The following statement is being issued by GCG, Inc. regarding the proposed Countrywide RMBS Settlement.
CORPORATION, AND BAC HOME LOANS SERVICING, LP
TRUSTS.
IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RETRANSMITTAL TO CERTIFICATEHOLDERS IN A TIMELY MANNER.
This notice (the "Notice") is given to you by The Bank of New York Mellon ("Trustee"), as trustee or indenture trustee under the Pooling and Servicing Agreements and Indentures and related Sales and Servicing Agreements (collectively, the "Governing Agreements") governing the Trusts.
A settlement has been reached between the Trustee, on the one hand, and Countrywide Home Loans, Inc. ("CHL"), Countrywide Financial Corporation (together with CHL, "Countrywide"), Bank of America Corporation ("BAC"), and BAC Home Loans Servicing, LP, formerly known as Countrywide Home Loans Servicing, LP ("BAC HLS," and together with BAC, "Bank of America"), on the other, concerning CHL's alleged breaches of representations and warranties in the Governing Agreements, and BAC HLS's alleged violations of prudent servicing obligations thereunder (the "Settlement"). The Settlement requires Bank of America and/or Countrywide to pay a total of US$8,500,000,000.00 (US$8.5 billion) into the Trusts (the "Settlement Payment"). It also requires BAC HLS to implement, among other things, a series of loan servicing procedures and improvements. The Trustee has filed a Verified Petition and commenced a special proceeding, In the matter of the application of The Bank of New York Mellon (Index No. 651786/2011), in the Supreme Court of the State of New York, County of New York (the "Court") seeking a judgment, among other things, approving the Settlement and ordering that the Settlement is binding on all Certificateholders. The Settlement Agreement is attached to the Verified Petition as Exhibit B.
The Court has scheduled a hearing on the Verified Petition for November 17, 2011 at 2:15 p.m. at the Supreme Court of the State of New York, County of New York, 60 Centre Street, New York, New York 10007. The Court has the right to change the hearing date or time without further notice. At the hearing, the Court will determine, among other things, whether to approve the Settlement and make it binding on all Certificateholders, and will consider other important matters described in the Settlement Agreement. The Settlement, if approved by the Court, will affect the rights and interests of all Certificateholders, and their successors-in-interests and assigns, in the Trusts, including by, among other things, releasing claims on behalf of the Trustee, the Trusts and all Certificateholders in the Trusts and their successors-in-interests and assigns arising out of or relating to (i) the origination, sale, or delivery of mortgages to the Trusts, including representations and warranties made with respect to those mortgages and any mortgage repurchase obligations, (ii) servicing of the mortgages in the Trusts, with certain exceptions, and (iii) documentation of the mortgages in the Trusts, with certain exceptions. (See the Settlement Agreement for a complete description of the releases provided for therein.)
Any Certificateholder or other person potentially interested in the Trusts may object to any aspect of the Settlement and request to be heard at the hearing by submitting a written notice prior to the hearing in the manner explained in the Court's Order dated June 29, 2011 (the "Preliminary Order"). The Court has directed that any objections to the Settlement must be filed with the Court and served upon the Trustee's counsel by August 30, 2011, and that any (i) responses to objections, or (ii) submissions in favor of or with respect to the Settlement, must be filed and served by October 31, 2011. (Further information regarding the methodology for filing and serving papers is contained in the Preliminary Order and available as explained below.) If the Court approves the Settlement, all Certificateholders will be bound by the Settlement and the releases contained in the Settlement Agreement whether or not they appeared in the matter or submitted any objection to the Settlement. The Court has ordered that anyone who fails to object in the manner described in the Preliminary Order shall be deemed to have waived the right to object (including any right of appeal) and shall be forever barred from raising such objection before the Court or in any other action or proceeding, unless the Court orders otherwise. The Court has ordered that it retains jurisdiction over the Trustee, the Trusts and all Certificateholders (and their successors-in-interests, assigns or transferees, whether past, present or future) for all matters related to the Settlement and the special proceeding commenced by the Trustee seeking approval of the Settlement.
