8-K 1 d487410.htm NOMURA HOME EQUITY LOAN, INC.

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported January 30, 2006)

 

NOMURA HOME EQUITY LOAN, INC.

 

(as depositor under the Pooling and Servicing Agreement,

dated as of January 1, 2006, providing for the issuance of

Nomura Home Equity Loan, Inc., Home Equity Loan Trust Series 2006-FM1, Asset-Backed Certificates)

 

NOMURA HOME EQUITY LOAN, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

333-126435

 

20-2748651

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

 

 

 

 

Two World Financial Center, Building B, 21st Floor, New York, New York

 

 

 

10281

(Address of Principal Executive Offices)

 

 

 

(Zip Code)

 

 

Registrant’s telephone number, including area code, is (212) 667-9300.

 

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

Item 2.01 Completion of Acquisition or Disposition of Assets

Description of the Certificates and the Mortgage Pool

On January 30, 2006, a series of certificates, entitled Nomura Home Equity Loan, Inc., Home Equity Loan Trust Series 2006-FM1, Asset-Backed Certificates (the “Certificates”), were issued pursuant to a pooling and servicing agreement, dated as of January 1, 2006 (the “Agreement”), attached hereto as Exhibit 4.1, among Nomura Home Equity Loan, Inc., as depositor (the “Depositor”), Nomura Credit & Capital, Inc., as sponsor (the “Sponsor”), Equity One, Inc., as servicer (the “Servicer”), Wells Fargo Bank, National Association, as securities administrator (“Securities Administrator”) and master servicer (“Master Servicer”) and HSBC Bank USA, National Association, as trustee (the “Trustee”). The Certificates consist of eighteen (19) classes of certificates, designated as the “Class I-A 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 B-1 Certificates”, “Class B-2 Certificates”, “Class P Certificates”, “Class X Certificates” and “Class R Certificates”. The Certificates evidence in the aggregate the entire beneficial ownership interest in a trust fund, consisting of a pool of mortgage loans (the “Mortgage Pool’”) of conventional, one- to four- family, fixed-rate and adjustable-rate, first 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 approximately $888,479,000 as of January 1, 2006. The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated January 30, 2006, between Sponsor and Depositor. The Class I-A 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 Nomura Securities International, Inc. (the “Underwriter”) pursuant to the Amended and Restated Underwriting Agreement, dated January 1, 2006, between the Depositor and the Underwriter, and the Terms Agreement, dated January 27, 2006.

The Certificates have the following initial Certificate Balances and Pass-Through Rates:

 

Class

 

Initial Certificate
Principal Balance(1)

 

Pass-Through
Rate

 

I-A

 

$

309,550,000

 

Floating

 

II-A-1

 

$

259,659,000

 

Floating

 

II-A-2

 

$

51,016,000

 

Floating

 

II-A-3

 

$

71,130,000

 

Floating

 

II-A-4

 

$

21,579,000

 

Floating

 

M-1

 

$

35,950,000

 

Floating

 

M-2

 

$

32,682,000

 

Floating

 

M-3

 

$

20,542,000

 

Floating

 

M-4

 

$

18,208,000

 

Floating

 

 

 


 

 

M-5

 

$

17,274,000

 

Floating

 

M-6

 

$

14,473,000

 

Floating

 

M-7

 

$

14,473,000

 

Floating

 

M-8

 

$

12,139,000

 

Floating

 

M-9

 

$

9,804,000

 

Floating

 

 

 

(1)

Approximate.
 

The Certificates, other than the Class B-1 Certificates, Class B-2 Certificates, Class P Certificates, Class X Certificates and Class R Certificates, and the Mortgage Loans are more particularly described in the Prospectus Supplement, dated January 27, 2006 (the “Prospectus Supplement”), and the Prospectus, dated October 27, 2005, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class B-1 Certificates, Class B-2 Certificates, Class P Certificates, Class X Certificates and Class R 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.

 


 

Item 9.01

Financial Statements and Exhibits

(a)

Not applicable

(b)

Not applicable

(c)

Exhibits

 

Exhibit No.

Description

4.1

Pooling and Servicing Agreement, dated as of January 1, 2006, by and among Nomura Home Equity Loan, Inc., as Depositor, Nomura Credit & Capital, Inc., as Sponsor, Equity One, Inc., as Servicer, Wells Fargo Bank, National Association, as Securities Administrator and Master Servicer and HSBC Bank USA, National Association, as Trustee relating to the Series 2006-FM1 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.

 

Dated: April 11, 2006

 

 

 

 

 

 

 

NOMURA HOME EQUITY LOAN, INC.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ N. Dante LaRocca  

 

 

 

 

 

 

 

Name:

N. Dante LaRocca  

 

 

 

 

 

 

 

Title:

President 

 

 

 


 

Index to Exhibits

 

Exhibit No.

Description

Sequentially
Numbered Page

4.1

Pooling and Servicing Agreement, dated as of January 1, 2006, by and among Nomura Home Equity Loan, Inc., as Depositor, Nomura Credit & Capital, Inc., as Sponsor, Equity One, Inc., as Servicer, Wells Fargo Bank, National Association, as Securities Administrator and Master Servicer and HSBC Bank USA, National Association, as Trustee relating to the Series 2006-FM1 Certificates.

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