**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

(Mark One)

**x****  ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2023or**

**o**** ****TRANSITIONREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from _____ to _____Commission file number of the issuing entity: 333-190246-17**

**Central Index Key Number of the issuing entity:0001652982**

**JPMBB Commercial MortgageSecurities Trust 2015-C32**

**(exact name of the issuing entity as specified in itscharter)**

** **

**Central Index Key Number of the depositor: 0001013611**

**J.P. Morgan Chase Commercial MortgageSecurities Corp.**

**(exact name of the depositor as specified in itscharter)**

** **

**Central Index Key Number of the sponsor: 0000835271**

**JPMorgan Chase Bank, NationalAssociation**

**(exact name of the sponsor as specified in its charter)**

** **

**Central Index Key Number of the sponsor: 0000312070**

**Barclays Bank PLC**

**(exact name of the sponsor as specified in its charter)**

** **

**Central Index Key Number of the sponsor: 0001682523**

**Starwood Mortgage Funding II LLC**

**(exact name of the sponsor as specified in its charter)**

** **

**Central Index Key Number of the sponsor: 0001576832**

**MC-Five Mile Commercial MortgageFinance LLC**

**(exact name of the sponsor as specified in its charter)**

** **

**Central Index Key Number of the sponsor: 0001567746**

**Redwood Commercial MortgageCorporation**

**(exact name of the sponsor as specified in its charter)**

** **

**Central Index Key Number of the sponsor: 0001587045**

**RAIT Funding, LLC**

**(exact name of the sponsor as specified in its charter)**

** **

| **New York****(State or other jurisdiction of  incorporation or organization of**

**the issuing entity)** | **38-3979800**

**38-3979801**

**38-7143637**

**(I.R.S. Employer**

**Identification Numbers)** |
|------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|

**c/o Computershare Trust Company, National Association, as agent for**

**Wells Fargo Bank, National Association**

**as Certificate Administrator**

**9062 Old Annapolis Road**

**Columbia, MD**

**(Address of principalexecutive offices of the issuing entity)**

**21045**

**(Zip Code)**

**Registrant’s telephone number,including area code:**

**(212) 834-5467**

Securities registered pursuant to Section 12(b) of the Act:

| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---------------------|-------------------|-------------------------------------------|
| None                |              |                                      |

 

 

Securities registered pursuant to Section 12(g) of theAct:  None.

Indicate by check mark if the registrant is a well-knownseasoned issuer, as defined in Rule 405 of the Securities Act.  o Yes ⌧No

Indicate by check mark if the registrant is not required tofile reports pursuant to Section 13 or Section 15(d) of the Act.  o Yes ⌧No

Indicate by check mark whether the registrant (1) has filedall reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.  ⌧ Yes oNo

Indicate by check mark whether the registrant has submittedelectronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (Section 232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).

Not applicable.

Indicate by check mark whether the registrant is a largeaccelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “largeaccelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act.

Large acceleratedfiler        o                                                                                                       Accelerated filer                                     o

Non-acceleratedfiler          ⌧                                                                                                       Smaller reportingcompany                    o

                                                                                                                                                       Emerging growthcompany                    o

If an emerging growth company, indicate by check mark if theregistrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act.  o

Indicate by check mark whether the registrant has filed areport on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report. o

If securities are registered pursuant to Section 12(b) of theAct, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issuedfinancial statements. o

Indicate by check mark whether any of those error correctionsare restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during therelevant recovery period pursuant to §240.10D-1(b). o

Indicate by check mark whether the registrant is a shellcompany (as defined in Rule 12b-2 of the Act).  o Yes ⌧ No

State the aggregate market value of the voting and non-votingcommon equity held by non-affiliates computed by reference to the price atwhich the common equity was last sold, or the average bid and asked price ofsuch common equity, as of the last business day of the registrant’s mostrecently completed second fiscal quarter.

Not applicable.

Indicate by check mark whether the registrant has filed alldocuments and reports required to be filed by Section 12, 13 or 15(d) of theSecurities Exchange Act of 1934 subsequent to the distribution of securitiesunder a plan confirmed by a court.  oYes oNo

Not applicable.

Indicate the number of shares outstanding of each of theregistrant’s classes of common stock, as of the latest practicable date.

Not applicable.

**DOCUMENTS INCORPORATED BY REFERENCE**

** **

List hereunder the following documents if incorporated byreference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) intowhich the document is incorporated: (1) Any annual report to security holders;(2) Any proxy or information statement; and (3) Any prospectus filed pursuantto Rule 424(b) or (c) under the Securities Act of 1933. The listed documentsshould be clearly described for identification purposes (e.g., annual report tosecurity holders for fiscal year ended December 24, 1980).

Not applicable.

 

** **

**EXPLANATORY NOTES**

The New Center One Building Mortgage Loan, whichconstituted approximately 1.7% of the asset pool of the issuing entity as ofits cut-off date, is an asset of the issuing entity and is part of a loancombination that includes the New Center One Building Mortgage Loan and oneother *pari passu* loan, which is not an asset of the issuing entity. Thisloan combination, including the New Center One Building Mortgage Loan, is beingserviced and administered pursuant to the Pooling and Servicing Agreement,which is incorporated by reference as Exhibit 4.1 to this Annual Report on Form10-K. 

