**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,D.C. 20549**

**FORM 10‐K**

 

(Mark one)

**/X/ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**    For the fiscal year endedDecember 31, 2021 OR**

**//TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934**

**For the transition period from****            ****to****            **

 

 

 

**Commission file number:333-180779-19**

 

**Central Index Key Number of the issuingentity:0001655591**

 

**Morgan Stanley Bank of America Merrill Lynch Trust2015-C26**

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

 

**Central Index Key Number of the depositor:0001547361**

 

**Morgan Stanley Capital I Inc.**

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

 

**Central Index Key Number of the sponsor:0001541557**

 

**Morgan Stanley Mortgage Capital Holdings LLC**

**(exact names of the sponsors as specified in theircharters)**

 

**Central Index Key Number of the sponsor:0001102113**

 

**Bank of America, National Association**

**(exact names of the sponsors as specified in theircharters)**

 

**Central Index Key Number of the sponsor:0001548567**

 

**CIBC Inc.**

**(exact names of the sponsors as specified in theircharters)**

 

**Central Index Key Number of the sponsor:0001682532**

 

**Starwood Mortgage Funding III LLC**

**(exact names of the sponsors as specified in theircharters)**

 

| **New York**                                                        | **38‐3979808  38‐3979809  38‐3979810  38‐7143638** |
|---------------------------------------------------------------------|----------------------------------------------------------------------------|
| **(State or other jurisdiction of incorporation or  organization)** | **(I.R.S. Employer Identification Numbers)**                               |

 

**c/o Wells Fargo Bank, N.A.**

**9062 Old Annapolis Road**

** Columbia, MD**

**(Address of principal executive offices)**

 

**21045**

**(Zip Code)**

 

**Telephone number, including area code:**

**(410) 884‐2000**

Securitiesregistered pursuant to Section 12(b) of the Act:

 

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

 

Securitiesregistered pursuant to Section 12(g) of the Act:

 

  NONE.

 

Indicateby check mark if the registrant is a well-known seasoned issuer, as defined inRule 405 of the Securities Act.

 

  Yes___ No X

 

Indicateby check mark if the registrant is not required to file reports pursuant toSection 13 or Section 15(d) of the Act.

 

  Yes___ No X

 

Note- Checking the box above will not relieve any registrant required to filereports pursuant to Section 13 or 15(d) of the Exchange Act from theirobligations under those Sections.

 

Indicate by check mark whether the registrant (1) has filed all reportsrequired to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days.

 

  YesX No ___

 

Indicateby check mark whether the registrant has submitted electronically everyInteractive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (Section 232.405 of this chapter) during the preceding 12 months(or for such shorter period that the registrant was required to submit suchfiles).

 

  Notapplicable.

  

Indicateby check mark whether the registrant is a large accelerated filer, anaccelerated filer, a non-accelerated filer, a smaller reporting company, oremerging growth company. See the definitions of "large acceleratedfiler", "accelerated filer," "smaller reportingcompany," and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 Largeaccelerated filer ___ Accelerated filer ___ Non-accelerated filer X (Do not check if a smaller reporting company)Smaller reporting company ___

 

Emerginggrowth company ___

 

Ifan emerging growth company, indicate by check mark if the registrant haselected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) ofthe Ex­change Act.

 

  Notapplicable.

 

Indicate by check mark whether the registrant has fileda report 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.

 

  Notapplicable.

 

Indicateby check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).

 

  Yes___ No X

 

Statethe aggregate market value of the voting and non-voting common equity held bynon-affiliates computed by reference to the price at which the common equitywas last sold, or the average bid and asked price of such common equity, as ofthe last business day of the registrant's most recently completed second fiscalquarter.

 

  Notapplicable.

 

Indicateby check mark whether the registrant has filed all documents and reportsrequired to be filed by Section 12, 13 or 15(d) of the Securities Exchange Actof 1934 subsequent to the distribution of securities under a plan confirmed bya court.

 

  Notapplicable.

 

Indicatethe number of shares outstanding of each of the registrant's classes of commonstock, as of the latest practicable date.

 

  Notapplicable.

 

DOCUMENTSINCORPORATED BY REFERENCE

 

Listhereunder the following documents if incorporated by reference and the Part ofthe Form 10-K (e.g., Part I, Part II, etc.) into which the document isincorporated: (1)Any annual report to security holders; (2) Any proxy orinformation statement; and (3)Any prospectus filed pursuant to Rule 424(b) or(c) under the Securities Act of 1933. The listed documents should be clearlydescribed for identification purposes (e.g., annual report to security holdersfor fiscal year ended December 24, 1980).

 

  Notapplicable.