This Notice summarizes the special proceeding and the Settlement and is not a complete statement of the special proceeding or the Settlement. The Verified Petition, any papers filed in support of the Verified Petition, any orders entered by the Court in the special proceeding and other information relevant to the special proceeding are available at http://www.cwrmbssettlement.com, which will be updated when additional papers are filed or additional orders are entered in the special proceeding. You should also be able to obtain any documents filed with the Court by visiting the Court's website: http://iapps.courts.state.ny.us/iscroll/. If you have any questions, you may call (866) 294-7876 in the United States, +1 (614) 569-0289 outside the United States, or send an email to Questions@cwrmbssettlement.com.
Inquiries should NOT be directed to the Trustee, the Court, or the Clerk of the Court.
MISCELLANEOUS
Certificateholders and other persons potentially interested in the Trusts should not rely on the Trustee, or on counsel or other advisors retained by the Trustee, as their sole source of information. The Trustee neither makes any recommendation generally nor otherwise gives any investment advice herein.
EXHIBIT A
CWALT CWHL ------------------- CWALT 2005-J6 ----------------- CWHL 2007-HY3 CWALT 2004-10CB CWALT 2005-J7 CWHL 2004-10 CWHL 2007-HY4 CWALT 2004-12CB CWALT 2005-J8 CWHL 2004-11 CWHL 2007-HY5 CWALT 2004-13CB CWALT 2005-J9 CWHL 2004-12 CWHL 2007-HY6 CWALT 2004-14T2 CWALT 2006-11CB CWHL 2004-13 CWHL 2007-HY7 CWALT 2004-15 CWALT 2006-12CB CWHL 2004-14 CWHL 2007-HYB1 CWALT 2004-16CB CWALT 2006-13T1 CWHL 2004-15 CWHL 2007-HYB2 CWALT 2004-17CB CWALT 2006-14CB CWHL 2004-16 CWHL 2007-J1 CWALT 2004-18CB CWALT 2006-15CB CWHL 2004-18 CWHL 2007-J2 CWALT 2004-20T1 CWALT 2006-16CB CWHL 2004-19 CWHL 2007-J3 CWALT 2004-22CB CWALT 2006-17T1 CWHL 2004-2 CWHL 2008-1 CWALT 2004-24CB CWALT 2006-18CB CWHL 2004-20 CWL
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CWALT 2004-25CB CWALT 2006-19CB CWHL 2004-21 CWL 2004-1
CWALT 2004-26T1 CWALT 2006-20CB CWHL 2004-22 CWL 2004-10
CWALT 2004-27CB CWALT 2006-21CB CWHL 2004-23 CWL 2004-11
CWALT 2004-28CB CWALT 2006-23CB CWHL 2004-24 CWL 2004-12