The Exhibit Index describesexhibits provided by certain parties (in their capacities indicated on theExhibit Index) with respect to the One Shell Square Mortgage Loan, whichconstituted approximately 3.1% of the asset pool of the issuing entity as ofits cut-off date.  The One Shell Square Mortgage Loan is an asset of theissuing entity and is part of a loan combination that includes one other *paripassu* loan, which is not an asset of the issuing entity. The other *paripassu* portion of the loan combination was securitized in the JPMBBCommercial Mortgage Securities Trust 2015-C30 transaction, Commission FileNumber 333-190246-15 (the “JPMBB 2015-C30 Transaction”). This loancombination, including the One Shell Square Mortgage Loan, is being servicedand administered pursuant to the pooling and servicing agreement for the JPMBB2015-C30 Transaction, which is incorporated by reference as Exhibit 4.2 to thisAnnual Report on Form 10-K. The Brunswick Portfolio Mortgage Loan, previouslyan asset of the issuing entity being serviced under the pooling and servicingagreement for the JPMBB 2015-C30 Transaction, was not an asset of the issuingentity during the reporting period and is omitted from this Annual Report onForm 10-K and will be omitted from subsequent Annual Reports on Form 10-K.

The Exhibit Index describesexhibits provided by certain parties (in their capacities indicated on theExhibit Index) with respect to the Civic Opera Building Mortgage Loan, whichconstituted approximately 6.5% of the asset pool of the issuing entity as ofits cut-off date.  The Civic Opera Building Mortgage Loan is an asset ofthe issuing entity and is part of a loan combination that includes the CivicOpera Building Mortgage Loan and one other *pari passu* loan, which is notan asset of the issuing entity. The other *pari passu* portion of the loancombination was securitized in the JPMBB Commercial Mortgage Securities Trust2015-C31 transaction, Commission File Number 333-190246-16 (the “JPMBB2015-C31 Transaction”). This loan combination, including the Civic OperaBuilding Mortgage Loan, is being serviced and administered pursuant to thepooling and servicing agreement for the JPMBB 2015-C31 Transaction, which isincorporated by reference as Exhibit 4.3 to this Annual Report on Form 10-K.

The Exhibit Index describesexhibits provided by certain parties (in their capacities indicated on theExhibit Index) with respect to the U-Haul Portfolio Mortgage Loan, whichconstituted approximately 4.3% of the asset pool of the issuing entity as ofits cut-off date.  The U-Haul Portfolio Mortgage Loan is an asset of theissuing entity and is part of a loan combination that includes the U-Haul PortfolioMortgage Loan, two other *pari passu* loans and one subordinate companionloan, which are not assets of the issuing entity. A *pari passu* portionof the loan combination was securitized in the MSJP 2015-HAUL transaction (the“MSJP 2015-HAUL Transaction”). This loan combination, including theU-Haul Portfolio Mortgage Loan, is being serviced and administered pursuant tothe trust and servicing agreement for the MSJP 2015-HAUL Transaction, which isincorporated by reference as Exhibit 4.4 to this Annual Report on Form 10-K.

The master servicer of a poolingand servicing agreement or trust and servicing agreement also functions as theprimary servicer of the related mortgage loans serviced and administeredpursuant to such agreement unless a separate primary servicer is identifiedherein.  If this report does not identify a separate primary servicer, theservicer compliance statement provided by the master servicer under any suchagreement also encompasses its responsibilities as primary servicer of the relatedmortgage loan or mortgage loans.

Wells Fargo Bank, NationalAssociation is the master servicer and certificate administrator of themortgage loans serviced under the Pooling and Servicing Agreement, the primaryservicer of the One Shell Square Mortgage Loan and the primary servicer andspecial servicer of the U-Haul Portfolio Mortgage Loan. As a result, WellsFargo Bank, National Association is a “servicer” as defined in Item1108(a)(2)(iii) of Regulation AB, in the capacities described above, because itis servicing mortgage loans that constituted 10% or more of the assets of theissuing entity as of its cut-off date. The assessments of compliance withapplicable servicing criteria, accountants’ attestation reports and servicercompliance statements delivered by Wells Fargo Bank, National Association inthe capacities described above are listed in the Exhibit Index.

Wells Fargo Bank, NationalAssociation is the custodian of the mortgage loans serviced under the Poolingand Servicing Agreement, the Civic Opera Building Mortgage Loan and the OneShell Square Mortgage Loan.  As a result, Wells Fargo Bank, NationalAssociation is a servicing function participant in the capacities describedabove, because it is servicing mortgage loans that constituted 5% or more ofthe assets of the issuing entity as of its cut-off date. The assessments ofcompliance with applicable servicing criteria and accountants’ attestationreports delivered by Wells Fargo Bank, National Association in the capacitiesdescribed above are listed in the Exhibit Index.

LNR Partners, LLC is the specialservicer of the mortgage loans serviced under the Pooling and ServicingAgreement and the One Shell Square Mortgage Loan. As a result, LNR Partners,LLC is a “servicer” as defined in Item 1108(a)(2)(iii) of Regulation AB, in thecapacities described above, because it is servicing mortgage loans thatconstituted 10% or more of the assets of the issuing entity as of its cut-offdate. The assessments of compliance with applicable servicing criteria,accountants’ attestation reports and servicer compliance statements deliveredby LNR Partners, LLC in the capacities described above are listed in theExhibit Index.

Pentalpha Surveillance LLC is thesenior trust advisor of the mortgage loans serviced under the Pooling andServicing Agreement, the Civic Opera Building Mortgage Loan and the One ShellSquare Mortgage Loan.  As a result, Pentalpha Surveillance LLC is aservicing function participant in the capacities described above, because it isservicing mortgage loans that constituted 5% or more of the assets of theissuing entity as of its cut-off date. The assessments of compliance withapplicable servicing criteria and accountants’ attestation reports delivered byPentalpha Surveillance LLC in the capacities described above are listed in theExhibit Index.

