Insufficient funds expected for E-MAC put Applies across programme

摘要

The issuer of E-MAC Program has notified noteholders that it does not expect to have enough funds to redeem any put option notes held for redemption on the October 27 put date. This applies to the following in the E-MAC RMBS deals: 2006-3, 2007-3, 2007-4, 2008-2 and 2008-4. The MPT provider informed the issuer that it does not have the financial means to grant the servicing advance loan on or before the put date, while the issuer also has reason to doubt it will find a third party willing to buy mortgage receivables or provide the advance loan by the put date.