GCG, Inc. Provides Notice Regarding the Proposed Countrywide RMBS Settlement

By Gcg Inc., PRNE
Monday, July 18, 2011

LAKE SUCCESS, New York, July 19, 2011 -


The following statement is being issued by GCG, Inc. regarding
the proposed Countrywide RMBS Settlement.

NOTICE OF A SPECIAL PROCEEDING AND PROPOSED SETTLEMENT
BETWEEN THE BANK OF NEW YORK MELLON, AS TRUSTEE OR INDENTURE
TRUSTEE, AND BANK OF AMERICA CORPORATION, COUNTRY
WIDE HOME
LOANS, INC., COUNTRYWIDE FINANCIAL CORPORATION, AND BAC HOME LOANS
SERVICING, LP

NOTICE IS HEREBY GIVEN TO THE HOLDERS OF CERTIFICATES OR
NOTES (”CERTIFICATEHOLDERS”) UNDER THE 530 COUNTRYWIDE
MORTGAGE-SECURITIZATION TRUSTS LISTED IN EXHIBIT A
(”
TRUSTS”) AND OTHER PERSONS POTENTIALLY INTERESTED IN THE
TRUSTS. THIS NOTICE CONTAINS IMPORTANT INFORMATION FOR
CERTIFICATEHOLDERS AND OTHER PERSONS POTENTIALLY INTERESTED IN THE
TRUSTS.

IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER
INTERMEDIARIES
RECEIVING THIS NOTICE ARE REQUESTED TO
EXPEDITE RETRANSMITTAL TO CERTIFICATEHOLDERS IN A TIMELY
MANNER.

This notice (the “Notice”) is given to you by The Bank of New
York Mellon (”Trustee”), as trustee or indenture trustee under the
Pooling and Servicing Agreements and Indentures and related Sales
and Servicing Agreements (collectively, the “Governing Agreements”)
governing the Trusts.

A settlement has been reached between the Trustee, on the one
hand, and Countrywide Home Loans, Inc. (”CHL”), Countrywide
Financial Corporation (together with CHL, “Countrywide”), Bank of
America Corporation (”BAC”), and BAC Home Loans Servicing, LP,
formerly known as Countrywide Home Loans Servicing, LP (”BAC HLS,”
and together with BAC, “Bank of America”), on the other, concerning
CHL’s alleged breaches of representations and warranties in the
Governing Agreements, and BAC HLS’s alleged violations of prudent
servicing obligations thereunder (the “Settlement”). The Settlement
requires Bank of America and/or Countrywide to pay a total of
US$8,500,000,000.00 (US$8.5 billion) into the Trusts (the
“Settlement Payment”). It also requires BAC HLS to implement, among
other things, a series of loan servicing procedures and
improvements. The Trustee has filed a Verified Petition and
commenced a special proceeding, In the matter of the application
of The Bank of New York Mellon
(Index No. 651786/2011), in the
Supreme Court of the State of New York, County of New York (the
“Court”) seeking a judgment, among other things, approving the
Settlement and ordering that the Settlement is binding on all
Certificateholders. The Settlement Agreement is attached to the
Verified Petition as Exhibit B.

The Court has scheduled a hearing on the Verified Petition for
November 17, 2011 at 2:15 p.m. at the Supreme Court of the State of
New York
, County of New York, 60 Centre Street, New York, New York
10007. The Court has the right to change the hearing date or time
without further notice. At the hearing, the Court will determine,
among other things, whether to approve the Settlement and make it
binding on all Certificateholders, and will consider other
important matters described in the Settlement Agreement. The
Settlement, if approved by the Court, will affect the rights and
interests of all Certificateholders, and their
successors-in-interests and assigns, in the Trusts, including by,
among other things, releasing claims on behalf of the Trustee, the
Trusts and all Certificateholders in the Trusts and their
successors-in-interests and assigns arising out of or relating to
(i) the origination, sale, or delivery of mortgages to the Trusts,
including representations and warranties made with respect to those
mortgages and any mortgage repurchase obligations, (ii) servicing
of the mortgages in the Trusts, with certain exceptions, and (iii)
documentation of the mortgages in the Trusts, with certain
exceptions. (See the Settlement Agreement for a complete
description of the releases provided for therein.)