Wells Fargo Bank, NationalAssociation acts as trustee of the Civic Opera Building Mortgage Loan. Pursuant to the pooling and servicing agreement for the JPMBB 2015-C31Transaction, the trustee is required to provide an assessment of compliancewith applicable servicing criteria solely with respect to Item 1122(d)(2)(iii)of Regulation AB (regarding advances of funds or guarantees regardingcollections, cash flows or distributions, and any interest or other feescharged for such advances, are made, reviewed and approved as specified in thetransaction agreements). However, during the reporting period, the trustee didnot perform any servicing function with respect to the servicing criteriaspecified in Item 1122(d)(2)(iii) of Regulation AB.  The master serviceror the special servicer, to the extent required, performed the servicingfunction identified with respect to Item 1122(d)(2)(iii) of Regulation AB, andeach such party included Item 1122(d)(2)(iii) of Regulation AB in theassessment of compliance with applicable servicing criteria and accountant’sattestation report for the subject transaction.  As a result, this AnnualReport on Form 10-K does not include an assessment of compliance with applicableservicing criteria of the trustee. One or more other servicers of the CivicOpera Building Mortgage Loan have delivered one or more assessments ofcompliance with respect to Item 1122(d)(2)(iii) of Regulation AB.

Wilmington Trust, NationalAssociation acts as trustee of the mortgage loans serviced under the Poolingand Servicing Agreement and the One Shell Square Mortgage Loan.  Pursuantto the Pooling and Servicing Agreement and the pooling and servicing agreementfor the JPMBB 2015-C30 Transaction, the trustee is required to provide anassessment of compliance with applicable servicing criteria solely with respectto Item 1122(d)(2)(iii) of Regulation AB (regarding advances of funds orguarantees regarding collections, cash flows or distributions, and any interestor other fees charged for such advances, are made, reviewed and approved asspecified in the transaction agreements). However, during the reporting period,the trustee did not perform any servicing function with respect to theservicing criteria specified in Item 1122(d)(2)(iii) of Regulation AB. The master servicer or the special servicer, to the extent required, performedthe servicing function identified with respect to Item 1122(d)(2)(iii) ofRegulation AB, and each such party included Item 1122(d)(2)(iii) of RegulationAB in the assessment of compliance with applicable servicing criteria andaccountant’s attestation report for the subject transaction.  As a result,this Annual Report on Form 10-K does not include an assessment of compliance withapplicable servicing criteria of the trustee. One or more other servicers ofthe mortgage loans serviced under the Pooling and Servicing Agreement and theOne Shell Square Mortgage Loan have delivered one or more assessments ofcompliance with respect to Item 1122(d)(2)(iii) of Regulation AB.

U.S. Bank Trust Company, NationalAssociation acts as trustee of the U-Haul Portfolio Mortgage Loan. Pursuant to the trust and servicing agreement for the MSJP 2015-HAULTransaction, the trustee is required to provide an assessment of compliancewith applicable servicing criteria solely with respect to Item 1122(d)(2)(iii)of Regulation AB (regarding advances of funds or guarantees regardingcollections, cash flows or distributions, and any interest or other fees chargedfor such advances, are made, reviewed and approved as specified in thetransaction agreements). However, during the reporting period, the trustee didnot perform any servicing function with respect to the servicing criteriaspecified in Item 1122(d)(2)(iii) of Regulation AB.  The master serviceror the special servicer, to the extent required, performed the servicingfunction identified with respect to Item 1122(d)(2)(iii) of Regulation AB, andeach such party included Item 1122(d)(2)(iii) of Regulation AB in theassessment of compliance with applicable servicing criteria and accountant’sattestation report for the subject transaction.  As a result, this AnnualReport on Form 10-K does not include an assessment of compliance withapplicable servicing criteria of the trustee. One or more other servicers ofthe U-Haul Portfolio Mortgage Loan have delivered one or more assessments ofcompliance with respect to Item 1122(d)(2)(iii) of Regulation AB.

This Annual Report on Form 10-Kincludes assessments of compliance with applicable servicing criteria andaccountants’ attestation reports from CoreLogic Solutions, LLC.  Thisentity was engaged by the master servicer under the Pooling and ServicingAgreement and the primary servicer of the One Shell Square Mortgage Loan andthe U-Haul Portfolio Mortgage Loan to remit tax payments received from theescrow accounts of borrowers to local taxing authorities, to report tax amountsdue, to verify tax parcel information, and to verify non-escrow tax payments.These servicing functions are included within the servicing criteria set forthin Items 1122(d)(4)(xi) and 1122(d)(4)(xii) of Regulation AB.  Therefore,under the principles-based definition of “servicer” set forth in Item 1101(j)of Regulation AB that looks to the functions that an entity performs, thisvendor is a “servicer” for the purposes of Item 1122 of Regulation AB.  *See*Compliance and Disclosure Interpretations, Section 301.01 (Item 1101(j)).

This AnnualReport on Form 10-K includes an assessment of compliance with applicableservicing criteria, accountants’ attestation report and servicer compliancestatement from Computershare Trust Company, National Association (“CTCNA”). CTCNA was engaged by Wells Fargo Bank, National Association (“Wells Fargo”),in its capacity as certificate administrator and custodian, to perform certainspecified servicing functions identified in the assessment of compliance withapplicable servicing criteria and accountants’ attestation reports.  WellsFargo engaged CTCNA in connection with the sale of Wells Fargo’s corporatetrust services business to CTCNA and its affiliates.  Further, under theprinciples-based definition of “servicer” set forth in Item 1101(j) ofRegulation AB that looks to the functions that an entity performs, this partyis a “servicer” for the purposes of Item 1123 of Regulation AB.  *See*Compliance and Disclosure Interpretations, Section 301.01 (Item 1101(j)).