CWALT 2004-29CB CWALT 2006-24CB CWHL 2004-25 CWL 2004-13
CWALT 2004-2CB CWALT 2006-25CB CWHL 2004-29 CWL 2004-14
CWALT 2004-30CB CWALT 2006-26CB CWHL 2004-3 CWL 2004-15
CWALT 2004-32CB CWALT 2006-27CB CWHL 2004-4 CWL 2004-2
CWALT 2004-33 CWALT 2006-28CB CWHL 2004-5 CWL 2004-3
CWALT 2004-34T1 CWALT 2006-29T1 CWHL 2004-6 CWL 2004-4
CWALT 2004-35T2 CWALT 2006-2CB CWHL 2004-7 CWL 2004-5
CWALT 2004-36CB CWALT 2006-30T1 CWHL 2004-8 CWL 2004-6
CWALT 2004-3T1 CWALT 2006-31CB CWHL 2004-9 CWL 2004-7
CWALT 2004-4CB CWALT 2006-32CB CWHL 2004-HYB1 CWL 2004-8
CWALT 2004-5CB CWALT 2006-33CB CWHL 2004-HYB2 CWL 2004-9
CWALT 2004-6CB CWALT 2006-34 CWHL 2004-HYB3 CWL 2004-AB1
CWALT 2004-7T1 CWALT 2006-35CB CWHL 2004-HYB4 CWL 2004-AB2
CWALT 2004-8CB CWALT 2006-36T2 CWHL 2004-HYB5 CWL 2004-BC2
CWALT 2004-9T1 CWALT 2006-39CB CWHL 2004-HYB6 CWL 2004-BC3
CWALT 2004-J10 CWALT 2006-40T1 CWHL 2004-HYB7 CWL 2004-BC4
CWALT 2004-J11 CWALT 2006-41CB CWHL 2004-HYB8 CWL 2004-BC5
CWALT 2004-J12 CWALT 2006-42 CWHL 2004-HYB9 CWL 2004-ECC1
CWALT 2004-J13 CWALT 2006-43CB CWHL 2004-J2 CWL 2004-ECC2
CWALT 2004-J2 CWALT 2006-45T1 CWHL 2004-J3 CWL 2004-S1
CWALT 2004-J3 CWALT 2006-46 CWHL 2004-J4 CWL 2004-SD2
CWALT 2004-J4 CWALT 2006-4CB CWHL 2004-J5 CWL 2004-SD3
CWALT 2004-J5 CWALT 2006-5T2 CWHL 2004-J6 CWL 2004-SD4
CWALT 2004-J6 CWALT 2006-6CB CWHL 2004-J7 CWL 2005-1
CWALT 2004-J7 CWALT 2006-7CB CWHL 2004-J8 CWL 2005-10
CWALT 2004-J8 CWALT 2006-8T1 CWHL 2004-J9 CWL 2005-11
CWALT 2004-J9 CWALT 2006-9T1 CWHL 2005-1 CWL 2005-12
CWALT 2005-10CB CWALT 2006-HY10 CWHL 2005-10 CWL 2005-13
CWALT 2005-11CB CWALT 2006-HY11 CWHL 2005-11 CWL 2005-14
CWALT 2005-13CB CWALT 2006-HY12 CWHL 2005-12 CWL 2005-15
CWALT 2005-14 CWALT 2006-HY13 CWHL 2005-13 CWL 2005-16
CWALT 2005-16 CWALT 2006-HY3 CWHL 2005-14 CWL 2005-17
CWALT 2005-17 CWALT 2006-J1 CWHL 2005-15 CWL 2005-2
CWALT 2005-18CB CWALT 2006-J2 CWHL 2005-16 CWL 2005-3
CWALT 2005-19CB CWALT 2006-J3 CWHL 2005-17 CWL 2005-4
CWALT 2005-1CB CWALT 2006-J4 CWHL 2005-18 CWL 2005-5
CWALT 2005-2 CWALT 2006-J5 CWHL 2005-2 CWL 2005-6
CWALT 2005-20CB CWALT 2006-J6 CWHL 2005-20 CWL 2005-7
CWALT 2005-21CB CWALT 2006-J7 CWHL 2005-21 CWL 2005-8
CWALT 2005-22T1 CWALT 2006-J8 CWHL 2005-22 CWL 2005-9
