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  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview
  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview
  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview
  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview
  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview
  • Hsbc Bank Usa, National Association, In Its Capacity As Trustee Of Nomura Home Equity Loan, Inc., Asset Backed Certificates, Series 2007-2 v. Nomura Credit & Capital, Inc. Commercial Division document preview 
						
                                
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                                FILED:         NEW     YORK       COUNTY        CLERK        08/04/2022             08:00        PM                 INDEX    NO.   650337/2013
   NYSCEF     DOC.   NO.   2601                                                                               RECEIVED      NYSCEF:     08/04/2022




                                                    EXHIBIT                                  65
                                (Attachment                                        Withheld)
   FILED:         NEW     YORK       COUNTY        CLERK        08/04/2022             08:00        PM                 INDEX    NO.   650337/2013
   NYSCEF     DOC.   NO.   2601                                                                               RECEIVED      NYSCEF:     08/04/2022




                                                 NOMURA ASSET ACCEPTANCE CORPORATION
                                                        2 World Financial Center, Bldg. B
                                                           New York, New York          10281



                                                                  August 23, 2011

                      Nancy Luong
                      Corporate Trust Specialist-CTLA-Structured Finance
                      HSBC Bank USA, National Association
                      10 East 40th Street,    14th Floor
                      New York, New York         10016


                      Re:      Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2007-1


                       Dear Ms. Luong:

                      I write   on  behalf of Nomura       Asset   Acceptance     Corporation    ("NAAC")      in  response   to
                      your   letter, dated   May    27,  2011,   purporting    to  be  a "Notice    of  Breach"    pursuant   to.
                      Section 2.03    of the Pooling and     Servicing Agreement,       dated as  of April   1, 2007   ("PSA")
                      and   Section   8  of  the  Mortgage    Loan    Purchase    Agreement,     dated   May    10,  2007   (the
                      "MLPA").       Your   letter recites  that  HSBC     Bank   USA,    National   Association    ("HSBC")
                      received a "Notice of Breach" from Ambac Assurance                Corporation, as Certificate Insurer,
                      and   includes   a  letter  from   that  entity   covering    a  summary     document      (the  "Ambac
                      Summary") purporting to identify the alleged breaches.

                      With respect to     HSBC's     assertion that the   materials   provided    with your   letter constitute
                      notice   of  discovery    of  a  breach   of  a  representation    or  wananty     that  materially   and
                      adversely    affects  the  interests  of the  Certificateholders     in any   Mortgage    Loan,   NAAC
                      rejects that assertion.    Based upon initial review, the materials        do  not constitute notice    of
                      discovery.     Specifically,   no  documentation      was   included   with  the  Ambac     Summary      in
                      support of any     claim that a representation and wananty in          either the PSA or MLP A was
                      breached.     In  addition, •the   majority    of  the  claims   outlined   in  the  Ambac     Summary
                      incorrectly assert that the Nomura Conespondent Underwriting Guidelines (the "Nomura
                      Guidelines")    were violated when the       subject Mortgage Loan was         originated.    We note    in
                      this letter, and  in our responses     attached hereto,    that the underwriting     standards outlined
                      in the Nomura Guidelines are not the subject of Section 8 of the MLP A.                Section 8 relates
                      to the underwriting guidelines of the applicable originator of the Mortgage Loans.




      CONFIDENTIAL                                                                                                          NOM_07-1     02242693
   FILED:         NEW     YORK       COUNTY        CLERK        08/04/2022             08:00        PM                  INDEX    NO.   650337/2013
   NYSCEF     DOC.   NO.   2601                                                                                RECEIVED      NYSCEF:     08/04/2022

                        Nancy Luong      .
                        August 23, 2011
                        Page2


                        Notwithstanding      the  deficiency   of the   materials   enclosed   with   your  letter, NAAC      has
                        prepared complete responses to the claims asserted in the Ambac Summary (see attached).




                        Enclosure


                        Cc:

                        Ambac Assurance Corporation (with attacbment)
                        One State Street Plaza
                        New York, New York         10004
                        Attn:  Rachel A.    Gupta

                        Wells Fargo Bank, N.A.       (Master Servicer & S.A.) (without attacbment)
                        9062   Old Annapolis Road
                        Columbia, Maryland 21045-1951
                        Attn:  Client Manager NAAC 2007-1

                        Wells Fargo Bank, N.A.        (Servicer) (without attacbment)
                        1 Home Campus
                        Des Moines, IA      50328
                        Attn:  John Brown      MAC X2302-033
                        Attn:  General Counsel MAC X2401-06T




      CONFIDENTIAL                                                                                                          NOM    07-1  02242694