The assessments of compliance withapplicable servicing criteria, accountants’ attestation reports and servicercompliance statements of the certificate administrator of the One Shell SquareMortgage Loan, the Civic Opera Building Mortgage Loan and the U-Haul PortfolioMortgage Loan are omitted from this Annual Report on Form 10-K as thecertificate administrator pursuant to the related pooling and servicingagreement or trust and servicing agreement does not perform any activities thataddress servicing criteria with respect to the issuing entity and because theyare each not a “servicer” that meets the criteria in Item 1108(a)(2)(i) through(iii) of Regulation AB.

With respect to the *pari passu*loan combinations that include the Civic Opera Building Mortgage Loan and theU-Haul Portfolio Mortgage Loan, (i) the report on assessment of compliance withservicing criteria and attestation report on assessment of compliance withservicing criteria of U.S. Bank National Association as custodian of the U-HaulPortfolio Mortgage Loan, listed on the Exhibit Index are omitted from thisAnnual Report on Form 10-K as they are not required to be included on thisAnnual Report on Form 10-K per Instruction 3 to Item 1122 of Regulation ABbecause it is a party performing activities that address servicing criteriarelating to 5% or less of the assets of the issuing entity; and (ii) theservicer compliance statements of Midland Loan Services, a Division of PNCBank, National Association as primary servicer of the Civic Opera BuildingMortgage Loan and Rialto Capital Advisors, LLC as special servicer of the CivicOpera Building Mortgage Loan, listed on the Exhibit Index are omitted from thisAnnual Report on Form 10-K as they are not required by Item 1123 of RegulationAB to be included on this Annual Report on Form 10-K because they are each anunaffiliated party that is not a “servicer” that meets the criteria in Item1108(a)(2)(i) through (iii) of Regulation AB.

**PART I**

**Item 1.  Business.**

Omitted.

**Item 1A.  Risk Factors.**

Omitted.

**Item 1B.  Unresolved Staff Comments.**

None.

**Item 1C.  Cybersecurity.**

Omitted.

**Item 2.  Properties.**

Omitted.

**Item 3.  Legal Proceedings.**

Omitted.

**Item 4.  Mine Safety Disclosures.**

Not applicable.

**PART II**

**Item 5.  Market for Registrant’s Common Equity,Related Stockholder Matters and Issuer Purchases of Equity Securities.**

Omitted.

**Item 6.**

[Reserved].

**Item 7.  Management’s Discussion and Analysis ofFinancial Condition and Results of Operations.**

Omitted.

**Item 7A.  Quantitative and Qualitative DisclosuresAbout Market Risk.**

Omitted.

**Item 8.  Financial Statements and Supplementary Data.**

Omitted.

**Item 9.  Changes in and Disagreements WithAccountants on Accounting and Financial Disclosure.**

Omitted.

**Item 9A.  Controls and Procedures.**

Omitted.

**Item 9B.  Other Information.**

None.

**Item 9C.  Disclosure Regarding Foreign Jurisdictionsthat Prevent Inspections.**

None.

**PART III**

**Item 10.  Directors, Executive Officers and CorporateGovernance.**

Omitted.

**Item 11.  Executive Compensation.**

Omitted.

**Item 12.  Security Ownership of Certain Beneficial Ownersand Management and Related Stockholder Matters.**

Omitted.

**Item 13.  Certain Relationships and RelatedTransactions, 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 ObligorFinancial Information.**

No single obligor represents 10% or more of the pool assetsheld by the issuing entity. 

**Item 1114(b)(2) of Regulation AB, Significant EnhancementProvider Financial Information.**

No entity or group of affiliated entities provides any external creditenhancement or other support for the certificates within this transaction asdescribed 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 anyderivative instruments or other support for the certificates within thistransaction as described under Item 1115 of Regulation AB.

**Item 1117of Regulation AB, Legal Proceedings.**

The registrant knows of no material pending legalproceeding involving the trust or any party related to the trust, other thanroutine litigation incidental to the duties of those respective parties, andthe following, with respect to Wells Fargo Bank, National Association, astrustee, as certificate administrator and as custodian, U.S. Bank TrustCompany, National Association, as trustee and as certificate administrator, andU.S. Bank National Association, as custodian.

In December 2014, Phoenix Light SF Limited (Phoenix Light)and certain related entities filed a complaint in the United States DistrictCourt for the Southern District of New York alleging claims against Wells FargoBank, N.A., in its capacity as trustee for a number of residential mortgage-backedsecurities (RMBS) trusts. Complaints raising similar allegations have beenfiled by Commerzbank AG in the Southern District of New York, IKB Internationaland IKB Deutsche Industriebank (together, IKB) in New York state court, andPark Royal I LLC and Park Royal II LLC in New York state court. In each case,the plaintiffs allege that Wells Fargo Bank, N.A., as trustee, caused losses toinvestors, and plaintiffs assert causes of action based upon, among otherthings, the trustee’s alleged failure to notify and enforce repurchaseobligations of mortgage loan sellers for purported breaches of representationsand warranties, notify investors of alleged events of default, and abide byappropriate standards of care following alleged events of default. In July2022, the district court dismissed Phoenix Light’s claims and certain of theclaims asserted by Commerzbank AG, and subsequently entered judgment in eachcase in favor of Wells Fargo Bank, N.A. In August 2022, Phoenix Light andCommerzbank AG each appealed the district court’s decision to the United StatesCourt of Appeals for the Second Circuit. Phoenix Light dismissed its appeal inMay 2023, terminating its case. In November 2023, Wells Fargo Bank, N.A.entered into an agreement with IKB to resolve IKB’s claims. Wells Fargo Bank,N.A. previously settled two class actions filed by institutional investors andan action filed by the National Credit Union Administration with similarallegations.