 

**EXPLANATORY NOTES**

 

The MSBAM2015-C26 mortgage pool includes the following mortgage loans, each of which isserviced pursuant to a separate pooling and servicing agreement (each, an“Outside Pooling and Servicing Agreement”):• the 535-545 Fifth Avenue mortgage loan and the Coastal Equities RetailPortfolio mortgage loan, which are serviced pursuant to the MSBAM 2015-C24pooling and servicing agreement attached hereto as Exhibit 4.2;• the Herald Center mortgage loan, which is serviced pursuant to the MSBAM2015-C25 pooling and servicing agreement attached hereto as Exhibit 4.3; and• the 11 Madison Avenue mortgage loan, which is serviced pursuant to the MAD2015-11MD trust and servicing agreement attached hereto as Exhibit 4.4.

 

Except asset forth below, each of the parties to each pooling and servicing agreementlisted in the Exhibit Index both (1) participates in the servicing function forpurposes of Item 1122 of Regulation AB and (2) constitutes a servicer thatmeets the criteria in Item 1108(a)(2)(i) through (iii) of Regulation AB forpurposes of Item 1123 of Regulation AB:

 

• Thetrustee under a pooling and servicing agreement has a nominal role with respectto the mortgage pool securitized pursuant to such pooling and servicingagreement. The trustee’s only servicing function is the contingent obligationto make certain advances if the master servicer under such pooling andservicing agreement fails to do so, while all other servicing functions areperformed by other parties. The trustee under each of the pooling and servicingagreements listed in the Exhibit Index has confirmed to the registrant that ithas not made any such contingent advances during the reporting period, andconsequently, each such trustee does not participate in the servicing functionfor purposes of Item 1122 of Regulation AB, nor does it perform the functionsof a servicer for purposes of the definition of “servicer” under Item 1101 ofRegulation AB or for purposes of Item 1123 of Regulation AB.

 

• Thecertificate administrator under a pooling and servicing agreement performsvarious payment administration functions solely for the securitization governedby such pooling and servicing agreement and the mortgage pool securitizedpursuant to such pooling and servicing agreement and does not have anyobligations with respect to any other transaction. Consequently, thecertificate administrator under an Outside Pooling and Servicing Agreement doesnot participate in the servicing function for purposes of Item 1122 ofRegulation AB, nor does it perform the functions of a servicer for purposes ofthe definition of “servicer” under Item 1101 of Regulation AB or for purposesof Item 1123 of Regulation AB.

 

• Theoperating advisor under a pooling and servicing agreement represents theinterests of senior certificateholders in the transaction governed by suchpooling and servicing agreement and is responsible for monitoring theperformance of the special servicer under such pooling and servicing agreementand producing certain reports to certificateholders relating to the resolutionof the mortgage pool securitized pursuant to such pooling and servicingagreement. The operating advisor under a pooling and servicing agreement doesnot have any obligations with respect to any other transaction and is solelyobligated to perform loan reporting functions with respect to thesecuritization governed by such pooling and servicing agreement. Consequently, the operating advisor under an Outside Pooling and Servicing Agreementneither participates in the servicing function for purposes of Item 1122 ofRegulation AB nor performs the functions of a servicer for purposes of thedefinition of “servicer” under Item 1101 of Regulation AB or for purposes ofItem 1123 of Regulation AB. In addition, while the operating advisor under apooling and servicing agreement has certain reporting obligations in respect ofthe related mortgage pool, it has no obligation to collect or disburse funds inrespect of the mortgage pool or to administer any of the underlying mortgageloans.  Consequently, the operating advisor under a pooling and servicingagreement participates in the servicing function for purposes of Item 1122 ofRegulation AB, but is not responsible for the “management or collection of thepool assets or making allocations or distributions to holders of theasset-backed securities” within the meaning of “servicer” under Item 1101 ofRegulation AB and does not perform the functions of a servicer for purposes ofItem 1123 of Regulation AB.

 

• InMarch 2016, LNR Securities Holdings, LLC, the designated representative of the535-545 Fifth Avenue controlling note holder, appointed LNR Partners, LLC toact as special servicer for the 535-545 Fifth Avenue mortgage loan under theMSBAM 2015-C24 pooling and servicing agreement.

 

•National Tax Search, LLC merged into CoreLogic Solutions, LLC in 2021. CoreLogic Solutions, LLC’s report on assessment of compliance with servicingcriteria and registered public accounting firm attestation report, in each caseprovided pursuant to Item 1122 of Regulation AB, also relate to National TaxSearch, LLC’s platform for the reporting period.

 

Inaddition, each of the following parties engaged the services of certainservicing function participants and sub-servicers for the reporting period, asset forth below:• Wells Fargo Bank, National Association, as master servicer and excludedspecial servicer, engaged the services of CoreLogic Solutions, LLC and NationalTax Search, LLC, in each case as a servicing function participant in respect ofthe entire mortgage pool for the reporting period.

