8-K 1 new_8k.htm RASC 2007-EMX1 - 8K OPERATIVE DOCS

UNITED STATES

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): March 27, 2007

 

RESIDENTIAL ASSET SECURITIES CORPORATION,

on behalf of the RASC Series 2007-EMX1 Trust

(Exact name of registrant as specified in its charter)

 

Delaware

 

333-131209-16

 

51-0362653

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer
Identification No.)

 

8400 Normandale Lake Boulevard, Suite 250
Minneapolis, Minnesota

 

55437

(Address of principal executive office)

 

(Zip Code)

 

(952) 857-7000

(Registrant's telephone number, including area code )

 

 

N/A

(Former name or address, if changed since last report)

 

 

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 communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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

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))

 

Information to be Included in the Report

 

Section 8 – Other Events.

 

ITEM 8.01. Other Events.

 

On March 12, 2007, Residential Asset Securities Corporation caused the issuance and sale of the Residential Asset Securities Corporation Home Equity Mortgage Asset-Backed Pass-Through Certificates, Series 2007-EMX1, pursuant to a Pooling and Servicing Agreement dated as of February 1, 2007 among Residential Asset Securities Corporation, as depositor, Residential Funding Company, LLC, as master servicer and the U.S. Bank National Association, as trustee. The mortgage loans were sold to Residential Asset Securities Corporation pursuant to an Assignment and Assumption Agreement, dated as of March 12, 2007 between Residential Funding Company, LLC and Residential Asset Securities Corporation.

Section 9 – Financial Statements and Exhibits

 

ITEM 9.01 (d). Exhibits.

 

The following execution copies of Exhibits to the Form S-3 Registration Statement of the Registrant are hereby filed.

 

10.1

Pooling and Servicing Agreement, dated as of February 1, 2007 among Residential Asset Securities Corporation, as depositor, Residential Funding Company, LLC, as master servicer and U.S. Bank National Association, as trustee.

 

 

 

 

10.2

Assignment and Assumption Agreement, dated as of March 12, 2007, between Residential Funding Company, LLC and Residential Asset Securities Corporation.

 

 

 

 

10.3

Swap Confirmation (including the Schedule and Credit Support Annex), dated as of March 12, 2007, between U.S. Bank National Association, as supplemental interest trust trustee on behalf of the RASC Series 2007-EMX1 Supplemental Interest Trust and Bear Stearns Financial Products Inc.

 

 

 

 

10.4

The Financial Guaranty Insurance Policy, dated as of March 12, 2007, Policy No. 07030010, issued by Financial Guaranty Insurance Company.

 

 

 

 

99.1

Mortgage Loan Schedule.

 

 

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 hereunto duly authorized.

RESIDENTIAL ASSET SECURITIES CORPORATION

 

By: /s/Tim Jacobson                                            

 

Name:  Tim Jacobson

 

Title:    Vice President

 

 

Dated: March 27, 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit Index

 

 

Exhibit No.

Description

 

 

10.1

Pooling and Servicing Agreement, dated as of March 12, 2007, among Residential Asset Securities Corporation, as depositor, Residential Funding Company, LLC, as master servicer and the U.S. Bank National Association, as trustee.

 

 

10.2

Assignment and Assumption Agreement, dated as of March 12, 2007, between Residential Funding Company, LLC and Residential Asset Securities Corporation.

 

 

10.3

Swap Confirmation (including the Schedule and Credit Support Annex), dated as of March 12, 2007, between U.S. Bank National Association, as supplemental interest trust trustee on behalf of the RASC Series 2007-EMX1 Supplemental Interest Trust and Bear Stearns Financial Products Inc.

 

 

10.4

The Financial Guaranty Insurance Policy, dated as of March 12, 2007, Policy No. 07030010, issued by Financial Guaranty Insurance Company.

 

 

99.1

Mortgage Loan Schedule.