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 July 1, 2021 to September 30, 2021 |
Date of Report (Date of earliest event reported) November 2, 2021
Commission File Number of securitizer: 025-00668
Central Index Key Number of securitizer: 830013
U.S. Bank National Association
Bradley J. Brunts
952-876-5054
(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) ☐
Item 1.02 Periodic Filing of Rule 15Ga-1 Representations and Warranties Disclosure
Securitizer has repurchase activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2).
Item 2 Exhibits
| 99.1 | Table of all assets securitized by Securitizer that were the subject of a demand to repurchase or replace for breach of the representations and warranties concerning the pool assets for all asset-backed securities held by non-affiliates of the Securitizer during the reporting period. |
SIGNATURE
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.
| U.S. BANK NATIONAL ASSOCIATION (Securitizer) | ||
| By: | /s/Bradley J. Brunts | |
| Bradley J. Brunts | ||
| Senior Vice President | ||
DATE: November 2, 2021
U.S. Bank National Association
Exhibit 99.1
| Name of |
Check if |
Name of Originator |
Total Assets in ABS by Originator |
Assets that were Subject of Demand (c) |
Assets that were Repurchased or Replaced (d) |
Assets Pending Repurchase or Replacement (within cure period) (e) |
Demand in Dispute (f) |
Demand Withdrawn (g) |
Demand Rejected (h) |
Asset Class | Date Of Formation |
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| (#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
(#) | ($) | (% of principal balance) |
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| GNMA CB2765 | USBNA | 403 | $ | 136,037,424.00 | 100.00 | % | 1 | $ | 260,763.88 | 0.20 | % | 1 | $ | 260,763.88 | 0.20 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | |
Residential Mortgages- Prime |
|
2/18/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GNMA CE3657 | USBNA | 491 | $ | 157,836,568.00 | 100.00 | % | 2 | $ | 664,511.37 | 0.43 | % | 2 | $ | 664,511.37 | 0.43 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | — | $ | — | 0.00 | % | |
Residential Mortgages- Prime |
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7/21/21 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| 894 | $ | 293,873,992.00 | 3 | $ | 925,275.25 | 3 | $ | 925,275.25 | — | $ | — | — | $ | — | — | $ | — | — | $ | — | |
Residential Mortgages- Prime |
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Explanatory Notes
Note: The Government National Mortgage Association (“GNMA”), through its Mortgage-Backed Securities (“MBS”) Programs, guarantees securities that are backed by pools of mortgages and issued by mortgage lenders (issuers) approved by GNMA. U.S. Bank National Association (“USBNA”) is an authorized GNMA issuer. The information reported in this filing includes activity related to repurchase demands for “defective mortgages”, as defined in GNMA’s MBS Guide.
| (a) | “Name of Issuing Entity” is GNMA pool number. For multi-issuer pools, only USBNA pool numbers are provided, as USBNA is only responsible for repurchase demands on its own loan pools. |
| (b) | “Name of Originator” is USBNA. While USBNA may have acquired certain of the loans from correspondents, these loans were underwritten specifically to meet GNMA guidelines and any additional criteria required by USBNA. |
| (c) | “Asset that were Subject of Demand” includes repurchase demands made on USBNA during the period and includes only new demands. |
| (d) | “Assets that were Repurchased or Replaced” includes actual repurchases or replacements made by USBNA during the period. The activity may relate to a repurchase demand made during the current period or a previous period. |
| (e) | “Assets Pending Repurchase or Replacement” includes assets where a repurchase or replacement has not been made, including assets where USBNA has not made a decision to accept or contest a demand; any demands in dispute are excluded. |
| (f) | “Demand in Dispute” includes assets where a repurchase demand is contested. |
| (g) | “Demand Withdrawn” includes assets where the party that originally made the repurchase demand has subsequently rescinded or retracted their request. |
| (h) | “Demand Rejected” includes assets where the repurchase request was not fulfilled because the demand was rejected, including demands outside the cure period and not in dispute. |