U.S. Bank National Association (“U.S. Bank”) and other largefinancial institutions have been sued in their capacity as trustee or successortrustee for certain residential mortgage backed securities ("RMBS")trusts.  The complaints, primarily filed by investors or investor groupsagainst U.S. Bank and similar institutions, allege the trustees caused lossesto investors as a result of alleged failures by the sponsors, mortgage loansellers and servicers to comply with the governing agreements for these RMBStrusts.  Plaintiffs generally assert causes of action based upon thetrustees’ purported failures to enforce repurchase obligations of mortgage loansellers for alleged breaches of representations and warranties, notifysecurityholders of purported events of default allegedly caused by breaches ofservicing standards by mortgage loan servicers and abide by a heightenedstandard of care following alleged events of default.  

U.S. Bank denies liability and believes that it has performedits obligations under the RMBS trusts in good faith, that its actions were notthe cause of losses to investors, that it has meritorious defenses, and it hascontested and intends to continue contesting the plaintiffs’ claimsvigorously.  However, U.S. Bank cannot assure you as to the outcome of anyof the litigation, or the possible impact of these litigations on the trusteeor the RMBS trusts.  

On March 9, 2018, a law firm purporting to represent fifteenDelaware statutory trusts (the “DSTs”) that issued securities backed by studentloans (the “Student Loans”) filed a lawsuit in the Delaware Court of Chanceryagainst U.S. Bank National Association (“U.S. Bank”) in its capacities asindenture trustee and successor special servicer, and three other institutionsin their respective transaction capacities, with respect to the DSTs and theStudent Loans.  This lawsuit is captioned The National Collegiate StudentLoan Master Trust I, et al. v. U.S. Bank National Association, et al., C.A. No.2018-0167-JRS (Del. Ch.) (the “NCMSLT Action”).  The complaint, as amendedon June 15, 2018, alleged that the DSTs have been harmed as a result ofpurported misconduct or omissions by the defendants concerning administrationof the trusts and special servicing of the Student Loans.  Since thefiling of the NCMSLT Action, certain Student Loan borrowers have madeassertions against U.S. Bank concerning special servicing that appear to bebased on certain allegations made on behalf of the DSTs in the NCMSLT Action.

U.S. Bank has filed a motion seeking dismissal of theoperative complaint in its entirety with prejudice pursuant to Chancery CourtRules 12(b)(1) and 12(b)(6) or, in the alternative, a stay of the case whileother prior filed disputes involving the DSTs and the Student Loans arelitigated.  On November 7, 2018, the Court ruled that the case should bestayed in its entirety pending resolution of the first-filed cases.  OnJanuary 21, 2020, the Court entered an order consolidating for pretrialpurposes the NCMSLT Action and three other lawsuits pending in the DelawareCourt of Chancery concerning the DSTs and the Student Loans, which remainspending.  

U.S. Bank denies liability in theNCMSLT Action and believes it has performed its obligations as indenturetrustee and special servicer in good faith and in compliance in all materialrespects with the terms of the agreements governing the DSTs and that it hasmeritorious defenses.  It has contested and intends to continue contestingthe plaintiffs’ claims vigorously.

**Item 1119 of Regulation AB, Affiliations and CertainRelationships and Related Transactions.**

The information regarding this Item has been previouslyprovided in a prospectus supplement of the Registrant relating to the issuingentity filed on October 29, 2015 pursuant to Rule 424(b)(5).

**Item 1122 of Regulation AB, Compliance with ApplicableServicing Criteria.**

The reports on assessments of compliance with the servicingcriteria for asset-backed securities and related attestation reports on suchassessments of compliance with respect to the mortgage loans are attachedhereto under Item 15 to this Annual Report on Form 10-K. Attached as Exhibit AAto the Pooling and Servicing Agreement incorporated by reference as Exhibit 4.1to this Annual Report on Form 10-K is a chart identifying the entitiesparticipating in a servicing function for the transaction responsible for eachapplicable servicing criteria set forth in Item 1122(d).

The reports on assessments of compliance with the servicingcriteria for asset-backed securities and related attestation reports on suchassessments of compliance with respect to the One Shell Square Mortgage Loan,which is being serviced and administered pursuant to the pooling and servicingagreement for the JPMBB 2015-C30 Transaction, are attached hereto under Item 15to this Annual Report on Form 10-K. Attached as Exhibit AA to the pooling andservicing agreement for the JPMBB 2015-C30 Transaction incorporated byreference as Exhibit 4.2 to this Annual Report on Form 10-K is a chartidentifying the entities participating in a servicing function for the JPMBB2015-C30 Transaction responsible for each applicable servicing criteria setforth in Item 1122(d).

The reports on assessments of compliance with the servicing criteriafor asset-backed securities and related attestation reports on such assessmentsof compliance with respect to the Civic Opera Building Mortgage Loan, which isbeing serviced and administered pursuant to the pooling and servicing agreementfor the JPMBB 2015-C31 Transaction, are attached hereto under Item 15 to thisAnnual Report on Form 10-K. Attached as Exhibit AA to the pooling and servicingagreement for the JPMBB 2015-C31 Transaction incorporated by reference asExhibit 4.3 to this Annual Report on Form 10-K is a chart identifying theentities participating in a servicing function for the JPMBB 2015-C31Transaction responsible for each applicable servicing criteria set forth inItem 1122(d).