Any Certificateholder or other person potentially interested in
the Trusts may object to any aspect of the Settlement and request
to be heard at the hearing by submitting a written notice prior to
the hearing in the manner explained in the Court’s Order dated June
29, 2011
(the “Preliminary Order”). The Court has directed that any
objections to the Settlement must be filed with the Court and
served upon the Trustee’s counsel by August 30, 2011, and that any
(i) responses to objections, or (ii) submissions in favor of or
with respect to the Settlement, must be filed and served by October
31, 2011
. (Further information regarding the methodology for filing
and serving papers is contained in the Preliminary Order and
available as explained below.) If the Court approves the
Settlement, all Certificateholders will be bound by the Settlement
and the releases contained in the Settlement Agreement whether or
not they appeared in the matter or submitted any objection to the
Settlement. The Court has ordered that anyone who fails to object
in the manner described in the Preliminary Order shall be deemed to
have waived the right to object (including any right of appeal) and
shall be forever barred from raising such objection before the
Court or in any other action or proceeding, unless the Court orders
otherwise. The Court has ordered that it retains jurisdiction over
the Trustee, the Trusts and all Certificateholders (and their
successors-in-interests, assigns or transferees, whether past,
present or future) for all matters related to the Settlement and
the special proceeding commenced by the Trustee seeking approval of
the Settlement.

This Notice summarizes the special proceeding and the Settlement
and is not a complete statement of the special proceeding or the
Settlement. The Verified Petition, any papers filed in support of
the Verified Petition, any orders entered by the Court in the
special proceeding and other information relevant to the special
proceeding are available at href="www.cwrmbssettlement.com">www.cwrmbssettlement.com,
which will be updated when additional papers are filed or
additional orders are entered in the special proceeding. You should
also be able to obtain any documents filed with the Court by
visiting the Court’s website:
iapps.courts.state.ny.us/iscroll/. If you have any
questions, you may call (866) 294-7876 in the United States, +1
(614) 569-0289 outside the United States, or send an email to href="mailto:Questions@cwrmbssettlement.com">Questions@cwrmbssettlement.com.

Inquiries should NOT be directed to the Trustee, the Court, or
the Clerk of the Court.

MISCELLANEOUS

Certificateholders and other persons potentially interested in
the Trusts should not rely on the Trustee, or on counsel or other
advisors retained by the Trustee, as their sole source of
information. The Trustee neither makes any recommendation generally
nor otherwise gives any investment advice herein.

