Discovery Tips from Abby

Discovery Tips – A summary and reminder!!

In the discovery for each link in the securitization chain there must be: a note, a purchase and sale agreement; a transfer receipt; a delivery receipt; a bond if the notes are endorsed in blank; a receipt of funds for the purchase of the note; and a disbursement of funds for the acquisition of the note.

In the very simple RMBS model, there has to be transfers from the originator to the sponsor, from the sponsor to the depositor, from the depositor to the Trustee of the Trust, and from the Trustee to the Master Document Custodian for the Trust. The MDC would have all of the documents referred to above.

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