Precedent signing and closing memorandum for a residential mortgage—backed securities transaction
Produced in partnership with Ranajoy Basu of McDermott Will & Emery

The following Banking & Finance precedent produced in partnership with Ranajoy Basu of McDermott Will & Emery provides comprehensive and up to date legal information covering:

  • Precedent signing and closing memorandum for a residential mortgage—backed securities transaction

Precedent signing and closing memorandum for a residential mortgage—backed securities transaction

A Signing and Closing Memorandum is required to assist the smooth execution of a complex transaction. This precedent signing and closing memorandum sets out steps to be taken in order to close a residential mortgage-backed securities (RMBS) transaction. Additional documents or steps may be required depending on the specific transaction.

[ISSUER]

[CURRENCY][AGGREGATE AMOUNT] CLASS [A] NOTES DUE [] AND [CURRENCY] [AGGREGATE AMOUNT] CLASS [B] NOTES DUE [] (THE NOTES)

SIGNING AND CLOSING MEMORANDUM

    1. 1

      Parties involved in the transaction

      THE PARTIES

      Issuer[]
      Holdings[]
      Originator[]
      Arranger[]
      Manager[]
      Trustee[]
      Security Trustee[]
      Paying Agent[]
      Mortgage Administrator[]
      Standby Mortgage Administrator[]
      Special Servicer[]
      Cash Manager[]
      Account Bank[]
      Swap Counterparty[]
      Liquidity Facility Provider[]
      Registrar[]
      Corporate Services Provider[]
      [Listing Agent][]
      Listing Authority[]
      Stock Exchange[]
      Rating Agenc[y][ies][]
      EuroclearEuroclear Bank SA
      ClearstreamClearstream Banking, societe anonyme
      Common Depositary[]
      Auditors[]
      Issuer's Counsel[]
      Arranger's Counsel[]
      Trustee’s Counsel[]

Part I

TIMETABLE, VENUE AND PROCEDURE

    1. 1

      Timetable

      The following events and dates form the anticipated timetable in respect of the issue of the Notes.

      EVENTDATE
      Pricing[]
      Issuer Board Meeting[]
      Offering Document Stamp-off[]
      Due diligence call[]
      Signing[]
      Closing[]
    1. 2

      Venue

      The signing and closing meetings will take place at [the offices of Issuer's Counsel].

    1. 3

      Procedure

      1. 3.1

        It is intended that the transaction documents listed in paragraph 11 of Part III of this memorandum will be in agreed form by [].

      1. 3.2

        The matters to be attended to in respect of the signing meeting and the closing meeting are set out in more detail in Parts II, III, IV, V and VI of this

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