Haven't been able to determine if these Syncora's RMBS (which are Lehman related, tho may be separate) were involved in this global settlement (similar to JPM/Bear that Syncora got one specific ($400m) and soon to get ($60m+ via global rmbs))
Greenpoint Mortgage Funding Trust 2006-HE1 US$1,831 million home equity loan asset backed notes series 2006-HE1 2006-HE1 Ax RMBS HELOC 39539BAA1
Greenpoint Mortgage Funding Trust 2007-HE1 US$663 million mortgage backed notes, series 2007-HE1 2007-HE1 A-1 RMBS HELOC 39539JAA4
SACO I Trust 2006-1 US$303 million mortgage-backed notes series 2006-1 2006-1 A RMBS HELOC 785778QA2
Lehman XS Trust 2007-8H US$1,089 million mortgage pass-through certificates series 2007-8H 2007-8H A5 RMBS Alternative A 52524TAE4
Securitized Asset Backed Receivables LLC Trust 2005-HE1 US$ 1,195 million mortgage pass through certificates series 2005-HE1 2005-HE1 A-1B RMBS Sub-Prime 81375WGN0
idk ~ we shall see
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THE SETTLEMENT OFFER AND RELATED COURT APPROVAL PROCEDURES MATERIALLY AFFECT THE INTERESTS OF THE CERTIFICATEHOLDERS, AND THE RMBS TRUSTEES REQUEST THAT ALL CERTIFICATEHOLDERS AND OTHER NOTICE RECIPIENTS READ THIS NOTICE, THE PROPOSED SETTLEMENT AGREEMENT, AND RELATED MATERIALS CAREFULLY IN CONSULTATION WITH THEIR LEGAL AND FINANCIAL ADVISORS. THE SETTLEMENT OFFER AND THE PROPOSED SETTLEMENT AGREEMENT A group of fourteen (14) institutional investors (the “Institutional Investors”) have submitted to the RMBS Trustees a settlement offer (the “Settlement Offer”) from the LBHI Debtors in the form of an RMBS Trust Settlement Agreement (the “Proposed Settlement Agreement”), dated as of November 30, 2016, and modified as of March 17, 2017 (the “Modification Date”), concerning certain Claims of the Covered RMBS Trusts. The Institutional Investors request that the RMBS Trustees evaluate and accept the Proposed Settlement Agreement. On or about November 30, 2016, the RMBS Trustees were provided with the Proposed Settlement Agreement, which has since been modified, only after, and upon the condition that, they agreed to keep confidential and not disclose the existence or terms of the Proposed Settlement Agreement until after the Modification Date. The RMBS Trustees are issuing this Notice to all Certificateholders and other interested parties before deciding whether to accept or reject the Settlement Offer. A copy of the Proposed Settlement Agreement, together with a copy of the Institutional Investors’ letter to the RMBS Trustees concerning the Proposed Settlement Agreement, is available at the RMBS Trustees’ Website at the tab entitled “Certain Relevant Documents” (available at http://lbhirmbssettlement.com/Settlement_Agreement.pdf). A copy of the Institutional Investors’ letter to the RMBS Trustees concerning the Proposed Settlement Agreement is available at the RMBS Trustees’ Website at the tab entitled “Certain Relevant Documents” (available at http://lbhirmbssettlement.com/Institutional_Investors_Letter.pdf). Capitalized terms used but not defined herein will have the meanings assigned to them in the Proposed Settlement Agreement. This Notice attempts to summarize certain terms of the Proposed Settlement Agreement; please refer to the Proposed Settlement Agreement itself for the actual terms of the Settlement Offer. Under the terms of the Proposed Settlement Agreement, the LBHI Debtors would allow a Class 7 General Unsecured claim in the Chapter 11 Cases against LBHI (the “Allowed Claim”) in an amount to be determined by the Bankruptcy Court after an Estimation Proceeding in accordance with the procedures set forth in Exhibit G to the Proposed Settlement Agreement. In the Estimation Proceeding, under Section 502(c) of the Bankruptcy Code, the LBHI Debtors will seek Estimation of the Covered Loan Claims arising under or related to the Accepting Trusts, for purposes of setting the amount of the Allowed Claim, at a total amount of $2,416,000,000, without prejudice to the rights of the LBHI Debtors to argue in furtherance of such estimation that an amount lesser than $2,416,000,000 is correct, reasonable, or legally and factually supportable, as described further in the Proposed Settlement Agreement. The Accepting Trustees will be entitled to seek Estimation of the Covered Loan Claims in the Estimation Proceeding at an amount greater than $2,416,000,000. To the extent that the Bankruptcy Court decides that the Allowed Claim should be set at an amount (i) less than $2,000,000,000, such decision may be appealed by the RMBS Trustees; (ii) between $2,000,000,000 and 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 34 of 79 4 $2,416,000,000, the Allowed Claim will be set at $2,416,000,000; and (iii) greater than $2,416,000,000, the Allowed Claim will be set at such greater amount. 2 The Bankruptcy Court’s decision may be appealed by the Accepting Trustees only if the Estimation is for an amount less than $2,000,000,000. Under no circumstances may the LBHI Debtors appeal the Bankruptcy Court’s decision that sets the amount of the Allowed Claim. The Allowed Claim will include any interest thereon to the extent provided by Section 8.4 of the Plan and will be paid net of the Legal Fees (as determined in accordance with the attorneys’ fee provision set forth in Section 6.05 of the Proposed Settlement Agreement). The Net Allowed Claim will be allocated, and the Allocable Share of the Net Allocated Claim calculated, in accordance with a formula provided in Section 3.04 of the Proposed Settlement Agreement. Following the acceptance of the Proposed Settlement Agreement, the Parties, including the RMBS Trustees, will have no ability to adjust, amend, or revise