 

• WellsFargo Bank, National Association, as master servicer under the MSBAM 2015-C24pooling and servicing agreement, pursuant to which the 535-545 Fifth Avenue mortgageloan and Coastal Equities Retail Portfolio mortgage loan are serviced, engagedthe services of CoreLogic Solutions, LLC and National Tax Search, LLC, in eachcase as a servicing function participant in respect of the 535-545 Fifth Avenuemortgage loan and Coastal Equities Retail Portfolio mortgage loan for thereporting period.

 

• Wells Fargo Bank, National Association, as master servicer underthe MSBAM 2015-C25 pooling and servicing agreement, pursuant to which the HeraldCenter mortgage loan is serviced, engaged the services of CoreLogic Solutions,LLC and National Tax Search, LLC, in each case as a servicing functionparticipant in respect of the Herald Center mortgage loan for the reportingperiod.

 

• On November 1, 2021, pursuant to the second amended and restatedservicing agreement attached hereto as Exhibit 99.9, Computershare TrustCompany, National Association was engaged to perform all or virtually all ofWells Fargo Bank, National Association’s roles as certificate administrator,custodian and trustee, as applicable, under (i) the pooling and servicingagreement and (ii) each Outside Pooling and Servicing Agreement.

 

| **PART I**   |                            |
|-------------------|---------------------------------|
|              |                            |
| **Item 1.**  | **Business.**                   |
|              | Omitted.                        |
| **Item 1A.** | **Risk Factors.**          |
|              | Omitted.                        |
| **Item 1B.** | **Unresolved Staff  Comments.** |
|              | None.                           |
| **Item 2.**  | **Properties.**                 |
|              | Omitted.                        |
| **Item 3.**  | **Legal Proceedings.**     |
|              | Omitted.                        |
| **Item 4.**  | **Mine Safety Disclosures.**    |
|              | Omitted.                        |
|              |                            |   |

 

| **PART II**  |                                                                                                                |
|-------------------|---------------------------------------------------------------------------------------------------------------------|
|              |                                                                                                                |
| **Item 5.**  | **Market for Registrant's  Common Equity, Related Stockholder Matters and Issuer Purchases of Equity  Securities.** |
|              | Omitted.                                                                                                            |
| **Item 6.**  | **Selected Financial Data.**                                                                                        |
|              | Omitted.                                                                                                            |
| **Item 7.**  | **Management's Discussion  and Analysis of Financial Condition and Results of Operations.**                         |
|              | Omitted.                                                                                                            |
| **Item 7A.** | **Quantitative and  Qualitative Disclosures About Market Risk.**                                                    |
|              | Omitted.                                                                                                            |
| **Item 8.**  | **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.**                                                                                        |
|              | Omitted.                                                                                                            |
| **Item 9B.** | **Other Information.**                                                                                         |
|              | None.                                                                                                               |
|              |                                                                                                                |   |

 

| **PART III** |                                                                                                 |
|-------------------|------------------------------------------------------------------------------------------------------|
|              |                                                                                                 |
| **Item 10.** | **Directors, Executive  Officers and Corporate Governance.**                                         |
|              | Omitted.                                                                                             |
| **Item 11.** | **Executive Compensation.**                                                                          |
|              | Omitted.                                                                                             |
| **Item 12.** | **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.                                                                                             |
|              |                                                                                                 |   |

 

**ADDITIONALDISCLOSURE ITEMS FOR REGULATION AB**

 

**Item1112(b) of Regulation AB, Significant Obligor Financial Information.**

 

Themortgaged property securing the 535-545 Fifth Avenueloan constitutes a significant obligor within the meaning of 1101(k)(2) ofRegulation AB. The most recent (unaudited) net operating income of thesignificant obligor for the 2021 calendar year is $23,423,519.27.

 

**Item1114(b)(2) of Regulation AB, Significant Enhancement Provider FinancialInformation.**

 

Noentity or group of affiliated entities provides any enhancement or othersupport for the certificates as described under Item 1114 (a) of Regulation AB.

 

**Item1115(b) of Regulation AB, Certain Derivatives Instruments (FinancialInformation).**

 

Noentity or group of affiliated entities provides any derivative instruments forthe certificates as described under Item 1115 of Regulation AB.

