Welcome to the RMBS Trustees’ Website concerning Citigroup Inc.’s Settlement Offer
DEUTSCHE BANK NATIONAL TRUST COMPANY,
HSBC BANK USA, NATIONAL ASSOCIATION,
LAW DEBENTURE TRUST COMPANY OF NEW YORK, AND
U.S. BANK NATIONAL ASSOCIATION
have established this website (http://www.citigrouprmbstrusteesettlement.com), in their respective capacities as trustees, separate trustees and/or successor trustees (collectively, the “RMBS Trustees” and each, an “RMBS Trustee”) of the sixty-eight (68) residential mortgage-backed securitization trusts listed under List of RMBS Trusts herein (the “RMBS Trusts” and each, an “RMBS Trust”), to provide to holders of certificates, notes or other securities representing interests in the RMBS Trusts (the “Certificateholders”), and to other persons potentially interested in the RMBS Trusts, public access to information of interest concerning a settlement offer made by Citigroup Inc. (“Citigroup”) to the RMBS Trustees on April 7, 2014 concerning certain claims of the RMBS Trusts against Citigroup (the “Proposed Settlement Agreement”). The Proposed Settlement Agreement is posted under Certain Relevant Documents herein.
The Proposed Settlement Agreement could materially affect the interests of Certificateholders of the RMBS Trusts. Certificateholders of the RMBS Trusts and other persons potentially interested in the RMBS Trusts should therefore read carefully all notices, documents and other information posted hereon in consultation with their legal and financial advisors.
The settlement offer set forth in the Proposed Settlement Agreement originally was set to expire on June 30, 2014 (the “Acceptance Date”). On June 13, 2014, the RMBS Trustees exercised their right to extend the Acceptance Date for an additional forty-five (45) day period, through and including August 14, 2014. At the RMBS Trustees’ request, Citigroup agreed on July 28, 2014 to extend the Acceptance Date to and including October 31, 2014. Similarly, Citigroup and the RMBS Trustees agreed to extend each of the Forbearance Period and the Trustee Tolling Period (under and as defined in the Tolling and Forbearance Agreement, dated June 24, 2014, and posted hereon) through and including October 31, 2014. Additional extensions may be granted upon Citigroup’s consent.