CWALT 2005-23CB CWALT 2006-OA1 CWHL 2005-23 CWL 2005-AB1
CWALT 2005-24 CWALT 2006-OA10 CWHL 2005-24 CWL 2005-AB2
CWALT 2005-25T1 CWALT 2006-OA11 CWHL 2005-25 CWL 2005-AB3
CWALT 2005-26CB CWALT 2006-OA12 CWHL 2005-26 CWL 2005-AB4
CWALT 2005-27 CWALT 2006-OA14 CWHL 2005-27 CWL 2005-AB5
CWALT 2005-28CB CWALT 2006-OA16 CWHL 2005-28 CWL 2005-BC1
CWALT 2005-29CB CWALT 2006-OA17 CWHL 2005-29 CWL 2005-BC2
CWALT 2005-30CB CWALT 2006-OA18 CWHL 2005-3 CWL 2005-BC3
CWALT 2005-31 CWALT 2006-OA19 CWHL 2005-30 CWL 2005-BC4
CWALT 2005-32T1 CWALT 2006-OA2 CWHL 2005-31 CWL 2005-BC5
CWALT 2005-33CB CWALT 2006-OA21 CWHL 2005-5 CWL 2005-HYB9
CWALT 2005-34CB CWALT 2006-OA22 CWHL 2005-6 CWL 2005-IM1
CWALT 2005-35CB CWALT 2006-OA3 CWHL 2005-7 CWL 2005-IM2
CWALT 2005-36 CWALT 2006-OA6 CWHL 2005-9 CWL 2005-IM3
CWALT 2005-37T1 CWALT 2006-OA7 CWHL 2005-HYB10 CWL 2005-SD1
CWALT 2005-38 CWALT 2006-OA8 CWHL 2005-HYB1 CWL 2005-SD2
CWALT 2005-3CB CWALT 2006-OA9 CWHL 2005-HYB2 CWL 2005-SD3
CWALT 2005-4 CWALT 2006-OC1 CWHL 2005-HYB3 CWL 2006-1
CWALT 2005-40CB CWALT 2006-OC10 CWHL 2005-HYB4 CWL 2006-10
CWALT 2005-41 CWALT 2006-OC11 CWHL 2005-HYB5 CWL 2006-11
CWALT 2005-42CB CWALT 2006-OC2 CWHL 2005-HYB6 CWL 2006-12
CWALT 2005-43 CWALT 2006-OC3 CWHL 2005-HYB7 CWL 2006-13
CWALT 2005-44 CWALT 2006-OC4 CWHL 2005-HYB8 CWL 2006-14
CWALT 2005-45 CWALT 2006-OC5 CWHL 2005-J1 CWL 2006-15
CWALT 2005-46CB CWALT 2006-OC6 CWHL 2005-J2 CWL 2006-16
CWALT 2005-47CB CWALT 2006-OC7 CWHL 2005-J3 CWL 2006-17
CWALT 2005-48T1 CWALT 2006-OC8 CWHL 2005-J4 CWL 2006-18
CWALT 2005-49CB CWALT 2006-OC9 CWHL 2006-1 CWL 2006-19
CWALT 2005-50CB CWALT 2007-10CB CWHL 2006-10 CWL 2006-2
CWALT 2005-51 CWALT 2007-11T1 CWHL 2006-11 CWL 2006-20
CWALT 2005-52CB CWALT 2007-12T1 CWHL 2006-12 CWL 2006-21
CWALT 2005-53T2 CWALT 2007-13 CWHL 2006-13 CWL 2006-22
CWALT 2005-54CB CWALT 2007-14T2 CWHL 2006-14 CWL 2006-23
CWALT 2005-55CB CWALT 2007-15CB CWHL 2006-15 CWL 2006-24
CWALT 2005-56 CWALT 2007-16CB CWHL 2006-16 CWL 2006-25
CWALT 2005-57CB CWALT 2007-17CB CWHL 2006-17 CWL 2006-26
CWALT 2005-58 CWALT 2007-18CB CWHL 2006-18 CWL 2006-3
CWALT 2005-59 CWALT 2007-19 CWHL 2006-19 CWL 2006-4
CWALT 2005-60T1 CWALT 2007-1T1 CWHL 2006-20 CWL 2006-5
