooling and Servicing Agreement neither participates in the servicing function for purposes of Item 1122 of Regulation AB nor performs the functions of a servicer for purposes of the definition of "servicer" under Item 1101 of Regulation AB or for purposes of Item 1123 of Regulation AB. In addition, while the operating advisor under a pooling and servicing agreement has certain reporting obligations in respect of the related mortgage pool, it has no obligation to collect or disburse funds in respect of the mortgage pool or to administer any of the underlying mortgage loans. Consequently, the operating advisor under a pooling and servicing agreement participates in the servicing function for purposes of Item 1122 of Regulation AB, but is not responsible for the "management or collection of the pool assets or making allocations or distributions to holders of the asset-backed securities" within the meaning of "servicer" under Item 1101 of Regulation AB and does not perform the functions of a servicer for purposes of Item 1123 of Regulation AB. The asset representations reviewer under a pooling and servicing agreement has a limited obligation to review certain d

, and does not constitute a reporting "servicer" for purposes of Item

Item 1122, and does not constitute a reporting "servicer" for purposes of Item 1123 of Regulation AB, as specified in the Instruction to Item 1123. NCB, N.A., as NCB master servicer and NCB special servicer under the BANK 2018-BNK13 pooling and servicing agreement, only has obligations in respect of certain mortgage loans sold to the BANK 2018-BNK13 securitization trust by NCB, N.A. or its affiliate and has no obligations with respect to the Anderson Towne Center mortgage loan and therefore in such capacity does not constitute a reporting "servicing function participant" for purposes of Item 1122 of Regulation AB, as specified in the Instruction 3 to Item 1122, and does not constitute a reporting "servicer" for purposes of Item 1123 of Regulation AB, as specified in the Instruction to Item 1123. Midland Loan Services, a Division of PNC Bank, National Association is the master servicer under the MSC 2018-L1 pooling and servicing agreement, pursuant to which the Navika Six Portfolio mortgage loan is serviced. Because Midland Loan Services, a Division of PNC Bank, National Association is not the BANK 2018-BNK14 master servicer, is not affiliated with any sponsor and services only the Navika Six Portfolio mortgage loan, which constitutes less than 5% of the mortgage pool, Midland Loan Services, a Division of PNC Bank, National Association, as MSC 2018-L1 master servicer, does not constitute a reporting "servicing function participant" for purposes of Item 1122 of Regulation AB, as specified in the Instruction 3 to Item 1122, and does not constitute a reporting "servicer" for purposes of Item 1123 of Regulation AB, as specified in the Instruction to Item 1123. Mount Street US (Georgia) LLP is the current special servicer under the BANK 2018-BNK13 pooling and servicing agreement, pursuant to which the Anderson Towne Center mortgage loan is serviced. On August 11, 2022, Torchlight Loan Services, LLC was replaced as special servicer under the BANK 2018-BNK13 pooling a

of Regulation AB, as specified in the Instruction 3 to Item 1122, and

Item 1122 of Regulation AB, as specified in the Instruction 3 to Item 1122, and does not constitute a reporting "servicer" for purposes of Item 1123 of Regulation AB, as specified in the Instruction to Item 1123. Argentic Services Company LP was the special servicer under the WFCM 2018-1745 trust and servicing agreement, pursuant to which the 1745 Broadway mortgage loan was serviced (from 1/1/25 to 3/5/25), and is the current special servicer under the BANK 2018-BNK12 pooling and servicing agreement, pursuant to which the CoolSprings Galleria mortgage loan is serviced. On July 7, 2020, Midland Loan Services, a Division of PNC Bank, National Association, was replaced as special servicer under the BANK 2018-BNK12 pooling and servicing agreement and succeeded by Argentic Services Company LP. On April 28, 2021, Aegon USA Realty Advisors, LLC was replaced as special servicer under the WFCM 2018-1745 trust and servicing agreement and succeeded by Argentic Services Company LP. Because Argentic Services Company LP is not the BANK 2018-BNK14 special servicer, is not affiliated with any sponsor and serviced only the 1745 Broadway mortgage loan (from 1/1/25 to 3/5/25) and the CoolSprings Galleria mortgage loan, which together constitute more than 5% but less than 10% of the mortgage pool, Argentic Services Company LP, as WFCM 2018-1745 special servicer and BANK 2018-BNK12 special servicer, constitutes a reporting "servicing function participant" for purposes of Item 1122 of Regulation AB, as specified in the Instruction 3 to Item 1122, but does not constitute a reporting "servicer" for purposes of Item 1123 of Regulation AB, as specified in the Instruction to Item 1123. CWCapital Asset Management LLC is the special servicer under the WFCM 2018-1745 trust and servicing agreement pursuant to which the 1745 Broadway mortgage loan is serviced. On March 6, 2025, Argentic Services Company LP was replaced as special servicer under the WFCM 2018-1745 trust and servicing agreement

Financial Statements and

Financial Statements and Supplementary Data. Omitted. Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Omitted. Item 9A.

Controls and Procedures

Controls and Procedures. Omitted. Item 9B. Other Information. None. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. None. PART III Item 10. Directors, Executive Officers and Corporate Governance. Omitted. Item 11.

Executive Compensation

Executive Compensation. Omitted. Item 12.

Security Ownership of Certain

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. Omitted. Item 13. Certain Relationships and Related Transactions, and Director Independence. Omitted. Item 14. Principal Accountant Fees and Services. Omitted. ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB Item 1112(b) of Regulation AB, Significant Obligor Financial Information. Not applicable. Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider Financial Information. No entity or group of affiliated entities provides any enhancement or other support for the certificates as described under Item 1114 (a) of Regulation AB. Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information). No entity or group of affiliated entities provides any derivative instruments for the certificates as described under Item 1115 of Regulation AB. Item 1117 of Regulation AB, Legal Proceedings. The registrant knows of no legal proceeding pending against the sponsors, depositor, trustee, issuing entity, servicer contemplated by Item 1108(a)(3) of Regulation AB, originator contemplated by Item 1110(b) of Regulation AB, or other party contemplated by Item 1100(d)(1) of Regulation AB, or of which any property of the foregoing is the subject, that is material to security holders, other than as follows: In December 2014, Phoenix Light SF Limited (Phoenix Light) and certain related entities filed a complaint in the United States District Court for the Southern District of New York alleging claims against Wells Fargo Bank, N.A., in its capacity as trustee for a number of residential mortgage-backed securities (RMBS) trusts. Complaints raising similar allegations have been filed by Commerzbank AG in the Southern District of New York, IKB International and IKB Deutsche Industriebank (together, IKB) in New York state court, and Park Royal I LLC and Park Royal II LLC in New York state court. In each case, the plaintiffs allege that W

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