 

**Item1117 of Regulation AB, Legal Proceedings.**

 

Theregistrant knows of no legal proceeding pending against the sponsors,depositor, trustee, issuing entity, servicer contemplated by Item 1108(a)(3) ofRegulation AB, originator contemplated by Item 1110(b) of Regulation AB, orother party contemplated by Item 1100(d)(1) of Regulation AB, or of which anyproperty of the foregoing is the subject, that is material to security holders,other than as follows:

 

In December 2014, PhoenixLight SF Limited and certain related entities and the National Credit UnionAdministration (NCUA) filed complaints in the United States District Court forthe Southern District of New York against Wells Fargo Bank, alleging claimsagainst Wells Fargo Bank in its capacity as trustee for a number of residentialmortgage-backed securities trusts. Complaints raising similar allegations havebeen filed by Commerzbank AG in the Southern District of New York and by IKBInternational and IKB Deutsche Industriebank in New York state court. In eachcase, the plaintiffs allege that Wells Fargo Bank, 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. Wells FargoBank previously settled two class action lawsuits with similar allegations thatwere filed in November 2014 and December 2016 by institutional investors in theSouthern District of New York and New York state court, respectively. Inaddition, Park Royal I LLC and Park Royal II LLC have filed complaints in NewYork state court alleging Wells Fargo Bank, N.A., as trustee, failed to takeappropriate actions upon learning of defective mortgage loan documentation. InMarch 2021, the Company entered into an agreement to resolve the case filed bythe NCUA.

 

In addition to the foregoingcases, in August 2014 and August 2015 Nomura Credit & Capital Inc.(“Nomura”) and Natixis Real Estate Holdings, LLC (“Natixis”) filed a total ofseven third-party complaints against Wells Fargo Bank in New York state court. Inthe underlying first-party actions, Nomura and Natixis have been sued foralleged breaches of representations and warranties made in connection withresidential mortgage-backed securities sponsored by them. In the third-partyactions, Nomura and Natixis allege that Wells Fargo Bank, as master servicer,primary servicer or securities administrator, failed to notify Nomura andNatixis of their own breaches, failed to properly oversee the primaryservicers, and failed to adhere to accepted servicing practices. Natixisadditionally alleges that Wells Fargo Bank failed to perform default oversightduties. Wells Fargo Bank has asserted counterclaims alleging that Nomura andNatixis failed to provide Wells Fargo Bank notice of their representation andwarranty breaches.

 

With respect to each of theforegoing litigations, Wells Fargo Bank believes plaintiffs' claims are withoutmerit and intends to contest the claims vigorously, but there can be noassurances as to the outcome of the litigations or the possible impact of thelitigations on Wells Fargo Bank or the related RMBS trusts.

 

U.S.Bank National Association (“U.S. Bank”) and other large financial institutionshave been sued in their capacity as trustee or successor trustee for certainresidential mortgage backed securities ("RMBS") trusts.  Thecomplaints, primarily filed by investors or investor groups against U.S. Bankand similar institutions, allege the trustees caused losses to investors as aresult of alleged failures by the sponsors, mortgage loan sellers and servicersto comply with the governing agreements for these RMBS trusts.  Plaintiffsgenerally assert causes of action based upon the trustees’ purported failuresto enforce repurchase obligations of mortgage loan sellers for alleged breachesof representations and warranties, notify securityholders of purported eventsof default allegedly caused by breaches of servicing standards by mortgage loanservicers and abide by a heightened standard of care following alleged eventsof default.  

 

U.S.Bank denies liability and believes that it has performed its obligations underthe RMBS trusts in good faith, that its actions were not the cause of losses toinvestors, that it has meritorious defenses, and it has contested and intendsto continue contesting the plaintiffs’ claims vigorously.  However, U.S.Bank cannot assure you as to the outcome of any of the litigation, or thepossible impact of these litigations on the trustee or the RMBS trusts.  

 

OnMarch 9, 2018, a law firm purporting to represent fifteen Delaware statutorytrusts (the “DSTs”) that issued securities backed by student loans (the“Student Loans”) filed a lawsuit in the Delaware Court of Chancery against U.S.Bank National Association (“U.S. Bank”) in its capacities as indenture trusteeand successor special servicer, and three other institutions in theirrespective transaction capacities, with respect to the DSTs and the StudentLoans.  This lawsuit is captioned The National Collegiate Student LoanMaster 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 the operative complaint in itsentirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6)or, in the alternative, a stay of the case while other prior filed disputesinvolving the DSTs and the Student Loans are litigated.  On November 7,2018, the Court ruled that the case should be stayed in its entirety pendingresolution of the first-filed cases.  On January 21, 2020, the Courtentered an order consolidating for pretrial purposes the NCMSLT Action andthree other lawsuits pending in the Delaware Court of Chancery concerning theDSTs and the Student Loans, which remains pending.  

 

U.S.Bank denies liability in the NCMSLT Action and believes it has performed itsobligations as indenture trustee and special servicer in good faith and incompliance in all material respects with the terms of the agreements governingthe DSTs and that it has meritorious defenses.  It has contested andintends to continue contesting the plaintiffs’ claims vigorously.

 

**Item1119 of Regulation AB, Affiliations and Certain Relationships and RelatedTransactions.**

 

Theinformation regarding this Item has been provided previously in an annual reporton Form 10-K of the issuing entity or in the prospectus of the issuing entityfiled in a 424(b)(5) filing dated November 12, 2015. 