the allocation formula as to any Covered RMBS Trust for which an RMBS Trustee accepts the Proposed Settlement Agreement. In exchange for the Allowed Claim, the LBHI Debtors would receive releases and waivers with respect to Covered Loan Claims (as defined in the Proposed Settlement Agreement). Please refer to the Proposed Settlement Agreement for further details concerning the Net Allowed Claim, the allocation of same, the proposed releases, and the other terms of the Settlement Offer. For the Proposed Settlement Agreement to bind the Covered RMBS Trusts or related Certificateholders, the RMBS Trustees must accept the Settlement Offer pursuant to a process that is set forth in the Proposed Settlement Agreement. The RMBS Trustees are permitted to accept or reject the Settlement Offer separately as to each Covered RMBS Trust. Under certain conditions, if a sufficient number of Covered RMBS Trusts reject the Settlement Offer, the LBHI Debtors may terminate the Proposed Settlement Agreement. In order to bind any Covered RMBS Trust or related Certificateholders, the RMBS Trustees must accept or reject the Proposed Settlement Agreement on a final basis, on or before June 1, 2017. Please refer to the Proposed Settlement Agreement for further details concerning the other dates relevant to the Settlement Offer. ANY CERTIFICATEHOLDERS WHO WISH TO HAVE THEIR VIEWS CONCERNING WHETHER THE RMBS TRUSTEES SHOULD ACCEPT OR REJECT THE PROPOSED SETTLEMENT AGREEMENT FOR THEIR RELATED COVERED RMBS TRUST(S) TO BE CONSIDERED BY THE RMBS TRUSTEES AND/OR THEIR EXPERTS ARE REQUESTED TO CONTACT THE RMBS TRUSTEES IMMEDIATELY AND CERTAINLY NO LATER THAN MAY 5, 2017. GIVEN THE IMPENDING DEADLINES, THE RMBS TRUSTEES LIKELY WILL NOT BE IN A POSITION TO MEANINGFULLY CONSIDER, IF AT ALL, VIEWS OF CERTIFICATEHOLDERS OR OTHER INFORMATION THAT THEY RECEIVE AFTER MAY 5, 2017. PLEASE 2 The $2 billion and $2.416 billion figures described in subparts (i), (ii) and (iii) of this paragraph would be reduced proportionately if one or more Covered Trusts is excluded from the Proposed Settlement Agreement. See Proposed Settlement Agreement, § 3.02. 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 35 of 79 5 COMMUNICATE WITH THE APPLICABLE RMBS TRUSTEE(S) USING THE CONTACT INFORMATION OF SUCH RMBS TRUSTEE AVAILABLE AT THE RMBS TRUSTEES’ WEBSITE AT THE TAB ENTITLED “RMBS TRUSTEES’ CONTACT INFORMATION” (AVAILABLE AT http://lbhirmbssettlement.com/trustee_contact.php). The RMBS Trustees’ fees and expenses relating to their evaluation of the Proposed Settlement Agreement, including expert fees and expenses, are being paid from assets of the Covered RMBS Trusts pursuant to the RMBS Trustees’ rights to payment of fees and expenses under Governing Agreements and related court orders. THE PROPOSED SETTLEMENT AGREEMENT REMAINS UNDER THE REVIEW OF THE RMBS TRUSTEES AND THEIR EXPERT. The RMBS Trustees have retained the Honorable Judith Fitzgerald (Ret.) as an expert to assist them with an independent evaluation of the Settlement Offer as set forth in the Proposed Settlement Agreement. Each RMBS Trustee also has engaged legal counsel to advise it with respect to relevant legal matters affecting the particular Covered RMBS Trusts that it administers. The RMBS Trustees are reviewing the Proposed Settlement Agreement with the assistance of Judge Fitzgerald and each RMBS Trustee’s legal counsel. It is anticipated that Judge Fitzgerald will provide a report to the RMBS Trustees concerning her evaluation of the Settlement Offer. As of the date of this Notice, none of the RMBS Trustees has made any final determination, on behalf of the Covered RMBS Trusts for which it serves as trustee, as to the reasonableness of, or the advisability of accepting, the Proposed Settlement Agreement. Although the RMBS Trustees are working together in their evaluation of the Proposed Settlement Agreement, each RMBS Trustee will assess the Proposed Settlement Agreement and make its own decision as to whether to accept or reject the Proposed Settlement Agreement on behalf of each Covered RMBS Trust for which it serves as trustee. Certificateholders are encouraged to check the RMBS Trustees’ Website regularly for updates that may impact particular Covered RMBS Trusts or groups of Covered RMBS Trusts. OTHER MATTERS This Notice summarizes certain terms of the Proposed Settlement Agreement (including the Trustee Findings) and is not a complete summary or statement of the material terms thereof, of relevant law or of relevant legal procedures. Certificateholders and other potentially interested persons are urged to review carefully the Proposed Settlement Agreement and to consider its implications, including without limitation the releases of the Covered Loan Claims and other actual or potential claims related to Covered Loans. The RMBS Trustees may send further notices with respect to the matters addressed herein and developments relating to the Settlement Offer, all of which will be made available at the RMBS Trustees’ Website at the tab entitled “Notices” (available at http://lbhirmbssettlement.com/notice.php). You may also obtain any documents filed with the Court on the docket for the Chapter 11 Cases by logging on to PACER at https://www.pacer.gov (password required) or by visiting LBHI’s claims agent website at http://www.lehman-docket.com (no password required). For inquiries, or to furnish any direction pursuant to the Governing Agreements with respect to the matters discussed herein, Certificateholders are directed to contact the applicable 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 36 of 79 6 RMBS Trustee using the contact information of such RMBS Trustee available at the RMBS