BANK 2022-BNK41 Details Servicing Shift, Ongoing Litigation

TL;DR

**This 10-K reveals a critical servicing transition and lingering legal woes for a key servicer, signaling potential operational shifts and legal overhang for BANK 2022-BNK41 investors.**

AI Summary

BANK 2022-BNK41, a mortgage pool, filed its 10-K for the fiscal year ended December 31, 2025, primarily detailing its complex servicing structure and legal proceedings involving a key special servicer. The filing indicates no revenue or net income figures as it is a securitization trust, not an operating company. A significant business 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 BANK 2022-BNK41 and related Outside Pooling and Servicing Agreements. Key risks include ongoing litigation against CWCapital Asset Management LLC (CWCAM), a special servicer, specifically a lawsuit filed on December 1, 2017, alleging aiding and abetting breach of fiduciary duty, conversion, and unjust enrichment, with 2 counts against CWCAM still pending as of August 20, 2019. The strategic outlook focuses on maintaining the integrity of the mortgage pool's servicing, with various entities like CoreLogic Solutions, LLC continuing as servicing function participants under Trimont LLC.

Why It Matters

This 10-K provides crucial transparency into the operational backbone of a significant mortgage-backed security, BANK 2022-BNK41, which impacts investors holding these certificates. The transition of servicing responsibilities from Wells Fargo Bank, National Association to Trimont LLC on March 1, 2025, could influence loan performance and investor returns, as servicing quality is paramount in CMBS. Furthermore, the ongoing legal challenges faced by CWCapital Asset Management LLC, a special servicer for certain loans, introduce potential reputational and operational risks that could affect the trust's ability to manage distressed assets effectively, potentially impacting the broader commercial real estate market and competitive landscape for special servicers.

Risk Assessment

Risk Level: medium — The risk level is medium due to the ongoing legal proceedings against CWCapital Asset Management LLC (CWCAM), a special servicer, which include 2 remaining counts for aiding and abetting breach of fiduciary duty and unjust enrichment from a lawsuit filed on December 1, 2017. While the court dismissed 11 of 16 counts on August 20, 2019, the remaining claims could still result in financial penalties or operational disruptions for a key servicing participant, potentially impacting the mortgage pool's performance.

Analyst Insight

Investors should closely monitor the performance of the mortgage loans serviced by Trimont LLC following its acquisition of Wells Fargo's servicing segment on March 1, 2025. Additionally, investors should track the legal proceedings involving CWCapital Asset Management LLC, as adverse outcomes could affect the resolution of distressed assets within the BANK 2022-BNK41 mortgage pool.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

N/A

total Debt

N/A

net Income

$0

eps

N/A

gross Margin

N/A

cash Position

N/A

revenue Growth

N/A

Key Numbers

• 2025-12-31 — Fiscal Year End (Date for which the annual report is filed)
• 2025-03-01 — Effective Date of Servicer Change (Trimont LLC replaced Wells Fargo Bank, National Association as servicer)
• 2 — Pending Legal Counts (Number of claims against CWCapital Asset Management LLC remaining after August 20, 2019 court order)
• 11 — Dismissed Legal Counts (Number of claims dismissed against defendants, including CWCAM, on August 20, 2019)
• 5% — Mortgage Pool Threshold (KeyBank National Association and Berkadia Commercial Mortgage LLC service less than 5% of the mortgage pool)
• 5-10% — Mortgage Pool Threshold (Situs Holdings, LLC services more than 5% but less than 10% of the mortgage pool)

Key Players & Entities

• BANK 2022-BNK41 (company) — issuing entity of the mortgage pool
• Wells Fargo Bank, National Association (company) — former master, primary, and special servicer; sponsor
• Trimont LLC (company) — successor master, primary, and special servicer effective March 1, 2025
• CWCapital Asset Management LLC (company) — special servicer facing ongoing legal proceedings
• Morgan Stanley Capital I Inc. (company) — depositor
• Bank of America, National Association (company) — sponsor
• Morgan Stanley Mortgage Capital Holdings LLC (company) — sponsor
• National Cooperative Bank, N.A. (company) — sponsor and servicer for specific loans
• CoreLogic Solutions, LLC (company) — servicing function participant
• Situs Holdings, LLC (company) — special servicer for multiple mortgage loans, constituting 5-10% of the pool