 

**Item1122 of Regulation AB, Compliance with Applicable Servicing Criteria.**

 

Thereports on assessment of compliance with the servicing criteria forasset-backed securities and the related attestation reports on such assessmentsof compliance are attached hereto under Item 15.

 

**Item1123 of Regulation AB, Servicer Compliance Statement.**

 

Theservicer compliance statements are attached hereto under Item 15.

 

**PART IV**

 

**Item15. Exhibits, Financial Statement Schedules.**

 

(a) Exhibits.

 

(4.1)Pooling and Servicing Agreement, dated as of November1, 2015, between Morgan Stanley Capital I Inc., as depositor, Wells Fargo Bank,National Association, as master servicer and initial excluded special servicer,LNR Partners, LLC, as general special servicer, Park Bridge Lender Services LLC,as trust advisor, Wilmington Trust, National Association, as trustee, and WellsFargo Bank, National Association, as custodian, certificate administrator,certificate registrar and authenticating agent (filed as Exhibit 4.1 to theregistrant's Current Report on Form 8-K/A filed on March 10, 2016 under SECFile No. 333-180779-19 and incorporated by reference herein).

 

(4.2)Pooling and Servicing Agreement, dated as of August 1,2015, between Morgan Stanley Capital I Inc., as depositor, Wells Fargo Bank,National Association, as master servicer, Midland Loan Services, a Division ofPNC Bank, National Association, as special servicer, Park Bridge LenderServices LLC, as trust advisor, Wilmington Trust, National Association, astrustee, and Wells Fargo Bank, National Association, as certificateadministrator, certificate registrar, authenticating agent and custodian,relating to the MSBAM 2015-C24 securitization transaction, pursuant to whichthe 535-545 Fifth Avenue Mortgage Loan and the Coastal Equities RetailPortfolio Mortgage Loan are serviced (filed as Exhibit 4.2 to the registrant'sCurrent Report on Form 8-K filed on November 13, 2015 under SEC File No.333-180779-19 and incorporated by reference herein).

 

(4.3)Pooling and Servicing Agreement, dated as of October 1,2015, between Banc of America Merrill Lynch Commercial Mortgage Inc., asdepositor, Wells Fargo Bank, National Association, as master servicer, MidlandLoan Services, a Division of PNC Bank, National Association, as specialservicer, Park Bridge Lender Services LLC, as trust advisor, Wilmington Trust,National Association, as trustee, and Wells Fargo Bank, National Association,as certificate administrator, certificate registrar, authenticating agent andcustodian, relating to the MSBAM 2015-C25 securitization transaction, pursuantto which the Herald Center Mortgage Loan is serviced (filed as Exhibit 4.3 tothe registrant's Current Report on Form 8-K filed on November 13, 2015 underSEC File No. 333-180779-19 and incorporated by reference herein).

 

(4.4)Trust and Servicing Agreement, dated as of September 6,2015, between Deutsche Mortgage & Asset Receiving Corporation, asdepositor, KeyBank National Association, as servicer and special servicer,Wilmington Trust, National Association, as trustee, and Wells Fargo Bank,National Association, as certificate administrator and custodian, relating tothe MAD 2015-11MD securitization transaction, pursuant to which the 11 MadisonAvenue Mortgage Loan is serviced (filed as Exhibit 4.4 to the registrant'sCurrent Report on Form 8-K filed on November 13, 2015 under SEC File No.333-180779-19 and incorporated by reference herein).

 

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

 

(33)  Reports on assessment ofcompliance with servicing criteria for asset-backed securities.

 

33.1  Wells Fargo Bank,National Association, as Certificate Administrator

 

33.2 Computershare Trust Company, NationalAssociation, as Servicing Function Participant for the CertificateAdministrator (from 11/1/21 to 12/31/21)

 

33.3  Wells Fargo Bank,National Association, as Custodian

 

33.4 Computershare Trust Company, NationalAssociation, as  Servicing Function Participant for the Custodian (from11/1/21 to 12/31/21) 

 

33.5  Wells Fargo Bank,National Association, as Master Servicer

 

33.6  LNR Partners, LLC,as Special Servicer

 

33.7  Park Bridge LenderServices LLC, as Operating Advisor

 

33.8  Wells Fargo Bank,National Association, as Excluded Special Servicer (see Exhibit 33.5)

 

33.9  CoreLogic Solutions,LLC, as Servicing Function Participant

 

33.10  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C24securitization, pursuant to which the following mortgage loans were serviced bysuch party: 535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal EquitiesRetail Portfolio (from 1/1/21 to 12/31/21) (see Exhibit 33.5)

 

33.11  CoreLogic Solutions,LLC, as Servicing Function Participant under the MSBAM 2015-C24 securitization,pursuant to which the following mortgage loans were serviced by such party:535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal Equities RetailPortfolio (from 1/1/21 to 12/31/21) (see Exhibit 33.9)

