1 / 8

HFA Initiative Webinar Settlement Process

HFA Initiative Webinar Settlement Process. Monday, December 7, 2009 11 a.m. – 12 noon. Agenda. Special Advisor Role Pre-Settlement Requirements HFA Bond Settlement (12/21) GSE Bond Settlement (12/23) Contact Information Questions. Special Advisor Role.

taryn
Download Presentation

HFA Initiative Webinar Settlement Process

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HFA Initiative WebinarSettlement Process Monday, December 7, 2009 11 a.m. – 12 noon

  2. Agenda • Special Advisor Role • Pre-Settlement Requirements • HFA Bond Settlement (12/21) • GSE Bond Settlement (12/23) • Contact Information • Questions

  3. Special Advisor Role • In order to ensure the successful settlement of the Program Bonds and the GSE Securities, HFA Special Advisors must: • do all things necessary to register the Program Bonds with DTC so they can be settled, released and credited to the Closing Agent on the pre-settlement day, and • provide the GSEs with a 10b-5 opinion with respect to the Official Statement issued for the Program Bonds. • The Special Advisor may be any experienced party able to successfully perform the duties detailed in the Placement and Settlement Agreements with regard to properly setting up and processing bonds through DTC. • Despite the fact that an HFA’s Program Bonds will not be traditionally underwritten or placed by an investment bank, an investment bank is generally skilled and experienced in performing the duties required of the Special Advisor under this Program. • Similarly, a qualified Financial Advisor may routinely and customarily perform the duties required of the Special Advisor within this Program. • The Special Advisor will provide a UW Source spreadsheet to US Bank instead of providing the Eligibility Questionnaire to DTC. • US Bank will register the program bonds with DTC and US Bank will be listed as the ‘Lead Underwriter’ on the DTC System. • HFAs that are issuing Market Bonds in 2009 should follow their normal process for the issuance of Market Bonds (i.e. those bonds should not be included in the UW Source spreadsheet).

  4. Pre-Settlement Requirements

  5. HFA Bond Settlement (12/21)

  6. GSE Bond Settlement (12/23)

  7. Contact Information • USBank Email the Official Statement and the UW Source spreadsheet to US Bank at usbhfa@usbank.com to facilitate loading bonds onto DTC. For questions related to the spreadsheet please contact: David MassaNY Corporate Trust ManagerU.S. Bank Corporate Trust Services100 Wall Street, Suite 1600New York, NY 10005Phone (212) 361-4386Fax (212) 809-4993Email: david.massa@usbank.com • DTC Tracy BarnesThe Depository Trust and Clearing CorporationSouthern Business CenterSupervisor- Underwriting EligibilityOffice: 813 470-1049  Fax: 813 470-1037E-mail: tbarnes@dtcc.com For questions related to the Letter of Representation please contact: Joe Cutaia  212 855-1329   E-mail: uwcorplor@dtcc.com • Fannie Mae & Freddie MacPlease contact your assigned Deal Manager

  8. Q&A Questions...

More Related