Trustees’ Website at the tab entitled “RMBS Trustees’ Contact Information” (available at http://lbhirmbssettlement.com/trustee_contact.php). Certificateholders will be required to verify their holdings before receiving information from the applicable RMBS Trustee. Please be advised that with respect to any particular inquiry from individual Certificateholders, an RMBS Trustee may conclude that a specific response to such inquiry is not consistent with requirements under applicable law and regulation of equal and full dissemination of information to all Certificateholders. Certificateholders and other persons interested in the Covered RMBS Trusts should not rely on the RMBS Trustees, their counsel, experts or other advisors retained by the RMBS Trustees, as their sole source of information. Certificateholders and other potentially interested persons are urged to consult with their own legal and financial advisors. Please note that this Notice is not intended and should not be construed as investment, accounting, financial, legal, tax or other advice by or on behalf of the RMBS Trustees, or their directors, officers, affiliates, agents, attorneys or employees. Each person or entity receiving this Notice should seek the advice of its own advisors in respect of all matters set forth herein. Please be further advised that each of the RMBS Trustees reserves all of the rights, powers, claims and remedies available to it under the Governing Agreements and applicable law. No delay or forbearance by an RMBS Trustee to exercise any right or remedy accruing upon the occurrence of a default, or otherwise under the terms of the Governing Agreements, other documentation relating thereto or under applicable law, shall impair any such right or remedy or constitute a waiver thereof or an acquiescence therein. Receipt of this Notice should not be construed as evidence or acknowledgment of any requirement applicable to, or of any right or authority on the part of any recipient under the Governing Documents to direct, the matters addressed herein, or of any obligations on the part of any RMBS Trustee with respect thereto, and each RMBS Trustee expressly reserves all rights in determining appropriate actions and requirements concerning these matters. Each of the RMBS Trustees expressly reserves all rights in respect of each applicable Governing Agreement, including without limitation its right to recover in full its fees and costs (including, without limitation, fees and costs incurred or to be incurred by such RMBS Trustee in performing its duties, indemnities owing or to become owing to such RMBS Trustee, compensation for such RMBS Trustee’s time spent and reimbursement for fees and costs of counsel and other agents it employs in performing its duties or to pursue remedies) and its right, prior to exercising any rights or powers in connection with any applicable Governing Agreement at the request or direction of any Certificateholder, to receive security or indemnity satisfactory to it against all costs, expenses and liabilities that might be incurred in compliance therewith, and all rights that may be available to it under applicable law or otherwise. Deutsche Bank National Trust Company Law Debenture Trust Company of New York U.S. Bank National Association Wilmington Trust Company and Wilmington Trust, National Association 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 37 of 79 7 EXHIBIT A Covered RMBS Trusts 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 38 of 79 DB1/ 91137811.2 - 1 - EXHIBIT A TRUSTS No. Trust Name 1 ARC 2002-BC10 2 ARC 2002-BC8 3 ARC 2002-BC9 4 ARC 2004-1 5 BNC 2006-1 6 BNC 2006-2 7 BNC 2007-1 8 BNC 2007-2 9 BNC 2007-3 10 BNC 2007-4 11 LABS 2004-1 12 LABS 2007-1 13 LMT 2005-1 14 LMT 2005-2 15 LMT 2005-3 16 LMT 2006-1 17 LMT 2006-2 18 LMT 2006-4 19 LMT 2006-8 20 LMT 2006-9 21 LMT 2007-1 22 LMT 2007-10 23 LMT 2007-2 24 LMT 2007-3 25 LMT 2007-4 26 LMT 2007-5 27 LMT 2007-6 28 LMT 2007-7 29 LMT 2007-8 30 LMT 2007-9 31 LMT 2008-2 32 LMT 2008-6 33 LXS 2005-1 34 LXS 2005-10 35 LXS 2005-2 36 LXS 2005-3 37 LXS 2005-4 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 39 of 79 DB1/ 91137811.2 - 2 - 38 LXS 2005-6 39 LXS 2005-8 40 LXS 2006-1 41 LXS 2006-10N 42 LXS 2006-11 43 LXS 2006-12N 44 LXS 2006-13 45 LXS 2006-15 46 LXS 2006-17 47 LXS 2006-19 48 LXS 2006-20 49 LXS 2006-3 50 LXS 2006-5 51 LXS 2006-7 52 LXS 2006-8 53 LXS 2006-9 54 LXS 2007-1 55 LXS 2007-10H 56 LXS 2007-11 57 LXS 2007-12N 58 LXS 2007-14H 59 LXS 2007-15N 60 LXS 2007-16N 61 LXS 2007-17H 62 LXS 2007-18N 63 LXS 2007-20N 64 LXS 2007-3 65 LXS 2007-5H 66 LXS 2007-6 67 LXS 2007-7N 68 LXS 2007-8H 69 LXS 2007-9 70 RLT 2008-AH1 71 SAIL 2003-BC1 72 SAIL 2003-BC10 73 SAIL 2003-BC11 74 SAIL 2003-BC12 75 SAIL 2003-BC13 76 SAIL 2003-BC2 77 SAIL 2003-BC3 78 SAIL 2003-BC4 79 SAIL 2003-BC5 80 SAIL 2003-BC8 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 40 of 79 DB1/ 91137811.2 - 3 - 81 SAIL 2003-BC9 82 SAIL 2004-1 83 SAIL 2004-10 84 SAIL 2004-2 85 SAIL 2004-3 86 SAIL 2004-4 87 SAIL 2004-5 88 SAIL 2004-6 89 SAIL 2004-8 90 SAIL 2004-9 91 SAIL 2005-1 92 SAIL 2005-10 93 SAIL 2005-11 94 SAIL 2005-2 95 SAIL 2005-3 96 SAIL 2005-4 97 SAIL 2005-5 98 SAIL 2005-6 99 SAIL 2005-7 100 SAIL 2005-8 101 SAIL 2005-9 102 SAIL 2005-HE3 103 SAIL 2006-1 104 SAIL 2006-2 105 SAIL 2006-4 106 SAIL 2006-BNC3 107 SARM 2004-10 108 SARM 2004-16 109 SARM 2004-18 110 SARM 2004-20 111 SARM 2004-5 112 SARM 2004-9XS 113 SARM 2005-11 114 SARM 2005-12 115 SARM 2005-15 116 SARM 2005-17 117 SARM 2005-20 118 SARM 2005-22 119 SARM 2005-23 120 SARM 2005-3XS 121 SARM 2005-6XS 122 SARM 2005-8XS 123 SARM 2006-1 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 41 of 79 DB1/ 91137811.2 - 