 

33.12  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C25 securitization,pursuant to which the following mortgage loans were serviced by such party:Herald Center (from 1/1/21 to 12/31/21) (see Exhibit 33.5)

 

33.13  CoreLogic Solutions,LLC, as Servicing Function Participant under the MSBAM 2015-C25 securitization,pursuant to which the following mortgage loans were serviced by such party:Herald Center (from 1/1/21 to 12/31/21) (see Exhibit 33.9)

 

33.14  KeyBank NationalAssociation, as Master Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21)

 

33.15  LNR Partners, LLC,as Special Servicer under the MSBAM 2015-C24 securitization, pursuant to whichthe following mortgage loans were serviced by such party: 535-545 Fifth Avenue(from 1/1/21 to 12/31/21) (see Exhibit 33.6)

 

33.16  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C25 securitization, pursuant to which the followingmortgage loans were serviced by such party: Herald Center (from 1/1/21 to12/31/21)

 

33.17  KeyBank NationalAssociation, as Special Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 33.14)

 

33.18  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C24 securitization, pursuant to which the followingmortgage loans were serviced by such party: Coastal Equities Retail Portfolio(from 1/1/21 to 12/31/21) (see Exhibit 33.16)

 

33.19  Wells Fargo Bank,National Association, as Custodian under the MSBAM 2015-C24 securitization,pursuant to which the following mortgage loans were serviced by such party:535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal Equities RetailPortfolio (from 1/1/21 to 12/31/21) (see Exhibit 33.3)

 

33.20  Computershare TrustCompany, National Association, as Servicing Function Participant under theMSBAM 2015-C24 securitization, pursuant to which the following mortgage loanswere serviced by such party: 535-545 Fifth Avenue (from 11/1/21 to 12/31/21)and Coastal Equities Retail Portfolio (from 11/1/21 to 12/31/21) (see Exhibit33.4)

 

33.21  U.S. Bank NationalAssociation, as Custodian under the MSBAM 2015-C25 securitization, pursuant towhich the following mortgage loans were serviced by such party: Herald Center(from 1/1/21 to 12/31/21)

 

33.22  Wells Fargo Bank,National Association, as Custodian under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 33.3)

 

33.23  Computershare TrustCompany, National Association, as Servicing Function Participant under the MAD2015-11MD securitization, pursuant to which the following mortgage loans wereserviced by such party: 11 Madison Avenue (from 11/1/21 to 12/31/21) (seeExhibit 33.4)

 

(34). Attestationreports on assessment of compliance with servicing criteria for asset-backedsecurities.

 

34.1  Wells Fargo Bank,National Association, as Certificate Administrator

 

34.2 Computershare Trust Company, NationalAssociation, as  Servicing Function Participant for the CertificateAdministrator (from 11/1/21 to 12/31/21) 

 

34.3  Wells Fargo Bank,National Association, as Custodian

 

34.4 Computershare Trust Company, NationalAssociation, as  Servicing Function Participant for the Custodian (from11/1/21 to 12/31/21) 

 

34.5  Wells Fargo Bank,National Association, as Master Servicer

 

34.6  LNR Partners, LLC,as Special Servicer

 

34.7  Park Bridge Lender ServicesLLC, as Operating Advisor

 

34.8  Wells Fargo Bank,National Association, as Excluded Special Servicer (see Exhibit 34.5)

 

34.9  CoreLogic Solutions,LLC, as Servicing Function Participant

 

34.10  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C24securitization, pursuant to which the following mortgage loans were serviced bysuch party: 535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal EquitiesRetail Portfolio (from 1/1/21 to 12/31/21) (see Exhibit 34.5)

 

34.11  CoreLogic Solutions,LLC, as Servicing Function Participant under the MSBAM 2015-C24 securitization,pursuant to which the following mortgage loans were serviced by such party:535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal Equities RetailPortfolio (from 1/1/21 to 12/31/21) (see Exhibit 34.9)

 

34.12  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C25securitization, pursuant to which the following mortgage loans were serviced bysuch party: Herald Center (from 1/1/21 to 12/31/21) (see Exhibit 34.5)

 

34.13  CoreLogic Solutions,LLC, as Servicing Function Participant under the MSBAM 2015-C25 securitization,pursuant to which the following mortgage loans were serviced by such party:Herald Center (from 1/1/21 to 12/31/21) (see Exhibit 34.9)

 

34.14  KeyBank NationalAssociation, as Master Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21)

 

34.15  LNR Partners, LLC,as Special Servicer under the MSBAM 2015-C24 securitization, pursuant to whichthe following mortgage loans were serviced by such party: 535-545 Fifth Avenue(from 1/1/21 to 12/31/21) (see Exhibit 34.6)

 

34.16  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C25 securitization, pursuant to which the followingmortgage loans were serviced by such party: Herald Center (from 1/1/21 to12/31/21)

