Form 10-D WFRBS Commercial Mortgag For: Jan 18
Tweet
Share
E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-D
ASSET BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the monthly distribution period from: December 17, 2022 to January 18, 2023
Commission File Number of issuing entity: 333-177891-01
Central Index Key Number of issuing entity: 0001550120
WFRBS
Commercial Mortgage Trust 2012-C7
(Exact name of issuing entity as specified in its charter)
Commission File Number of depositor: 333-177891
Central Index Key Number of depositor: 0001112998
RBS Commercial
Funding Inc.
(Exact name of depositor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0000729153
NatWest Markets
Plc (formerly known as The Royal Bank of Scotland plc)
(Exact name of sponsor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0001541615
RBS Financial
Products Inc.
(Exact name of sponsor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0000740906
Wells Fargo
Bank, National Association
(Exact name of sponsor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0001542105
Basis Real
Estate Capital II, LLC
(Exact name of sponsor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0001555501
Liberty Island
Group I LLC
(Exact name of sponsor as specified in its charter)
Central Index Key Number of sponsor (if applicable): 0001541214
C-III
Commercial Mortgage LLC
(Exact name of sponsor as specified in its charter)
Lisa Brower (203) 897-2700
(Name and telephone number, including area code, of the person to contact in
connection with this filing)
New York
(State or other jurisdiction of incorporation or organization of the issuing
entity)
38-3880053
38-3880054
38-3880055
38-7047663
(I.R.S. Employer Identification No.)
c/o
Computershare Trust Company, N.A., as agent for
Wells Fargo Bank, National Association
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity) (Zip Code)
(410) 884-2000
(Telephone number, including area code)
Not Applicable
(Former name, former address, if changed since last report)
Registered/reporting pursuant to (check one)
|
Title of Class |
Section 12(b) |
Section 12(g) |
Section 15(d) |
Name of Exchange (If Section 12(b)) |
|
A-1 |
|
|
X |
|
|
A-2 |
|
|
X |
|
|
A-S |
|
|
X |
|
|
B |
|
|
X |
|
|
C |
|
|
X |
|
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 X No
Part I - DISTRIBUTION INFORMATION
Item 1. Distribution and Pool Performance Information.
On January 18, 2023 a distribution was made to holders of the certificates issued by WFRBS Commercial Mortgage Trust 2012-C7.
The distribution report is attached as an Exhibit to this Form 10-D, please see Item 10(b), Exhibit 99.1 for the related information.
The following table presents the loss information for the trust assets for the WFRBS Commercial Mortgage Trust 2012-C7 in accordance with Item 1100(b) as required by Item 1121(a)(9) of Regulation AB:
Loss Information as reported on January 18, 2023
|
Number of Delinquencies 30+ days |
% of Delinquencies 30+ days by Pool Balance |
Number of Loans/REOs with Losses |
Average Net Loss |
|
1 |
100.00% |
7 |
$10,688,622.07 |
No assets securitized by RBS Commercial Funding Inc. (the "Depositor") and held by WFRBS Commercial Mortgage Trust 2012-C7 were the subject of a demand to repurchase or replace for breach of the representations and warranties contained in the underlying transaction documents during the monthly distribution period from December 17, 2022 to January 18, 2023, and there is no repurchase activity to report for that period.
The Depositor filed its latest Form ABS-15G on February 14, 2022. The CIK number of the Depositor is 0001112998.
NatWest Markets Plc (formerly known as The Royal Bank of Scotland plc) ("NatWest plc"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on May 16, 2017. The CIK number for NatWest plc is 0000729153.
RBS Financial Products Inc. ("RBSFP"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on November 29, 2022. The CIK number for RBSFP is 0001541615.
Wells Fargo Bank, National Association ("Wells Fargo"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on November 10, 2022. The CIK number for Wells Fargo is 0000740906.
Basis Real Estate Capital II, LLC ("Basis"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on February 14, 2022. The CIK number for Basis is 0001542105.
Liberty Island Group I LLC ("LIG I"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on February 1, 2022. The CIK number for LIG I is 0001555501.
C-III Commercial Mortgage LLC ("C-III"), one of the sponsors and mortgage loan sellers, most recently filed a Form ABS-15G on January 31, 2022. The CIK number for C-III is 0001541214.
Part II - OTHER INFORMATION
Item 2. Legal Proceedings.
Disclosure from Wells Fargo Bank, National Association, as certificate administrator, custodian and/or trustee:
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 and by IKB International and IKB Deutsche Industriebank in New York state court. In each case, the plaintiffs allege that Wells Fargo Bank, N.A., as trustee, caused losses to investors, and plaintiffs assert causes of action based upon, among other things, the trustee’s alleged failure to notify and enforce repurchase obligations of mortgage loan sellers for purported breaches of representations and warranties, notify investors of alleged events of default, and abide by appropriate standards of care following alleged events of default. In July 2022, the district court dismissed Phoenix Light’s claims and certain of the claims asserted by Commerzbank AG, and subsequently entered judgment in each case in favor of Wells Fargo Bank, N.A. In August 2022, Phoenix Light and Commerzbank AG appealed the district court’s decision to the United States Court of Appeals for the Second Circuit. The Company previously settled two class actions filed by institutional investors and an action filed by the National Credit Union Administration with similar allegations. In addition, Park Royal I LLC and Park Royal II LLC have filed substantially similar lawsuits in New York state court alleging Wells Fargo Bank, N.A., as trustee, failed to take appropriate actions upon learning of defective mortgage loan documentation.
Item 6. Significant Obligors of Pool Assets.
The Northridge Fashion Center Mortgage Loan, which represented 10% or more of the pool assets held by the issuing entity as of its cut-off date, is no longer a pool asset.
The Town Center at Cobb mortgage loan constitutes a significant obligor within the meaning of Item 1101(k)(2) of Regulation AB as disclosed in the Prospectus Supplement filed with the SEC on June 26, 2012. In accordance with Item 1112(b) of Regulation AB, the most recent unaudited net operating income of the significant obligor was $10,087,460.00 for the period from January 1, 2022 to September 30, 2022.
Item 10. Exhibits.
(a) The following is a list of documents filed as part of this Report on Form 10-D:
(b) The exhibits required to be filed by the Registrant pursuant to this Form are listed above.
SIGNATURES
Pursuant to the requirements 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.
RBS Commercial Funding Inc.
(Depositor)
/s/ Adam Trebing
Adam Trebing, President
Date: February 1, 2023
ATTACHMENTS / EXHIBITS
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Galway Metals Announces Closing of Private Placement of Flow-Through Units
- Aterian Sets Date for First Quarter 2024 Earnings Announcement & Investor Conference Call
- AirBoss Announces Details for AGSM and Q1 2024 Results Timing
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