4 - 124 SARM 2006-10 125 SARM 2006-11 126 SARM 2006-12 127 SARM 2006-2 128 SARM 2006-3 129 SARM 2006-4 130 SARM 2006-5 131 SARM 2006-6 132 SARM 2006-7 133 SARM 2006-8 134 SARM 2006-9 135 SARM 2007-1 136 SARM 2007-10 137 SARM 2007-11 138 SARM 2007-2 139 SARM 2007-3 140 SARM 2007-4 141 SARM 2007-6 142 SARM 2007-8 143 SARM 2008-2 144 SASCO 2003-12XS 145 SASCO 2003-15A 146 SASCO 2003-17A 147 SASCO 2003-18XS 148 SASCO 2003-25XS 149 SASCO 2003-26A 150 SASCO 2003-28XS 151 SASCO 2003-29 152 SASCO 2003-30 153 SASCO 2003-34A 154 SASCO 2003-35 155 SASCO 2003-36XS 156 SASCO 2003-38 157 SASCO 2003-39EX 158 SASCO 2003-3XS 159 SASCO 2003-6A 160 SASCO 2003-GEL1 161 SASCO 2003-NP1 162 SASCO 2003-S1 163 SASCO 2003-S2 164 SASCO 2004-10 165 SASCO 2004-11XS 166 SASCO 2004-13 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 42 of 79 DB1/ 91137811.2 - 5 - 167 SASCO 2004-15 168 SASCO 2004-16XS 169 SASCO 2004-17XS 170 SASCO 2004-18H 171 SASCO 2004-19XS 172 SASCO 2004-20 173 SASCO 2004-21XS 174 SASCO 2004-22 175 SASCO 2004-23XS 176 SASCO 2004-2AC 177 SASCO 2004-4XS 178 SASCO 2004-6XS 179 SASCO 2004-7 180 SASCO 2004-9XS 181 SASCO 2004-GEL1 182 SASCO 2004-GEL2 183 SASCO 2004-GEL3 184 SASCO 2004-NP1 185 SASCO 2004-S2 186 SASCO 2004-S3 187 SASCO 2004-S4 188 SASCO 2005-1 189 SASCO 2005-10 190 SASCO 2005-11H 191 SASCO 2005-14 192 SASCO 2005-15 193 SASCO 2005-17 194 SASCO 2005-2XS 195 SASCO 2005-3 196 SASCO 2005-4XS 197 SASCO 2005-5 198 SASCO 2005-7XS 199 SASCO 2005-9XS 200 SASCO 2005-GEL2 201 SASCO 2005-GEL3 202 SASCO 2005-GEL4 203 SASCO 2005-RF1 204 SASCO 2005-RF2 205 SASCO 2005-RF4 206 SASCO 2005-RF5 207 SASCO 2005-RF6 208 SASCO 2005-RF7 209 SASCO 2005-S1 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 43 of 79 DB1/ 91137811.2 - 6 - 210 SASCO 2005-S2 211 SASCO 2005-S3 212 SASCO 2005-S4 213 SASCO 2005-S5 214 SASCO 2005-S6 215 SASCO 2005-S7 216 SASCO 2005-SC1 217 SASCO 2006-BC2 218 SASCO 2006-BC3 219 SASCO 2006-BC4 220 SASCO 2006-BC6 221 SASCO 2006-GEL1 222 SASCO 2006-GEL2 223 SASCO 2006-GEL3 224 SASCO 2006-GEL4 225 SASCO 2006-RF1 226 SASCO 2006-RF2 227 SASCO 2006-RF3 228 SASCO 2006-RF4 229 SASCO 2006-S1 230 SASCO 2006-S2 231 SASCO 2006-S3 232 SASCO 2006-S4 233 SASCO 2006-Z 234 SASCO 2007-BC1 235 SASCO 2007-BC2 236 SASCO 2007-BC3 237 SASCO 2007-BC4 238 SASCO 2007-BNC1 239 SASCO 2007-GEL1 240 SASCO 2007-GEL2 241 SASCO 2007-MLN1 242 SASCO 2007-OSI 243 SASCO 2007-RF1 244 SASCO 2007-TC1 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 44 of 79 EXHIBIT F 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 45 of 79 DB1/ 91581512 Dated: April 21, 2017 NOTICE PROVIDING FURTHER INFORMATION ABOUT THE PROPOSED RMBS TRUST SETTLEMENT AGREEMENT, DATED AS OF NOVEMBER 30, 2016, AND MODIFIED AS OF MARCH 17, 2017 (THE “PROPOSED SETTLEMENT AGREEMENT”), FROM LEHMAN BROTHERS HOLDINGS, INC. AND ALL AFFILIATED DEBTORS (THE “LBHI DEBTORS”). THE PROPOSED SETTLEMENT AGREEMENT MATERIALLY AFFECTS THE INTERESTS OF HOLDERS OF CERTIFICATES, NOTES OR OTHER SECURITIES (THE “CERTIFICATEHOLDERS”) ISSUED BY THE RESIDENTIAL MORTGAGEBACKED SECURITIZATION TRUSTS LISTED IN EXHIBIT A HERETO AND FURTHER IDENTIFIED BY CUSIP NUMBERS ON THE WEBSITE LOCATED AT http://www.LBHIrmbssettlement.com (THE “RMBS TRUSTEES’ WEBSITE”) AT THE TAB ENTITLED “LIST OF COVERED RMBS TRUSTS” (COLLECTIVELY, THE “COVERED RMBS TRUSTS” AND EACH A “COVERED RMBS TRUST”). 1 CERTIFICATEHOLDERS AND OTHER NOTICE RECIPIENTS SHOULD READ CAREFULLY THIS NOTICE AND THE MATERIALS REFERENCED HEREIN IN CONSULTATION WITH THEIR LEGAL AND FINANCIAL ADVISORS. NOTICE IS HEREBY GIVEN BY: Deutsche Bank National Trust Company TMI Trust Company, successor to Law Debenture Trust Company of New York U.S. Bank National Association Wilmington Trust Company and Wilmington Trust, National Association EACH, IN ITS CAPACITY AS TRUSTEE, SEPARATE TRUSTEE, SUCCESSOR TRUSTEE, OR OTHER SIMILAR CAPACITIES OF THE COVERED RMBS TRUSTS (COLLECTIVELY, THE “RMBS TRUSTEES” AND EACH AN “RMBS TRUSTEE”), TO THE CERTIFICATEHOLDERS. THIS NOTICE CONTAINS IMPORTANT INFORMATION FOR CERTIFICATEHOLDERS AND OTHER PERSONS POTENTIALLY INTERESTED IN THE COVERED RMBS TRUSTS. ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE, AS APPLICABLE, ARE REQUESTED TO EXPEDITE THE RE-TRANSMITTAL TO CERTIFICATEHOLDERS IN A TIMELY MANNER. This notice (the “Notice”) is given to you by the RMBS Trustees under certain applicable Trust Agreements or other similar agreements governing the Covered RMBS Trusts 1 Any CUSIP numbers appearing in this Notice, Exhibit A hereto or on the RMBS Trustees’ Website have been included solely for the convenience of the Certificateholders. The RMBS Trustees assume no responsibility for the selection or use of such numbers and make no representations as to the correctness of the CUSIP numbers appearing herein or therein. 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 46 of 79 2 (the “Governing Agreements”). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Proposed Settlement Agreement. THE RMBS TRUSTEES’ MARCH 20, 2017 NOTICE TO HOLDERS AND THE PROPOSED SETTLEMENT AGREEMENT In a prior notice to Certificateholders dated March 20, 2017 (the “March 20, 2017 Notice to Holders”), the RMBS Trustees informed Certificateholders that, on March 17, 2017, a group of fourteen (14) institutional investors represented by Gibbs and Bruns LLP (the “Institutional Investors”) submitted to the RMBS Trustees a settlement offer from the LBHI Debtors (the “Settlement Offer”) concerning the Covered Loan Claims and in the form of the Proposed Settlement Agreement. The RMBS Trustees’ March 20, 2017 Notice to Holders referenced certain terms of the Proposed Settlement Agreement; please refer to the Proposed Settlement Agreement itself for the full and complete terms. A copy of the Proposed Settlement Agreement, together with a copy of the Institutional Investors’ letter to the RMBS Trustees concerning the Proposed Settlement Agreement, is available at the RMBS Trustees’ Website at the tab entitled “Certain Relevant Documents” (available at http://lbhirmbssettlement.com/Settlement_Agreement.pdf). A copy of the March 20, 2017 Notice to Holders also is posted on the RMBS Trustees’ Website at the tab entitled “Notices” (available at http://lbhirmbssettlement.com/notice.pdf). Since the publication of the March 20, 2017 Notice to Holders, the RMBS Trustees have received questions relating to the Proposed Settlement Agreement. The RMBS Trustees are sending this notice to provide additional information, including information that is intended to respond to those questions. CIRCUMSTANCES LEADING UP TO THE PROPOSED SETTLEMENT AGREEMENT On October 26, 2015, the Institutional Investors2 and the LBHI Debtors informed the RMBS Trustees that they had reached an agreement (the “October 2015 Settlement Agreement”) that they wanted to deliver to the RMBS Trustees for their consideration that, if accepted by the RMBS Trustees, would settle the claims asserted in the RMBS Trustees’ proofs of claim against the LBHI Debtors. The Institutional Investors and the LBHI Debtors agreed to share the October 2015 Settlement Agreement with the RMBS Trustees only if the RMBS Trustees agreed to keep the agreement confidential. The RMBS Trustees agreed to keep it confidential and received a copy of the October 2015 Settlement Agreement. Some of the material terms of the October 2015 Settlement Agreement, which the Institutional Investors and the LBHI Debtors had executed, included: ? the LBHI Debtors agreed to allow an unsecured Class 7 claim to settle the claims in the RMBS Trustees’ proofs of claim for $2.44 billion in exchange for releases; 2 The Institutional Investors at that time comprised a group of fifteen (15) institutional investors who were represented then, as now, by Gibbs and Bruns LLP. 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 47 of 79 3 ? the RMBS Trustees were not permitted to disclose the offer unless and until they accepted it; ? the $2.44 billion would be allocated based on each trust’s estimated lifetime losses, except that estimated lifetime losses associated with Transferor Loans would be reduced by 99%; and ? the LBHI Debtors had the right to terminate the October 2015 Settlement Agreement if the RMBS Trustees opted out of the settlement as to a certain threshold of trusts.3 The RMBS Trustees worked with experienced counsel to consider the settlement offer and retained experts to advise the RMBS Trustees and their other experts: (i) the Honorable Anthony J. Carpinello (Ret.), a former Associate Justice of the New York State Supreme Court, Appellate Division, Third Department, to advise the RMBS Trustees and other experts as to issues relating to New York law; (ii) the Honorable Arthur Gonzalez (Ret.), the former Chief Judge for the United States Bankruptcy Court for the Southern District of New York, to advise the RMBS Trustees and other experts as to issues relating to bankruptcy law and process and the Federal Rules of Evidence; and (iii) Ronald Greenspan of FTI Consulting to serve as the “toplevel” expert to advise the RMBS Trustees whether they should accept the settlement as to each applicable trust. Between November 2015 and early February 2016, the RMBS Trustees worked with those experts to evaluate the October 2015 Settlement Agreement. In February 2016, the RMBS Trustees conveyed to the LBHI Debtors, based on preliminary work performed by experts, the number of trusts for which the RMBS Trustees might be advised to accept the settlement. Subsequently, the LBHI Debtors formally withdrew the October 2015 Settlement Agreement. Beginning in the spring of 2016, the LBHI Debtors and the Institutional Investors participated in mediation. At the request of the mediator, the RMBS Trustees provided certain information to the mediator, on a confidential basis, to enable him to facilitate a revised settlement offer. On November 30, 2016, the LBHI Debtors sent to the RMBS Trustees on a confidential basis a settlement agreement that the Institutional Investors and the LBHI Debtors had executed (the “November 2016 Settlement Agreement”) for consideration by the RMBS Trustees. The November 2016 Settlement Agreement, if accepted by the RMBS Trustees, would settle the claims asserted in the RMBS Trustees’ proofs of claim against the LBHI Debtors. The November 2016 Settlement Agreement included the following terms: ? the LBHI Debtors would file a motion with the Bankruptcy Court to estimate the RMBS Trustees’ claims at $2.44 billion, if the RMBS Trustees would agree that their claims could be estimated by the Bankruptcy Court; 3 Pursuant to the terms of the October 2015 Settlement Agreement, the RMBS Trustees had the right to learn the opt-out threshold. Because the RMBS Trustees undertook to make the determinations whether to accept or reject the October 2015 Settlement Agreement on a trust-by-trust basis, they did not exercise their right to learn the opt-out threshold, as that threshold was not relevant to their trust-by-trust determinations. 