The reports on assessments of compliance with the servicingcriteria for asset-backed securities and related attestation reports on suchassessments of compliance with respect to the U-Haul Portfolio Mortgage Loan,which is being serviced and administered pursuant to the trust and servicingagreement for the MSJP 2015-HAUL Transaction, are attached hereto under Item 15to this Annual Report on Form 10-K. Attached as Exhibit L to the trust andservicing agreement for the MSJP 2015-HAUL Transaction incorporated byreference as Exhibit 4.4 to this Annual Report on Form 10-K is a chartidentifying the entities participating in a servicing function for the MSJP2015-HAUL Transaction responsible for each applicable servicing criteria setforth in Item 1122(d).

**Item 1123 of Regulation AB, Servicer Compliance Statement.**

The servicer compliancestatements are attached as Exhibits to this Annual Report on Form 10-K.

**PART IV**

**Item 15. Exhibit and Financial Statement Schedules.**

(a) The following is a list of documents filed as part ofthis Annual Report on Form 10-K:

(1) Not applicable

(2) Not applicable

(3) See below

4.1          Pooling and Servicing Agreement, dated as of October 1,2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., asDepositor, Wells Fargo Bank, National Association, as Master Servicer, LNRPartners, LLC, as Special Servicer, Wells Fargo Bank, National Association, asCertificate Administrator, Wilmington Trust, National Association, as Trustee,and Pentalpha Surveillance LLC, as Senior Trust Advisor (filed as Exhibit 4.1to the registrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein).

4.2          Pooling and Servicing Agreement, dated as of July 1,2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., asDepositor, Wells Fargo Bank, National Association, as Master Servicer,Torchlight Loan Services, LLC, as Special Servicer, Wells Fargo Bank, NationalAssociation, as Certificate Administrator, Wilmington Trust, National Association,as Trustee, and Pentalpha Surveillance LLC, as Senior Trust Advisor (filed asExhibit 4.4 to the registrant’s Current Report on Form 8-K filed on October 29,2015 under Commission File No. 333-190246-17 and incorporated by referenceherein).

4.3          Pooling and Servicing Agreement, dated as of August 1,2015, by and among J.P. Morgan Chase Commercial Mortgage Securities Corp., asDepositor, Midland Loan Services, a Division of PNC Bank, National Association,as Master Servicer, Midland Loan Services, a Division of PNC Bank, NationalAssociation, as Special Servicer, Wells Fargo Bank, National Association, asCertificate Administrator, Wells Fargo Bank, National Association, as Trustee,and Pentalpha Surveillance LLC, as Senior Trust Advisor (filed as Exhibit 4.2to the registrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein).

4.4          Trust and Servicing Agreement, dated as of October 1,2015, by and among Morgan Stanley Capital I Inc., as Depositor, Wells FargoBank, National Association, as Servicer and Special Servicer, and U.S. BankNational Association, as Certificate Administrator and Trustee (filed asExhibit 4.3 to the registrant’s Current Report on Form 8-K filed on October 29,2015 under Commission File No. 333-190246-17 and incorporated by referenceherein).

4.5          Co-Lender Agreement, dated as of August 28, 2015, by andbetween JPMorgan Chase Bank, National Association, as Initial Note A-1 Holder,and JPMorgan Chase Bank, National Association, as Initial Note A-2 Holder(filed as Exhibit 4.5 to the registrant’s Current Report on Form 8-K filed onOctober 29, 2015 under Commission File No. 333-190246-17 and incorporated byreference herein).

4.6          Agreement Between Note Holders, dated as of September 1,2015, by and between Morgan Stanley Bank, N.A., as Initial Note 1 Holder, and JPMorganChase Bank, National Association, as Initial Note 2 Holder (filed as Exhibit4.6 to the registrant’s Current Report on Form 8-K filed on October 29, 2015under Commission File No. 333-190246-17 and incorporated by reference herein).

4.7          Co-Lender Agreement, dated as of July 28, 2015, by andbetween JPMorgan Chase Bank, National Association, as Initial Note A-1 Holder,and JPMorgan Chase Bank, National Association, as Initial Note A-2 Holder(filed as Exhibit 4.8 to the registrant’s Current Report on Form 8-K filed onOctober 29, 2015 under Commission File No. 333-190246-17 and incorporated byreference herein).

4.8          Co-Lender Agreement, dated as of October 29, 2015, by andbetween JPMorgan Chase Bank, National Association, as Initial Note A-1 Holder,and JPMorgan Chase Bank, National Association, as Initial Note A-2 Holder(filed as Exhibit 4.12 to the registrant’s Current Report on Form 8-K filed onOctober 29, 2015 under Commission File No. 333-190246-17 and incorporated byreference herein).

