Form ABS-15G Sutton Funding LLC For: Jun 30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM ABS-15G
ASSET-BACKED SECURITIZER
REPORT PURSUANT TO SECTION 15G OF
THE SECURITIES EXCHANGE ACT OF 1934
Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:
☒ | Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period April 1, 2022 – June 30, 2022. |
Date of Report (Date of earliest event reported): August 15, 2022
SUTTON FUNDING LLC
(Exact name of securitizer as specified in its charter)
025-05871 |
0001889966 | |
(Commission File Number of Securitizer) | (Central Index Key Number of Securitizer) |
Steven P. Glynn, (212) 412-3168 | ||
Name and telephone number, including area code, of the person to contact in connection with this filing. |
Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐
Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐
Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐
☐ | Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2) |
Central Index Key Number of depositor: __________________________
(Exact name of issuing entity as specified in its charter)
Central Index Key Number of issuing entity (if applicable): ______________
Central Index Key Number of underwriter (if applicable): ________________
Name and telephone number, including area code, of the person to contact in connection with this filing
REPRESENTATION AND WARRANTY INFORMATION
Item 1.02 Periodic Filing of Rule 15Ga-1 Representations and Warranties Disclosure(1)
The disclosures required by Rule 15Ga-1 (17 CFR 240.15Ga-1) are attached as Rule 15Ga-1 Exhibit 99.1 to this Form ABS-15G.
Exhibits
99.1 | Disclosures required by Rule 15Ga-1. |
(1) In connection with the preparation of this filing, we undertook the following steps to gather the information required by this Form ABS-15G and Rule 15Ga-1: (i) identifying all asset-backed securities transactions in which we acted as a securitizer that were not the subject of a filing on Form ABS-15G by an affiliated securitizer, (ii) performing a diligent search of our records and the records of affiliates that acted as securitizers in our transactions for all relevant information, (iii) reviewing appropriate documentation from all relevant transactions to determine the parties responsible for enforcing representations and warranties, and other parties who might have received repurchase requests (such parties, "Demand Entities") and (iv) making written request of, or entering into a written agreement with, each Demand Entity to provide any information in its possession regarding requests or demands to repurchase any loans for a breach of a representation or warranty with respect to any relevant transaction. We followed up written requests made of Demand Entities as we deemed appropriate. There may be delays in the transmission of information from Demand Entities due to disruptions resulting from the COVID-19 pandemic.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 8, 2022
SUTTON FUNDING LLC | ||
(Securitizer) | ||
By: | /s/ Esther Bernstein | |
Name: | Esther Bernstein | |
Title: | Authorized Signatory |
EXHIBIT INDEX
Exhibit Number
99.1 | Disclosures required by Rule 15Ga-1. |
Exhibit 99.1 Disclosures Required by Rule 15Ga-11,2
Name of Issuing Entity | Check if Registered | Name of Originator | Total Assets in ABS by Originator | Assets That Were Subject of Demand | Assets That Were Repurchased or Replaced | Assets Pending Repurchase or Replacement (within cure period) | Demand in Dispute | Demand Withdrawn | Demand Rejected | ||||||||||||||
Asset Class: Residential Mortgage Loans | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | (#) | ($) | (% of principal balance) | ||
Barclays Mortgage Trust 2021-NPL1 | Countrywide Home Loans, Inc. | 346 | $55,389,673 | 16.8% | 1 | $108,5443 | 0.03%4 | 1 | $108,5445 | 0.03%6 | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | |
Various Originators | 1,997 | $274,441,828 | 83.2% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | ||
Barclays Mortgage Trust 2021-NPL1 Totals | 2,343 | $329,831,501 | 100% | 1 | $108,544 | 0.03% | 1 | $108,544 | 0.03% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | 0 | $- | 0.0% | ||
Residential Mortgage Loan Totals | 2,343 | $329,831,501 | 1 | $108,544 | 1 | $108,544 | 0 | $- | 0 | $- | 0 | $- | 0 | $- |
1 In connection with the preparation of this filing, we undertook the following steps to gather the information required by this Form ABS-15G and Rule 15Ga-1: (i) identifying all asset-backed securities transactions in which we acted as a securitizer that were not the subject of a filing on Form ABS-15G by an affiliated securitizer, (ii) performing a diligent search of our records and the records of affiliates that acted as securitizers in our transactions for all relevant information, (iii) reviewing appropriate documentation from all relevant transactions to determine the parties responsible for enforcing representations and warranties, and other parties who might have received repurchase requests (such parties, “Demand Entities”) and (iv) making written request of, or entering into a written agreement with, each Demand Entity to provide any information in its possession regarding requests or demands to repurchase any loans for a breach of a representation or warranty with respect to any relevant transaction. We followed up written requests made of Demand Entities as we deemed appropriate. There may be delays in the transmission of information from Demand Entities due to disruptions resulting from the COVID-19 pandemic.
2 For assets where more than one activity occurred during the reporting period, only the most recent activity is reported herein, provided that assets subject to demands to repurchase during the reporting period may be listed in both the column entitled “Assets That Were Subject of Demand” as well as an additional column showing the most recent status during the reporting period. If activity with respect to a particular asset occurred in a prior reporting period and the status of such asset remained unchanged as of the end of the subject reporting period, no activity with respect to such asset is reported herein.
3 Based on the principal balance of the related asset as of the closing date.
4 Represents the percentage of the related asset in the entire securitization pool, based on the principal balances of the assets as of the closing date.
5 Based on the principal balance of the related asset as of the closing date.
6 Represents the percentage of the related asset in the entire securitization pool, based on the principal balances of the assets as of the closing date.
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