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 48 of 79 4 ? although the LBHI Debtors would argue that the estimation should be $2.44 billion, the RMBS Trustees would be permitted to argue that the Estimation should be whatever amount they believed was warranted; ? the LBHI Debtors and the RMBS Trustees would agree that the Bankruptcy Court’s Estimation of the RMBS Trustees’ claims would become the value of the Allowed Claim, and neither party could appeal the decision; and ? an expert selected by the RMBS Trustees would determine the allocation of the Allowed Claim among the accepting trusts. The RMBS Trustees were not authorized to disclose the November 2016 Settlement Agreement to third parties without the LBHI Debtors’ prior written consent. As contemplated in the November 2016 Settlement Agreement, the RMBS Trustees requested that Duff & Phelps LLP (“Duff & Phelps”), the financial advisory firm retained by the RMBS Trustees in the Bankruptcy Proceeding to assist the RMBS Trustees with the Protocol, prepare a reasonable allocation methodology and schedule. Based on its industry experience, familiarity with the loans at issue and the claims submitted in connection with the Protocol, Duff & Phelps provided the RMBS Trustees with an allocation methodology and schedule, which the RMBS Trustees sent to the Institutional Investors and the LBHI Debtors. Neither the Institutional Investors nor the LBHI Debtors provided any substantive comments or changes to the Duff & Phelps allocation methodology and schedule. On March 17, 2017, the Institutional Investors submitted to the RMBS Trustees the Proposed Settlement Agreement, which reflected the Duff & Phelps allocation methodology and schedule in Section 3.04 and Exhibit H with no substantive changes. Following a February 22, 2017 decision of the United States District Court for the Southern District of New York affirming a decision of the U.S. Bankruptcy Court for the Southern District of New York expunging the RMBS Trustees’ claims relating to Transferor Loans, the Proposed Settlement Agreement deleted from the November 2016 Settlement Agreement the resolution of the RMBS Trustees’ claims involving Transferor Loans (and contemplated releases relating thereto) and, accordingly, reduced the amount that the LBHI Debtors would seek to estimate the Allowed Claim by $24 million, from $2.44 billion to $2.416 billion. On March 24, 2017, the RMBS Trustees filed a notice of appeal of the District Court’s decision to the Second Circuit. The Institutional Investors and the LBHI Debtors, not the RMBS Trustees, negotiated the initial $2.44 billion amount and subsequently the $2.416 billion amount. At the Estimation Proceeding, the RMBS Trustees intend to argue that the Allowed Claim for Covered Loan Claims should be set in an amount greater than $2.416 billion. In addition, the Proposed Settlement Agreement contained the following modifications to the November 2016 Settlement Agreement that the RMBS Trustees had requested: ? the RMBS Trustees were permitted to disclose the Proposed Settlement Agreement to Certificateholders promptly after receipt and were given additional time to solicit Certificateholder feedback for their experts and themselves to consider before the Acceptance Date; 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 49 of 79 5 ? although the LBHI Debtors are waiving their appellate rights under all circumstances, the RMBS Trustees may appeal if the Bankruptcy Court estimates the Covered Loan Claims at less than $2 billion; ? if the Bankruptcy Court estimates the Covered Loan Claims between $2 billion and $2.416 billion, the Allowed Claim would be set at $2.416 billion; ? the RMBS Trustees bargained for detailed procedures for the Estimation Proceeding that are memorialized in Exhibit G to the Proposed Settlement Agreement and are required to be approved by the Bankruptcy Court, including (i) that the Hearing (as defined in Exhibit G) shall be scheduled for at least 14 hearing days, or a total of 98 hours, on the record and (ii) the LBHI Debtors will be allotted 7 days (or a total of 49 hours) to present their case, including rebuttals, and 7 days (or a total of 49 hours) will be allotted to the RMBS Trustees; and ? the RMBS Trustees are not required to accept or reject the Proposed Settlement Agreement as to all Covered RMBS Trusts; rather, any RMBS Trustee (i) may accept the Proposed Settlement Agreement as to certain Covered RMBS Trusts and (ii) has the right, but not the obligation, to terminate the Proposed Settlement Agreement as to one or more of its Accepting Trusts in the event the applicable Accepting Trustee has been directed, before the 9019 Objection Deadline, to terminate the Proposed Settlement Agreement as to such Accepting Trust or Accepting Trusts in a manner acceptable to the Accepting Trustee, but only for the Accepting Trust or Accepting Trusts for which such a direction has been provided. As stated in the RMBS Trustees’ March 20, 2017 Notice to Holders, if the RMBS Trustees’ rejection of the Settlement Offer as to Covered RMBS Trusts exceeds a threshold agreed upon by the Institutional Investors and the LBHI Debtors (but not disclosed in the Proposed Settlement Agreement), then the LBHI Debtors may terminate the Proposed Settlement Agreement. The RMBS Trustees do not know what threshold of opt-outs by Covered RMBS Trusts would give the LBHI Debtors the right to terminate the Proposed Settlement Agreement. As with the October 2015 Settlement Agreement, because the RMBS Trustees have undertaken to make the determinations whether to accept the Proposed Settlement Agreement on a trust-bytrust basis, they have not exercised their right to learn the opt-out threshold because it is not relevant to their trust-by-trust determinations. Also as stated in the March 20, 2017 Notice to Holders, counsel for the RMBS Trustees retained the Honorable Judith Fitzgerald (Ret.), the former Chief Judge of the United States Bankruptcy Court for the Western District of Pennsylvania, to advise the RMBS Trustees on the reasonableness of the Proposed Settlement Agreement