Key parties, documents and terms of a residential mortgage-backed securities transaction
Produced in partnership with Ed Bellamy, Victoria Morton and Charlie How of Paul Hastings LLP
Key parties, documents and terms of a residential mortgage-backed securities transaction

The following Banking & Finance guidance note Produced in partnership with Ed Bellamy, Victoria Morton and Charlie How of Paul Hastings LLP provides comprehensive and up to date legal information covering:

  • Key parties, documents and terms of a residential mortgage-backed securities transaction
  • An introduction to RMBS
  • The key parties in RMBS transactions
  • Principal documents and key terms

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on this Practice Note. For guidance, see Practice Note: Brexit—impact on finance transactions—Brexit planning and impact—financial services, Brexit—impact on finance transactions—Key issues for securitisation transactions and Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs.

An introduction to RMBS

This Practice Note provides a summary of the structure of residential mortgage-backed securities transactions and the key parties, documents and terms involved in such transactions. As with all financing techniques and transactions there are numerous variations as to how the precise terms of each such transaction operates which are beyond the scope