Current Report — Form 8-K Filing Table of Contents
Document/ExhibitDescriptionPagesSize 1: 8-K Option One Mortgage Corporation HTML 39K
2: EX-1 Underwriting Agreement HTML 196K
3: EX-4.1 Pooling and Servicing Agreement HTML 8.57M
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790-8100
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SECTION
2- Completion of Acquisition or Disposition of Assets
Item
2.01 Acquisition
or Disposition of Assets
Description
of the Certificates and the Mortgage Pool
On
May30, 2007, a single series of certificates, entitled Option One Mortgage Loan
Trust 2007-6, Asset-Backed Certificates, Series 2007-6 (the “Certificates”),
were issued pursuant to a pooling and servicing agreement, dated as of May1,2007 (the “Agreement”), attached hereto as Exhibit 4.1, among Option Mortgage
Acceptance Corporation as depositor (the “Depositor”), Option One Mortgage
Corporation (“Option One”) as servicer (the “Servicer”) and Wells Fargo Bank,
N.A. as trustee (the “Trustee”). The Certificates consist of nineteen
classes of certificates (collectively, the “Certificates”), designated as the
“Class I-A-1 Certificates”, “Class II-A-1 Certificates”, “Class II-A-2
Certificates”, “Class II-A-3 Certificates”, “Class II-A-4 Certificates”, “Class
M-1 Certificates”, “Class M-2 Certificates”, “Class M-3 Certificates”, “Class
M-4 Certificates”, “Class M-5 Certificates”, “Class M-6 Certificates”, “Class
M-7 Certificates”, “Class M-8 Certificates”, “Class M-9 Certificates”, “Class
M-10 Certificates”, “Class C Certificates”, “Class P Certificates”, “Class R
Certificates” and “Class R-X Certificates”. The Certificates evidence
in the aggregate the entire beneficial ownership interest in a trust fund (the
“Trust Fund”), consisting of a pool of mortgage loans (the “Mortgage Pool”) of
conventional, one- to four- family, fixed-rate and adjustable-rate, first lien
and second lien mortgage loans having original terms to maturity up to 30 years
(the “Mortgage Loans”). The Mortgage Pool consists of Mortgage Loans
having an aggregate principal balance of $1,013,491,636.99 as of May 1, 2007
(the “Cut-off Date”). The Mortgage Loans were purchased pursuant to
the Mortgage Loan Purchase Agreement, dated May 17, 2007, among the Depositor,
Option One, Option One Mortgage Capital Corporation, Option One Owner Trust
2001-1A, Option One Owner Trust 2001-2, Option One Owner Trust 2002-3, Option
One Owner Trust 2003-4, Option One Owner Trust 2003-5, Option One Owner Trust
2005-6, Option One Owner Trust 2005-9 and Option One Owner Trust
2007-5A. The Class I-A-1 Certificates , Class II-A-1 Certificates,
Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-4 Certificates,
Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class
M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7
Certificates, Class M-8 Certificates and Class M-9 Certificates were sold by
the
Depositor to Banc of America Securities LLC, Citigroup Global Markets Inc.,
Greenwich Capital Markets, Inc. and H&R Block Financial Advisors, Inc. (the
“Underwriters) pursuant to an Underwriting Agreement, dated May 17, 2007 (the
“Underwriting Agreement”) among the Depositor, Option One and the
Underwriters.
The
Class
M-10 Certificates were sold to Banc of America Securities LLC and Citigroup
Global Markets Inc. (the “Initial Purchasers”) on May 30, 2007, in a transaction
exempt from registration under the Securities Act of 1933, as amended pursuant
to Section 4(2) of that Act. The net proceeds from the sale of those
certificates were applied by the Depositor towards the purchase of the Mortgage
Loans constituting the pool assets.
The
Class
C, Class P, Class R and Class R-X Certificates were delivered by the Depositor
to Option One Mortgage Capital Corporation as partial consideration for the
Mortgage Loans constituting the pool assets.
The
Certificates have the following initial Certificate Principal Balances and
Pass-Through Rates:
Class
Initial
Certificate Principal
Balance
or Notional Amount
Pass-Through
Rate
I-A-1
$
435,470,000.00
Variable
II-A-1
$
127,815,000.00
Variable
II-A-2
$
128,760,000.00
Variable
II-A-3
$
36,824,000.00
Variable
II-A-4
$
46,451,000.00
Variable
M-1
$
52,702,000.00
Variable
M-2
$
38,006,000.00
Variable
M-3
$
19,763,000.00
Variable
M-4
$
17,736,000.00
Variable
M-5
$
16,723,000.00
Variable
M-6
$
10,135,000.00
Variable
M-7
$
13,175,000.00
Variable
M-8
$
10,135,000.00
Variable
M-9
$
14,189,000.00
Variable
M-10
$
15,202,000.00
Variable
C
$
1,013,491,536.99
N/A
P
$
100.00
N/A
R
N/A
N/A
R-X
N/A
N/A
The
Certificates (other than the “Class M-10 Certificates”, “Class C Certificates”,
“Class P Certificates”, “Class R Certificates” and “Class R-X Certificates”) and
the Mortgage Loans are more particularly described in the Prospectus, dated
February 28, 2007 and the Prospectus Supplement, dated May 17, 2007 as
previously filed with the Securities and Exchange Commission pursuant to Rule
424(b). The “Class M-10 Certificates”, “Class C Certificates”, “Class
P Certificates”, “Class R Certificates” and “Class R-X Certificates” have not
been and will not be publicly offered by the Depositor. Capitalized
terms used but not otherwise defined herein shall have the meanings assigned
to
them in the Prospectus Supplement.
Section
9 Financial Statements and Exhibits
Item
9.01
Financial
Statements and Exhibits
(a)
Not
applicable
(b)
Not
applicable
(c)
Exhibits
Exhibit
No.
Description
1.1
Underwriting
Agreement, dated as of May 17, 2007, by and among the Depositor,
Option
One Mortgage Corporation, Banc of America Securities LLC, Citigroup
Global
Markets Inc., Greenwich Capital Markets, Inc. and H&R Block Financial
Advisors, Inc., relating to the Series 2007-6 Certificates.
4.1
Pooling
and Servicing Agreement, dated as of May 1, 2007, by and among Option
One
Mortgage Acceptance Corporation as Depositor, Option One Mortgage
Corporation as Servicer and Wells Fargo Bank, N.A. as Trustee, relating
to
the Series 2007-6 Certificates.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
Underwriting
Agreement, dated as of May 17, 2007, by and among the Depositor,
Option
One Mortgage Corporation, Banc of America Securities LLC, Citigroup
Global
Markets Inc., Greenwich Capital Markets, Inc. and H&R Block Financial
Advisors, Inc., relating to the Series 2007-6 Certificates.
4.1
Pooling
and Servicing Agreement, dated as of May 1, 2007, by and among Option
One
Mortgage Acceptance Corporation as Depositor, Option One Mortgage
Corporation as Servicer and Wells Fargo Bank, N.A. as Trustee, relating
to
the Series 2007-6 Certificates.
Dates Referenced Herein and Documents Incorporated by Reference