for each Covered RMBS Trust as a means for resolving the claims asserted by the RMBS Trustees against the LBHI Debtors. ANY CERTIFICATEHOLDERS WHO WISH TO HAVE THEIR VIEWS CONCERNING WHETHER THE RMBS TRUSTEES SHOULD ACCEPT OR REJECT THE PROPOSED SETTLEMENT AGREEMENT FOR THEIR RELATED COVERED RMBS TRUST(S) TO BE CONSIDERED BY THE RMBS TRUSTEES AND/OR THEIR EXPERTS ARE REQUESTED TO CONTACT THE RMBS TRUSTEES IMMEDIATELY AND CERTAINLY NO LATER THAN MAY 5, 2017. GIVEN THE IMPENDING DEADLINES, 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 50 of 79 6 THE RMBS TRUSTEES LIKELY WILL NOT BE IN A POSITION TO MEANINGFULLY CONSIDER, IF AT ALL, VIEWS OF CERTIFICATEHOLDERS OR OTHER INFORMATION THAT THEY RECEIVE AFTER MAY 5, 2017. PLEASE COMMUNICATE WITH THE APPLICABLE RMBS TRUSTEE(S) USING THE CONTACT INFORMATION OF SUCH RMBS TRUSTEE AVAILABLE AT THE RMBS TRUSTEES’ WEBSITE AT THE TAB ENTITLED “RMBS TRUSTEES’ CONTACT INFORMATION” (AVAILABLE AT http://lbhirmbssettlement.com/trustee_contact.php). As of the date of this Notice, none of the RMBS Trustees has made any final determination, on behalf of the Covered RMBS Trusts for which it serves as trustee, as to the reasonableness of, or the advisability of accepting, the Proposed Settlement Agreement. Although the RMBS Trustees are working together in their evaluation of the Proposed Settlement Agreement, each RMBS Trustee will assess the Proposed Settlement Agreement and make its own decision as to whether to accept or reject the Proposed Settlement Agreement on behalf of each Covered RMBS Trust for which it serves as trustee. Certificateholders are encouraged to check the RMBS Trustees’ Website regularly for updates that may impact particular Covered RMBS Trusts or groups of Covered RMBS Trusts. OTHER MATTERS This Notice references certain terms of the Proposed Settlement Agreement, the October 2015 Settlement Agreement and the November 2016 Settlement Agreement, respectively, and is not a complete summary or statement of the material terms thereof, of relevant law, or of relevant legal procedures. Certificateholders and other potentially interested persons are urged to review carefully the Proposed Settlement Agreement and to consider its implications, including without limitation the releases of the Covered Loan Claims and other actual or potential claims related to Covered Loans. The RMBS Trustees may send further notices with respect to the matters addressed herein and developments relating to the Settlement Offer, all of which will be made available at the RMBS Trustees’ Website at the tab entitled “Notices” (available at http://lbhirmbssettlement.com/notice.php). You may also obtain any documents filed with the Court on the docket for the Chapter 11 Cases by logging on to PACER at https://www.pacer.gov (password required) or by visiting LBHI’s claims agent website at http://www.lehmandocket. com (no password required). For inquiries, or to furnish any direction pursuant to the Governing Agreements with respect to the matters discussed herein, Certificateholders are directed to contact the applicable RMBS Trustee using the contact information of such RMBS Trustee available at the RMBS Trustees’ Website at the tab entitled “RMBS Trustees’ Contact Information” (available at http://lbhirmbssettlement.com/trustee_contact.php). Certificateholders will be required to verify their holdings before receiving information from the applicable RMBS Trustee. Please be advised that with respect to any particular inquiry from individual Certificateholders, an RMBS Trustee may conclude that a specific response to such inquiry is not consistent with requirements under applicable law and regulation of equal and full dissemination of information to all Certificateholders. Certificateholders and other persons interested in the Covered RMBS Trusts should not rely on the RMBS Trustees, their counsel, experts or other advisors retained by the RMBS 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 51 of 79 7 Trustees, as their sole source of information. Certificateholders and other potentially interested persons are urged to consult with their own legal and financial advisors. Please note that this Notice is not intended and should not be construed as investment, accounting, financial, legal, tax or other advice by or on behalf of the RMBS Trustees, or their directors, officers, affiliates, agents, attorneys or employees. Each person or entity receiving this Notice should seek the advice of its own advisors in respect of all matters set forth herein. Please be further advised that each of the RMBS Trustees reserves all of the rights, powers, claims and remedies available to it under the Governing Agreements and applicable law. No delay or forbearance by an RMBS Trustee to exercise any right or remedy accruing upon the occurrence of a default, or otherwise under the terms of the Governing Agreements, other documentation relating thereto or under applicable law, shall impair any such right or remedy or constitute a waiver thereof or an acquiescence therein. Receipt of this Notice should not be construed as evidence or acknowledgment of any requirement applicable to, or of any right or authority on the part of any recipient under the Governing Documents to direct, the matters addressed herein, or of any obligations on the part of any RMBS Trustee with respect thereto, and each RMBS Trustee expressly reserves all rights in determining appropriate actions and requirements concerning these matters. Each of the RMBS Trustees expressly reserves all rights in respect of each applicable Governing Agreement, including without limitation its right to recover in full its fees and costs (including, without limitation, fees and costs incurred or to be incurred by such RMBS Trustee in performing its duties, indemnities owing or to become owing to such RMBS Trustee, compensation for such RMBS Trustee’s time spent and reimbursement for fees and costs of counsel and other agents it employs in performing its duties or to pursue remedies) and its right, prior to exercising any rights or powers in connection with any applicable Governing Agreement at the request or direction of any Certificateholder, to receive security or indemnity satisfactory to it against all costs, expenses and liabilities that might be incurred in compliance therewith, and all rights that may be available to it under applicable law or otherwise. Deutsche Bank National Trust Company TMI Trust Company, successor to Law Debenture Trust Company of New York U.S. Bank National Association Wilmington Trust Company and Wilmington Trust, National Association 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 52 of 79 8 EXHIBIT A Covered RMBS Trusts 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 53 of 79 DB1/ 91137811.2 - 1 - EXHIBIT A TRUSTS No. Trust Name 1 ARC 2002-BC10 2 ARC 2002-BC8 3 ARC 2002-BC9 4 ARC 2004-1 5 BNC 2006-1 6 BNC 2006-2 7 BNC 2007-1 8 BNC 2007-2 9 BNC 2007-3 10 BNC 2007-4 11 LABS 2004-1 12 LABS 2007-1 13 LMT 2005-1 14 LMT 2005-2 15 LMT 2005-3 16 LMT 2006-1 17 LMT 2006-2 18 LMT 2006-4 19 LMT 2006-8 20 LMT 2006-9 21 LMT 2007-1 22 LMT 2007-10 23 LMT 2007-2 24 LMT 2007-3 25 LMT 2007-4 26 LMT 2007-5 27 LMT 2007-6 28 LMT 2007-7 29 LMT 2007-8 30 LMT 2007-9 31 LMT 2008-2 32 LMT 2008-6 33 LXS 2005-1 34 LXS 2005-10 35 LXS 2005-2 36 LXS 2005-3 37 LXS 2005-4 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 54 of 79 DB1/ 91137811.2 - 2 - 38 LXS 2005-6 39 LXS 2005-8 40 LXS 2006-1 41 LXS 2006-10N 42 LXS 2006-11 43 LXS 2006-12N 44 LXS 2006-13 45 LXS 2006-15 46 LXS 2006-17 47 LXS 2006-19 48 LXS 2006-20 49 LXS 2006-3 50 LXS 2006-5 51 LXS 2006-7 52 LXS 2006-8 53 LXS 2006-9 54 LXS 2007-1 55 LXS 2007-10H 56 LXS 2007-11 57 LXS 2007-12N 58 LXS 2007-14H 59 LXS 2007-15N 60 LXS 2007-16N 61 LXS 2007-17H 62 LXS 2007-18N 63 LXS 2007-20N 64 LXS 2007-3 65 LXS 2007-5H 66 LXS 2007-6 67 LXS 2007-7N 68 LXS 2007-8H 69 LXS 2007-9 70 RLT 2008-AH1 71 SAIL 2003-BC1 72 SAIL 2003-BC10 73 SAIL 2003-BC11 74 SAIL 2003-BC12 75 SAIL 2003-BC13 76 SAIL 2003-BC2 77 SAIL 2003-BC3 78 SAIL 2003-BC4 79 SAIL 2003-BC5 80 SAIL 2003-BC8 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 55 of 79 DB1/ 91137811.2 - 3 - 81 SAIL 2003-BC9 82 SAIL 2004-1 83 SAIL 2004-10 84 SAIL 2004-2 85 SAIL 2004-3 86 SAIL 2004-4 87 SAIL 2004-5 88 SAIL 2004-6 89 SAIL 2004-8 90 SAIL 2004-9 91 SAIL 2005-1 92 SAIL 2005-10 93 SAIL 2005-11 94 SAIL 2005-2 95 SAIL 2005-3 96 SAIL 2005-4 97 SAIL 2005-5 98 SAIL 2005-6 99 SAIL 2005-7 100 SAIL 2005-8 101 SAIL 2005-9 102 SAIL 2005-HE3 103 SAIL 2006-1 104 SAIL 2006-2 105 SAIL 2006-4 106 SAIL 2006-BNC3 107 SARM 2004-10 108 SARM 2004-16 109 SARM 2004-18 110 SARM 2004-20 111 SARM 2004-5 112 SARM 2004-9XS 113 SARM 2005-11 114 SARM 2005-12 115 SARM 2005-15 116 SARM 2005-17 117 SARM 2005-20 118 SARM 2005-22 119 SARM 2005-23 120 SARM 2005-3XS 121 SARM 2005-6XS 122 SARM 2005-8XS 123 SARM 2006-1 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 56 of 79 DB1/ 91137811.2 - 4 - 124 SARM 2006-10 125 SARM 2006-11 126 SARM 2006-12 127 SARM 2006-2 128 SARM 2006-3 129 SARM 2006-4 130 SARM 2006-5 131 SARM 2006-6 132 SARM 2006-7 133 SARM 2006-8 134 SARM 2006-9 135 SARM 2007-1 136 SARM 2007-10 137 SARM 2007-11 138 SARM 2007-2 139 SARM 2007-3 140 SARM 2007-4 141 SARM 2007-6 142 SARM 2007-8 143 SARM 2008-2 144 SASCO 2003-12XS 145 SASCO 2003-15A 146 SASCO 2003-17A 147 SASCO 2003-18XS 148 SASCO 2003-25XS 149 SASCO 2003-26A 150 SASCO 2003-28XS 151 SASCO 2003-29 152 SASCO 2003-30 153 SASCO 2003-34A 154 SASCO 2003-35 155 SASCO 2003-36XS 156 SASCO 2003-38 157 SASCO 2003-39EX 158 SASCO 2003-3XS 159 SASCO 2003-6A 160 SASCO 2003-GEL1 161 SASCO 2003-NP1 162 SASCO 2003-S1 163 SASCO 2003-S2 164 SASCO 2004-10 165 SASCO 2004-11XS 166 SASCO 2004-13 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 57 of 79 DB1/ 91137811.2 - 5 - 167 SASCO 2004-15 168 SASCO 2004-16XS 169 SASCO 2004-17XS 170 SASCO 2004-18H 171 SASCO 2004-19XS 172 SASCO 2004-20 173 SASCO 2004-21XS 174 SASCO 2004-22 175 SASCO 2004-23XS 176 SASCO 2004-2AC 177 SASCO 2004-4XS 178 SASCO 2004-6XS 179 SASCO 2004-7 180 SASCO 2004-9XS 181 SASCO 2004-GEL1 182 SASCO 2004-GEL2 183 SASCO 2004-GEL3 184 SASCO 2004-NP1 185 SASCO 2004-S2 186 SASCO 2004-S3 187 SASCO 2004-S4 188 SASCO 2005-1 189 SASCO 2005-10 190 SASCO 2005-11H 191 SASCO 2005-14 192 SASCO 2005-15 193 SASCO 2005-17 194 SASCO 2005-2XS 195 SASCO 2005-3 196 SASCO 2005-4XS 197 SASCO 2005-5 198 SASCO 2005-7XS 199 SASCO 2005-9XS 200 SASCO 2005-GEL2 201 SASCO 2005-GEL3 202 SASCO 2005-GEL4 203 SASCO 2005-RF1 204 SASCO 2005-RF2 205 SASCO 2005-RF4 206 SASCO 2005-RF5 207 SASCO 2005-RF6 208 SASCO 2005-RF7 209 SASCO 2005-S1 08-13555-scc Doc 55684 Filed 06/29/17 Entered 06/29/17 18:11:02 Main Document Pg 58 of 79 DB1/ 91137811.2 - 6 - 210 SASCO 2005-S2 211 SASCO 2005-S3 212 SASCO 2005-S4 213 SASCO 2005-S5 214 SASCO 2005-S6 215 SASCO 2005-S7 216 SASCO 2005-SC1 217 SASCO 2006-BC2 218 SASCO 2006-BC3 219 SASCO 2006-BC4 220 SASCO 2006-BC6 221 SASCO 2006-GEL1 222 SASCO 2006-GEL2 223 SASCO 2006-GEL3 224 SASCO 2006-GEL4 225 SASCO 2006-RF1 226 SASCO 2006-RF2 227 SASCO 2006-RF3 228 SASCO 2006-RF4 229 SASCO 2006-S1 230 SASCO 2006-S2 231 SASCO 2006-S3 232 SASCO 2006-S4 233 SASCO 2006-Z 234 SASCO 2007-BC1 235 SASCO 2007-BC2 236 SASCO 2007-BC3 237 SASCO 2007-BC4 238 SASCO 2007-BNC1 239 SASCO 2007-GEL1 240 SASCO 2007-GEL2 241 SASCO 2007-MLN1 242 SASCO 2007-OSI 243 SASCO 2007-RF1 244 SASCO 2007-TC1