 

34.17  KeyBank NationalAssociation, as Special Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 34.14)

 

34.18  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C24 securitization, pursuant to which the followingmortgage loans were serviced by such party: Coastal Equities Retail Portfolio(from 1/1/21 to 12/31/21) (see Exhibit 34.16)

 

34.19  Wells Fargo Bank,National Association, as Custodian under the MSBAM 2015-C24 securitization,pursuant to which the following mortgage loans were serviced by such party:535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal Equities RetailPortfolio (from 1/1/21 to 12/31/21) (see Exhibit 34.3)

 

34.20  Computershare TrustCompany, National Association, as Servicing Function Participant under theMSBAM 2015-C24 securitization, pursuant to which the following mortgage loanswere serviced by such party: 535-545 Fifth Avenue (from 11/1/21 to 12/31/21) andCoastal Equities Retail Portfolio (from 11/1/21 to 12/31/21) (see Exhibit 34.4)

 

34.21  U.S. Bank NationalAssociation, as Custodian under the MSBAM 2015-C25 securitization, pursuant towhich the following mortgage loans were serviced by such party: Herald Center(from 1/1/21 to 12/31/21)

 

34.22  Wells Fargo Bank,National Association, as Custodian under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 34.3)

 

34.23  Computershare TrustCompany, National Association, as Servicing Function Participant under the MAD2015-11MD securitization, pursuant to which the following mortgage loans wereserviced by such party: 11 Madison Avenue (from 11/1/21 to 12/31/21) (seeExhibit 34.4)

 

(35). Servicercompliance statement.

 

35.1  Wells Fargo Bank,National Association, as Certificate Administrator

 

35.2 Computershare Trust Company, NationalAssociation, as  Servicing Function Participant for the CertificateAdministrator (from 11/1/21 to 12/31/21) 

 

35.3  Wells Fargo Bank,National Association, as Custodian

 

35.4 Computershare Trust Company, NationalAssociation, as  Servicing Function Participant for the Custodian (from11/1/21 to 12/31/21) 

 

35.5  Wells Fargo Bank,National Association, as Master Servicer

 

35.6  LNR Partners, LLC,as Special Servicer

 

35.7  Wells Fargo Bank,National Association, as Excluded Special Servicer (see Exhibit 35.5)

 

35.8  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C24securitization, pursuant to which the following mortgage loans were serviced bysuch party: 535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal EquitiesRetail Portfolio (from 1/1/21 to 12/31/21) (see Exhibit 35.5)

 

35.9  Wells Fargo Bank,National Association, as Master Servicer under the MSBAM 2015-C25securitization, pursuant to which the following mortgage loans were serviced bysuch party: Herald Center (from 1/1/21 to 12/31/21) (see Exhibit 35.5)

 

35.10  KeyBank NationalAssociation, as Master Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21)

 

35.11  LNR Partners, LLC, asSpecial Servicer under the MSBAM 2015-C24 securitization, pursuant to which thefollowing mortgage loans were serviced by such party: 535-545 Fifth Avenue(from 1/1/21 to 12/31/21) (see Exhibit 35.6)

 

35.12  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C25 securitization, pursuant to which the followingmortgage loans were serviced by such party: Herald Center (from 1/1/21 to12/31/21)

 

35.13  Midland LoanServices, a Division of PNC Bank, National Association, as Special Servicerunder the MSBAM 2015-C24 securitization, pursuant to which the following mortgageloans were serviced by such party: Coastal Equities Retail Portfolio (from1/1/21 to 12/31/21) (see Exhibit 35.12)

 

35.14  KeyBank NationalAssociation, as Special Servicer under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 35.10)

 

35.15  Wells Fargo Bank,National Association, as Custodian under the MSBAM 2015-C24 securitization,pursuant to which the following mortgage loans were serviced by such party:535-545 Fifth Avenue (from 1/1/21 to 12/31/21) and Coastal Equities RetailPortfolio (from 1/1/21 to 12/31/21) (see Exhibit 35.3)

 

35.16  Computershare TrustCompany, National Association, as Servicing Function Participant under theMSBAM 2015-C24 securitization, pursuant to which the following mortgage loanswere serviced by such party: 535-545 Fifth Avenue (from 11/1/21 to 12/31/21)and Coastal Equities Retail Portfolio (from 11/1/21 to 12/31/21) (see Exhibit35.4)

 

35.17 U.S. Bank National Association, as Custodianunder the MSBAM 2015-C25 securitization, pursuant to which the followingmortgage loans were serviced by such party: Herald Center (from 1/1/21 to12/31/21)

 

35.18  Wells Fargo Bank,National Association, as Custodian under the MAD 2015-11MD securitization,pursuant to which the following mortgage loans were serviced by such party: 11Madison Avenue (from 1/1/21 to 12/31/21) (see Exhibit 35.3)

 

35.19  Computershare TrustCompany, National Association, as Servicing Function Participant under the MAD2015-11MD securitization, pursuant to which the following mortgage loans wereserviced by such party: 11 Madison Avenue (from 11/1/21 to 12/31/21) (seeExhibit 35.4)

 

(99.1)Mortgage Loan Purchase Agreement, dated October 28,2015, between Morgan Stanley Capital I Inc. and Morgan Stanley Mortgage CapitalHoldings LLC (filed as Exhibit 99.1 to the registrant's Current Report on Form8-K filed on November 13, 2015 under SEC File No. 333-180779-19 andincorporated by reference herein).