CWALT 2005-61 CWALT 2007-20 CWHL 2006-21 CWL 2006-6
CWALT 2005-62 CWALT 2007-21CB CWHL 2006-3 CWL 2006-7
CWALT 2005-63 CWALT 2007-22 CWHL 2006-6 CWL 2006-8
CWALT 2005-64CB CWALT 2007-23CB CWHL 2006-8 CWL 2006-9
CWALT 2005-65CB CWALT 2007-24 CWHL 2006-9 CWL 2006-ABC1
CWALT 2005-66 CWALT 2007-25 CWHL 2006-HYB1 CWL 2006-BC1
CWALT 2005-67CB CWALT 2007-2CB CWHL 2006-HYB2 CWL 2006-BC2
CWALT 2005-69 CWALT 2007-3T1 CWHL 2006-HYB3 CWL 2006-BC3
CWALT 2005-6CB CWALT 2007-4CB CWHL 2006-HYB4 CWL 2006-BC4
CWALT 2005-70CB CWALT 2007-5CB CWHL 2006-HYB5 CWL 2006-BC5
CWALT 2005-71 CWALT 2007-6 CWHL 2006-J1 CWL 2006-IM1
CWALT 2005-72 CWALT 2007-7T2 CWHL 2006-J2 CWL 2006-QH1
CWALT 2005-73CB CWALT 2007-8CB CWHL 2006-J3 CWL 2006-SD1
CWALT 2005-74T1 CWALT 2007-9T1 CWHL 2006-J4 CWL 2006-SD2
CWALT 2005-75CB CWALT 2007-AL1 CWHL 2006-OA4 CWL 2006-SD3
CWALT 2005-76 CWALT 2007-HY2 CWHL 2006-OA5 CWL 2006-SD4
CWALT 2005-77T1 CWALT 2007-HY3 CWHL 2006-TM1 CWL 2006-SPS1
CWALT 2005-79CB CWALT 2007-HY4 CWHL 2007-1 CWL 2006-SPS2
CWALT 2005-7CB CWALT 2007-HY6 CWHL 2007-10 CWL 2007-1
CWALT 2005-80CB CWALT 2007-HY7C CWHL 2007-11 CWL 2007-10
CWALT 2005-81 CWALT 2007-HY8C CWHL 2007-12 CWL 2007-11
CWALT 2005-82 CWALT 2007-HY9 CWHL 2007-13 CWL 2007-12
CWALT 2005-83CB CWALT 2007-J1 CWHL 2007-14 CWL 2007-13
CWALT 2005-84 CWALT 2007-J2 CWHL 2007-15 CWL 2007-2
CWALT 2005-85CB CWALT 2007-OA10 CWHL 2007-16 CWL 2007-3
CWALT 2005-86CB CWALT 2007-OA11 CWHL 2007-17 CWL 2007-4
CWALT 2005-9CB CWALT 2007-OA2 CWHL 2007-18 CWL 2007-5
CWALT 2005-AR1 CWALT 2007-OA3 CWHL 2007-19 CWL 2007-6
CWALT 2005-IM1 CWALT 2007-OA4 CWHL 2007-2 CWL 2007-7
CWALT 2005-J1 CWALT 2007-OA6 CWHL 2007-20 CWL 2007-8
CWALT 2005-J10 CWALT 2007-OA7 CWHL 2007-21 CWL 2007-9
CWALT 2005-J11 CWALT 2007-OA8 CWHL 2007-3 CWL 2007-BC1
CWALT 2005-J12 CWALT 2007-OA9 CWHL 2007-4 CWL 2007-BC2
CWALT 2005-J13 CWALT 2007-OH1 CWHL 2007-5 CWL 2007-BC3
CWALT 2005-J14 CWALT 2007-OH2 CWHL 2007-6 CWL 2007-SD1
CWALT 2005-J2 CWALT 2007-OH3 CWHL 2007-7 CWL 2007-SEA1
CWALT 2005-J3 CWHEL
------------------- CWHL 2007-8 CWL 2007-SEA2
CWALT 2005-J4 CWHEL 2006-A CWHL 2007-9
CWALT 2005-J5 CWHEL 2007-G CWHL 2007-HY1
CONTACT: Jeanne Finegan
GCG, Inc.
(503) 906-5301