31           Rule 13a-14(d)/15d-14(d) Certifications.

33           Reports on assessment of compliance with servicing criteria for asset-backedsecurities.

33.1        Wells Fargo Bank, National Association, as MasterServicer

33.2        LNR Partners, LLC, as Special Servicer

33.3        Wilmington Trust, National Association, as Trustee (Omitted. See ExplanatoryNotes.)

33.4        Wells Fargo Bank, National Association, asCertificate Administrator

33.5        Wells Fargo Bank, National Association, asCustodian

33.6        Pentalpha Surveillance LLC, as Senior Trust Advisor

33.7        CoreLogic Solutions, LLC, as Servicing FunctionParticipant

33.8        Computershare Trust Company, National Association,as Servicing Function Participant for the Certificate Administrator

33.9        Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian

33.10      Wells Fargo Bank, National Association, as Primary Servicerof the New Center One Building Mortgage Loan (see Exhibit 33.1)

33.11      LNR Partners, LLC, as Special Servicer of the NewCenter One Building Mortgage Loan (see Exhibit 33.2)

33.12      Wilmington Trust, National Association, as Trustee of the New Center OneBuilding Mortgage Loan (Omitted. See Explanatory Notes.)

33.13      Wells Fargo Bank, National Association, asCustodian of the New Center One Building Mortgage Loan (see Exhibit 33.5)

33.14      Pentalpha Surveillance LLC, as Senior Trust Advisorof the New Center One Building Mortgage Loan (see Exhibit 33.6)

33.15      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the New Center One Building Mortgage Loan (see Exhibit 33.7)

33.16       Computershare Trust Company, National Association, asServicing Function Participant for the Custodian (see Exhibit 33.9)

33.17      Wells Fargo Bank, National Association, as PrimaryServicer of the One Shell Square Mortgage Loan (see Exhibit 33.1)

33.18      LNR Partners, LLC, as Special Servicer of the OneShell Square Mortgage Loan (see Exhibit 33.2)

33.19      Wilmington Trust, National Association, as Trustee of the One Shell SquareMortgage Loan (Omitted. See Explanatory Notes.)

33.20      Wells Fargo Bank, National Association, asCustodian of the One Shell Square Mortgage Loan (see Exhibit 33.5)

33.21      Pentalpha Surveillance LLC, as Senior Trust Advisorof the One Shell Square Mortgage Loan (see Exhibit 33.6)

33.22      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the One Shell Square Mortgage Loan (see Exhibit 33.7)

33.23      Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian (see Exhibit 33.9)

33.24      Midland Loan Services, a Division of PNC Bank,National Association, as Primary Servicer of the Civic Opera Building MortgageLoan

33.25      Rialto Capital Advisors, LLC, as Special Servicerof the Civic Opera Building Mortgage Loan

33.26      Wells Fargo Bank, National Association, as Trustee of the Civic Opera BuildingMortgage Loan (Omitted. See Explanatory Notes.)

33.27      Wells Fargo Bank, National Association, asCustodian of the Civic Opera Building Mortgage Loan (see Exhibit 33.5)

33.28      Pentalpha Surveillance LLC, as Senior Trust Advisorof the Civic Opera Building Mortgage Loan (see Exhibit 33.6)

33.29      Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian (see Exhibit 33.9)

33.30      Wells Fargo Bank, National Association, as PrimaryServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 33.1)

33.31      Wells Fargo Bank, National Association, as SpecialServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 33.1)

33.32      U.S. Bank Trust Company, National Association, as Trustee of the U-Haul PortfolioMortgage Loan (Omitted. See Explanatory Notes.)

33.33      U.S. Bank National Association, as Custodian of the U-Haul Portfolio MortgageLoan (Omitted. See Explanatory Notes.)

33.34      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the U-Haul Portfolio Mortgage Loan (see Exhibit 33.7)

34           Attestationreports on assessment of compliance with servicing criteria for asset-backed securities.

34.1        Wells Fargo Bank, National Association, as MasterServicer

34.2        LNR Partners, LLC, as Special Servicer

34.3        Wilmington Trust, National Association, as Trustee (Omitted. See ExplanatoryNotes.)

34.4        Wells Fargo Bank, National Association, asCertificate Administrator

34.5        Wells Fargo Bank, National Association, asCustodian

34.6        Pentalpha Surveillance LLC, as Senior Trust Advisor

34.7        CoreLogic Solutions, LLC, as Servicing FunctionParticipant

34.8        Computershare Trust Company, National Association,as Servicing Function Participant for the Certificate Administrator

34.9        Computershare Trust Company, National Association, asServicing Function Participant for the Custodian

34.10      Wells Fargo Bank, National Association, as PrimaryServicer of the New Center One Building Mortgage Loan (see Exhibit 34.1)

34.11      LNR Partners, LLC, as Special Servicer of the NewCenter One Building Mortgage Loan (see Exhibit 34.2)

34.12      Wilmington Trust, National Association, as Trustee of the New Center OneBuilding Mortgage Loan (Omitted. See Explanatory Notes.)

34.13      Wells Fargo Bank, National Association, asCustodian of the New Center One Building Mortgage Loan (see Exhibit 34.5)

34.14      Pentalpha Surveillance LLC, as Senior Trust Advisorof the New Center One Building Mortgage Loan (see Exhibit 34.6)

34.15      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the New Center One Building Mortgage Loan (see Exhibit 34.7)

34.16      Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian (see Exhibit 34.9)

34.17      Wells Fargo Bank, National Association, as PrimaryServicer of the One Shell Square Mortgage Loan (see Exhibit 34.1)

34.18      LNR Partners, LLC, as Special Servicer of the OneShell Square Mortgage Loan (see Exhibit 34.2)

34.19      Wilmington Trust, National Association, as Trustee of the One Shell SquareMortgage Loan (Omitted. See Explanatory Notes.)