FAQ

Risk Factors

• Ongoing Litigation Against Special Servicer [medium — legal]: The trust is subject to ongoing litigation against CWCapital Asset Management LLC (CWCAM), a former special servicer. A lawsuit filed on December 1, 2017, alleged aiding and abetting breach of fiduciary duty, conversion, and unjust enrichment. As of August 20, 2019, two counts against CWCAM remained pending, while eleven counts against other defendants were dismissed.
• Servicer Transition and Reliance on Third Parties [medium — operational]: A significant business change occurred on March 1, 2025, with Trimont LLC acquiring Wells Fargo Bank, National Association's commercial mortgage servicing business. Trimont LLC is now the master, primary, and special servicer. The trust relies on various entities, including CoreLogic Solutions, LLC, to perform servicing functions under Trimont LLC.
• Concentration in Servicing Roles [low — market]: While KeyBank National Association and Berkadia Commercial Mortgage LLC service less than 5% of the mortgage pool, Situs Holdings, LLC services more than 5% but less than 10%. This indicates a degree of concentration in servicing, which could pose risks if any of these key servicers face operational issues.

Industry Context

The commercial mortgage-backed securities (CMBS) market involves complex structures where loans are pooled and securitized. Servicing these pools requires specialized entities, with master and special servicers playing critical roles. The industry is sensitive to operational changes, such as servicer transitions, and legal challenges that can impact the management and recovery of assets.

Regulatory Implications

As a securitization trust, BANK 2022-BNK41 is subject to regulations governing financial instruments and disclosures. The ongoing litigation and the transition of servicing rights could attract regulatory scrutiny regarding compliance and the protection of investor interests.

What Investors Should Do

1. Monitor CWCAM Litigation Status
2. Assess Trimont LLC's Servicing Capabilities
3. Review Servicing Agreements

Key Dates

• 2025-12-31: Fiscal Year End — This is the period covered by the 10-K filing, providing the latest available information on the trust's structure and legal matters.
• 2025-03-01: Servicer Change Effective Date — Trimont LLC officially took over as master, primary, and special servicer, replacing Wells Fargo Bank, National Association, marking a significant operational shift.
• 2019-08-20: Court Order on CWCAM Litigation — A court order dismissed 11 counts against defendants in the lawsuit involving CWCAM, but 2 counts against CWCAM remained pending, indicating ongoing legal exposure.
• 2017-12-01: Lawsuit Filed Against CWCAM — This date marks the initiation of the lawsuit alleging aiding and abetting breach of fiduciary duty, conversion, and unjust enrichment, which continues to be a relevant legal risk.

Glossary

Securitization Trust

A legal entity created to pool assets, such as mortgage loans, and issue securities backed by the cash flows from those assets. (BANK 2022-BNK41 is a securitization trust, explaining its lack of operating revenue and net income.)

Pooling and Servicing Agreement (PSA)

A contract that governs the terms under which mortgage loans are pooled together and serviced for the benefit of the security holders. (The trust operates under multiple PSAs, detailing the responsibilities of various servicers for different mortgage loans within the pool.)

Master Servicer

The primary entity responsible for the day-to-day administration of a pool of loans, including collecting payments and managing escrow accounts. (Trimont LLC now acts as the master servicer for BANK 2022-BNK41.)

Special Servicer

An entity responsible for managing defaulted or delinquent loans, often involving loan modifications, foreclosures, or other loss mitigation strategies. (The trust's reliance on special servicers and the ongoing litigation against a former special servicer (CWCAM) highlight a key risk area.)

Outside Pooling and Servicing Agreement

Refers to pooling and servicing agreements that are separate from the primary trust agreement, often used for specific loans within a larger securitization. (The trust includes mortgage loans serviced under these separate agreements, indicating a complex servicing structure.)

Year-Over-Year Comparison

This filing indicates a significant change in the servicing structure, with Trimont LLC acquiring the commercial mortgage servicing business and becoming the master, primary, and special servicer as of March 1, 2025. The previous filing likely detailed Wells Fargo Bank, National Association's role. The ongoing legal proceedings against CWCapital Asset Management LLC remain a persistent risk factor, with a specific number of counts still pending as of the last reported date.