 

(99.2)Mortgage Loan Purchase Agreement, dated October 28,2015, between Morgan Stanley Capital I Inc. and Bank of America, NationalAssociation (filed as Exhibit 99.2 to the registrant's Current Report on Form8-K filed on November 13, 2015 under SEC File No. 333-180779-19 andincorporated by reference herein).

 

(99.3)Mortgage Loan Purchase Agreement, dated October 28,2015, between Morgan Stanley Capital I Inc. and CIBC Inc. (filed as Exhibit 99.3to the registrant's Current Report on Form 8-K filed on November 13, 2015 underSEC File No. 333-180779-19 and incorporated by reference herein).

 

(99.4)Mortgage Loan Purchase Agreement, dated October 28,2015, between Morgan Stanley Capital I Inc., Starwood Mortgage Funding III LLCand Starwood Mortgage Capital LLC (filed as Exhibit 99.4 to the registrant'sCurrent Report on Form 8-K filed on November 13, 2015 under SEC File No.333-180779-19 and incorporated by reference herein).

 

(99.5)Agreement Between Note Holders, dated July 24, 2015,between Morgan Stanley Bank, N.A., as Initial Note A-1 Holder, Morgan StanleyBank, N.A., as Initial Note A-2 Holder, and Morgan Stanley Bank, N.A., asInitial Note A-3 Holder, relating to the 535-545 Fifth Avenue loan combination(filed as Exhibit 99.5 to the registrant's Current Report on Form 8-K filed onNovember 13, 2015 under SEC File No. 333-180779-19 and incorporated byreference herein).

 

(99.6)Agreement Between Note Holders, dated July 24, 2015,between Morgan Stanley Bank, N.A., as Initial Note A-1 Holder, and MorganStanley Bank, N.A., as Initial Note A-2 Holder, relating to the CoastalEquities Retail Portfolio loan combination (filed as Exhibit 99.6 to the registrant'sCurrent Report on Form 8-K filed on November 13, 2015 under SEC File No.333-180779-19 and incorporated by reference herein).

 

(99.7)Agreement Between Note Holders, dated as of October 15,2015, between Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note A-1Holder, Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note A-2Holder, and Morgan Stanley Mortgage Capital Holdings LLC, as Initial Note A-3Holder, relating to the Herald Center loan combination (filed as Exhibit 99.7to the registrant's Current Report on Form 8-K/A filed on March 10, 2016 underSEC File No. 333-180779-19 and incorporated by reference herein).

 

(99.8)Co-Lender Agreement, dated September 6, 2015, betweenGerman American Capital Corporation, as Initial Note A-1 Holder, Morgan StanleyBank, N.A., as Initial Note A-2 Holder, Wells Fargo Bank, National Association,as Initial Note A-3 Holder, German American Capital Corporation, as InitialNote B-1 Holder, Morgan Stanley Bank, N.A., as Initial Note B-2 Holder, WellsFargo Bank, National Association, as Initial Note B-3 Holder, relating to the11 Madison Avenue loan combination (filed as Exhibit 99.8 to the registrant'sCurrent Report on Form 8-K filed on November 13, 2015 under SEC File No.333-180779-19 and incorporated by reference herein).

 

(99.9)SecondAmended and Restated Servicing Agreement, effective as of October 31, 2021,between Wells Fargo Bank, N.A., Wells Fargo Delaware Trust Company, N.A.,Computershare Trust Company, National Association, Computershare Delaware TrustCompany and Computershare Limited (filed as Exhibit 99.1 to the registrant'sCurrent Report on Form 8-K filed on November 5, 2021 under SEC File No.333-180779-19 and incorporated by reference herein).

 

(b)See (a) above.

 

(c)Not applicable.

** **

**SIGNATURES**

 

Pursuantto the requirements of Section 13 or 15(d) of the Securities Exchange Act of1934, the registrant has duly caused this report to be signed on its behalf bythe undersigned, thereunto duly authorized.

 

MorganStanley Capital I Inc.

(Depositor)

 

By:/s/ Jane Lam

JaneLam, President

(seniorofficer in charge of securitization of the depositor)

 

Date: March 28, 2022