34.20      Wells Fargo Bank, National Association, asCustodian of the One Shell Square Mortgage Loan (see Exhibit 34.5)

34.21      Pentalpha Surveillance LLC, as Senior Trust Advisorof the One Shell Square Mortgage Loan (see Exhibit 34.6)

34.22      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the One Shell Square Mortgage Loan (see Exhibit 34.7)

34.23      Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian (see Exhibit 34.9)

34.24      Midland Loan Services, a Division of PNC Bank,National Association, as Primary Servicer of the Civic Opera Building MortgageLoan

34.25      Rialto Capital Advisors, LLC, as Special Servicerof the Civic Opera Building Mortgage Loan

34.26      Wells Fargo Bank, National Association, as Trustee of the Civic Opera BuildingMortgage Loan (Omitted. See Explanatory Notes.)

34.27      Wells Fargo Bank, National Association, asCustodian of the Civic Opera Building Mortgage Loan (see Exhibit 34.5)

34.28      Pentalpha Surveillance LLC, as Senior Trust Advisorof the Civic Opera Building Mortgage Loan (see Exhibit 34.6)

34.29      Computershare Trust Company, National Association,as Servicing Function Participant for the Custodian (see Exhibit 34.9)

34.30      Wells Fargo Bank, National Association, as PrimaryServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 34.1)

34.31      Wells Fargo Bank, National Association, as SpecialServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 34.1)

34.32      U.S. Bank Trust Company, National Association, as Trustee of the U-Haul PortfolioMortgage Loan (Omitted. See Explanatory Notes.)

34.33      U.S. Bank National Association, as Custodian of the U-Haul Portfolio MortgageLoan (Omitted. See Explanatory Notes.)

34.34      CoreLogic Solutions, LLC, as Servicing FunctionParticipant of the U-Haul Portfolio Mortgage Loan (see Exhibit 34.7)

35           Servicer compliance statements.

35.1        Wells Fargo Bank, National Association, as MasterServicer

35.2        LNR Partners, LLC, as Special Servicer

35.3        Wells Fargo Bank, National Association, asCertificate Administrator

35.4        Computershare Trust Company, National Association,as Servicing Function Participant for the Certificate Administrator

35.5        Wells Fargo Bank, National Association, as PrimaryServicer of the New Center One Building Mortgage Loan (see Exhibit 35.1)

35.6        LNR Partners, LLC, as Special Servicer of the NewCenter One Building Mortgage Loan (see Exhibit 35.2)

35.7        Wells Fargo Bank, National Association, as PrimaryServicer of the One Shell Square Mortgage Loan (see Exhibit 35.1)

35.8        LNR Partners, LLC, as Special Servicer of the OneShell Square Mortgage Loan (see Exhibit 35.2)

35.9      Midland Loan Services, a Division of PNC Bank, National Association, as PrimaryServicer of the Civic Opera Building Mortgage Loan (Omitted. See ExplanatoryNotes.) 

35.10      Rialto Capital Advisors, LLC, as Special Servicer of the Civic Opera BuildingMortgage Loan (Omitted. See Explanatory Notes.)

35.11      Wells Fargo Bank, National Association, as PrimaryServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 35.1)

35.12      Wells Fargo Bank, National Association, as SpecialServicer of the U-Haul Portfolio Mortgage Loan (see Exhibit 35.1)

99.1         Mortgage Loan Purchase Agreement, dated as of October 29,2015, between J.P. Morgan Chase Commercial Mortgage Securities Corp. andJPMorgan Chase Bank, National Association (filed as Exhibit 99.1 to theregistrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein)

99.2         Mortgage Loan Purchase Agreement, dated as of October 29,2015, between J.P. Morgan Chase Commercial Mortgage Securities Corp. andBarclays Bank PLC (filed as Exhibit 99.2 to the registrant’s Current Report onForm 8-K filed on October 29, 2015 under Commission File No. 333-190246-17 andincorporated by reference herein)

99.3         Mortgage Loan Purchase Agreement, dated as of October 29,2015, among J.P. Morgan Chase Commercial Mortgage Securities Corp., StarwoodMortgage Funding II LLC and Starwood Mortgage Capital LLC (filed as Exhibit 99.3to the registrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein)

99.4         Mortgage Loan Purchase Agreement, dated as of October 29,2015, between J.P. Morgan Chase Commercial Mortgage Securities Corp. andMC-Five Mile Commercial Mortgage Finance LLC (filed as Exhibit 99.4 to theregistrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein)

99.5         Mortgage Loan Purchase Agreement, dated as of October 29,2015, among J.P. Morgan Chase Commercial Mortgage Securities Corp., RedwoodCommercial Mortgage Corporation and Redwood Trust, Inc. (filed as Exhibit 99.5to the registrant’s Current Report on Form 8-K filed on October 29, 2015 underCommission File No. 333-190246-17 and incorporated by reference herein)

99.6         Mortgage Loan Purchase Agreement, dated as of October 29,2015, between J.P. Morgan Chase Commercial Mortgage Securities Corp. and RAITFunding, LLC (filed as Exhibit 99.6 to the registrant’s Current Report on Form8-K filed on October 29, 2015 under Commission File No. 333-190246-17 andincorporated by reference herein)

(b)   The exhibits required to be filed by the Registrantpursuant to Item 601 of Regulation S-K are listed above.

(c)    Not Applicable.

 

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of theSecurities Exchange Act of 1934, the registrant has duly caused this report tobe signed on its behalf by the undersigned, thereunto duly authorized.

J.P. Morgan Chase CommercialMortgage Securities Corp.(Depositor)

/s/ KunalK. Singh

Kunal K.Singh, President and Chief Executive Officer

(senior officer in charge ofsecuritization of the depositor)

Date: March 12, 2024