Filing Documents

• bak22b41_10k-2025.htm (10-K) — 158KB
• bak22b41_31.htm (EX-31) — 24KB
• bak22b41_33-1.htm (EX-33.1) — 1420KB
• bak22b41_33-2.htm (EX-33.2) — 3113KB
• bak22b41_33-3.htm (EX-33.3) — 600KB
• bak22b41_33-4.htm (EX-33.4) — 626KB
• bak22b41_33-5.htm (EX-33.5) — 118KB
• bak22b41_33-6.htm (EX-33.6) — 439KB
• bak22b41_33-8.htm (EX-33.8) — 597KB
• bak22b41_33-9.htm (EX-33.9) — 86KB
• bak22b41_33-10.htm (EX-33.10) — 172KB
• bak22b41_33-20.htm (EX-33.20) — 177KB
• bak22b41_33-21.htm (EX-33.21) — 118KB
• bak22b41_33-22.htm (EX-33.22) — 991KB
• bak22b41_34-1.htm (EX-34.1) — 11KB
• bak22b41_34-2.htm (EX-34.2) — 11KB
• bak22b41_34-3.htm (EX-34.3) — 13KB
• bak22b41_34-4.htm (EX-34.4) — 10KB
• bak22b41_34-5.htm (EX-34.5) — 9KB
• bak22b41_34-6.htm (EX-34.6) — 9KB
• bak22b41_34-8.htm (EX-34.8) — 7KB
• bak22b41_34-9.htm (EX-34.9) — 8KB
• bak22b41_34-10.htm (EX-34.10) — 9KB
• bak22b41_34-20.htm (EX-34.20) — 9KB
• bak22b41_34-21.htm (EX-34.21) — 7KB
• bak22b41_34-22.htm (EX-34.22) — 9KB
• bak22b41_35-1.htm (EX-35.1) — 999KB
• bak22b41_35-2.htm (EX-35.2) — 1289KB
• bak22b41_35-3.htm (EX-35.3) — 2577KB
• bak22b41_35-4.htm (EX-35.4) — 2224KB
• bak22b41_35-5.htm (EX-35.5) — 79KB
• bak22b41_35-6.htm (EX-35.6) — 546KB
• bak22b41_35-8.htm (EX-35.8) — 290KB
• bak22b41_35-15.htm (EX-35.15) — 191KB
• bak22b41_35-16.htm (EX-35.16) — 232KB
• 0001888524-26-005039.txt ( ) — 17177KB

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 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 2022-BNK41 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"

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

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. KeyBank National Association is the special servicer under the Benchmark 2022-B35 pooling and servicing agreement, pursuant to which the Shearer's Industrial Portfolio mortgage loan is serviced. Because KeyBank National Association is not the BANK 2022-BNK41 special servicer, is not affiliated with any sponsor and services only the Shearer's Industrial Portfolio mortgage loan, which constitutes less than 5% of the mortgage pool, KeyBank National Association, as Benchmark 2022-B35 special 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. Effective as of March 1, 2025, Trimont LLC purchased the third party servicing segment of Wells Fargo Bank, National Association's commercial mortgage servicing business and replaced Wells Fargo Bank, National Association in its capacities as master servicer, primary servicer and special servicer, as applicable, under the BANK 2022-BNK41 pooling and servicing agreement and each Outside Pooling and Servicing Agreement. In addition, each of the following parties engaged the services of certain servicing function participants and sub-servicers for the reporting period, as set forth below: Wells Fargo Bank, National Association, as master servicer, engaged the services of CoreLogic Solutions, LLC as a servicing function participant in respect of the entire mortgage pool for the reporting period. Wells Fargo Bank, National Association, as master servicer under the BANK 2022-BNK40 pooling and servicing agreement, pursuant to which the Life Science Office Portfolio mortgage loan, the UCI Research Park Phases 12 & 13 mortgage loan and th

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

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: From time to time, CWCapital Asset Management LLC, a Delaware limited liability company ("CWCAM"), is a party to lawsuits and other legal proceedings as part of its duties as a special servicer (e.g., enforcement of loan obligations) and/or arising in the ordinary course of business. Other than as set forth in the following paragraphs, there are currently no legal proceedings pending, and no legal proceedings known to be contemplated by governmental authorities, against CWCAM or of which any of its property is the subject, that are material to the certificateholders. On December 1, 2017, a complaint against CWCAM and others wa

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