                                 EXHIBIT A

    CWALT             CWALT 2005-J6     CWHL              CWHL 2007-HY3
    CWALT 2004-10CB   CWALT 2005-J7     CWHL 2004-10      CWHL 2007-HY4
    CWALT 2004-12CB   CWALT 2005-J8     CWHL 2004-11      CWHL 2007-HY5
    CWALT 2004-13CB   CWALT 2005-J9     CWHL 2004-12      CWHL 2007-HY6
    CWALT 2004-14T2   CWALT 2006-11CB   CWHL 2004-13      CWHL 2007-HY7
    CWALT 2004-15     CWALT 2006-12CB   CWHL 2004-14      CWHL 2007-HYB1
    CWALT 2004-16CB   CWALT 2006-13T1   CWHL 2004-15      CWHL 2007-HYB2
    CWALT 2004-17CB   CWALT 2006-14CB   CWHL 2004-16      CWHL 2007-J1
    CWALT 2004-18CB   CWALT 2006-15CB   CWHL 2004-18      CWHL 2007-J2
    CWALT 2004-20T1   CWALT 2006-16CB   CWHL 2004-19      CWHL 2007-J3
    CWALT 2004-22CB   CWALT 2006-17T1   CWHL 2004-2       CWHL 2008-1
    CWALT 2004-24CB   CWALT 2006-18CB   CWHL 2004-20      CWL
    CWALT 2004-25CB   CWALT 2006-19CB   CWHL 2004-21      CWL 2004-1
    CWALT 2004-26T1   CWALT 2006-20CB   CWHL 2004-22      CWL 2004-10
    CWALT 2004-27CB   CWALT 2006-21CB   CWHL 2004-23      CWL 2004-11
    CWALT 2004-28CB   CWALT 2006-23CB   CWHL 2004-24      CWL 2004-12
    CWALT 2004-29CB   CWALT 2006-24CB   CWHL 2004-25      CWL 2004-13
    CWALT 2004-2CB    CWALT 2006-25CB   CWHL 2004-29      CWL 2004-14
    CWALT 2004-30CB   CWALT 2006-26CB   CWHL 2004-3       CWL 2004-15
    CWALT 2004-32CB   CWALT 2006-27CB   CWHL 2004-4       CWL 2004-2
    CWALT 2004-33     CWALT 2006-28CB   CWHL 2004-5       CWL 2004-3
    CWALT 2004-34T1   CWALT 2006-29T1   CWHL 2004-6       CWL 2004-4
    CWALT 2004-35T2   CWALT 2006-2CB    CWHL 2004-7       CWL 2004-5
    CWALT 2004-36CB   CWALT 2006-30T1   CWHL 2004-8       CWL 2004-6
    CWALT 2004-3T1    CWALT 2006-31CB   CWHL 2004-9       CWL 2004-7
    CWALT 2004-4CB    CWALT 2006-32CB   CWHL 2004-HYB1    CWL 2004-8
    CWALT 2004-5CB    CWALT 2006-33CB   CWHL 2004-HYB2    CWL 2004-9
    CWALT 2004-6CB    CWALT 2006-34     CWHL 2004-HYB3    CWL 2004-AB1
    CWALT 2004-7T1    CWALT 2006-35CB   CWHL 2004-HYB4    CWL 2004-AB2
    CWALT 2004-8CB    CWALT 2006-36T2   CWHL 2004-HYB5    CWL 2004-BC2
    CWALT 2004-9T1    CWALT 2006-39CB   CWHL 2004-HYB6    CWL 2004-BC3
    CWALT 2004-J10    CWALT 2006-40T1   CWHL 2004-HYB7    CWL 2004-BC4
    CWALT 2004-J11    CWALT 2006-41CB   CWHL 2004-HYB8    CWL 2004-BC5
    CWALT 2004-J12    CWALT 2006-42     CWHL 2004-HYB9    CWL 2004-ECC1
    CWALT 2004-J13    CWALT 2006-43CB   CWHL 2004-J2      CWL 2004-ECC2
    CWALT 2004-J2     CWALT 2006-45T1   CWHL 2004-J3      CWL 2004-S1
    CWALT 2004-J3     CWALT 2006-46     CWHL 2004-J4      CWL 2004-SD2
    CWALT 2004-J4     CWALT 2006-4CB    CWHL 2004-J5      CWL 2004-SD3
    CWALT 2004-J5     CWALT 2006-5T2    CWHL 2004-J6      CWL 2004-SD4
    CWALT 2004-J6     CWALT 2006-6CB    CWHL 2004-J7      CWL 2005-1
    CWALT 2004-J7     CWALT 2006-7CB    CWHL 2004-J8      CWL 2005-10
    CWALT 2004-J8     CWALT 2006-8T1    CWHL 2004-J9      CWL 2005-11
    CWALT 2004-J9     CWALT 2006-9T1    CWHL 2005-1       CWL 2005-12
    CWALT 2005-10CB   CWALT 2006-HY10   CWHL 2005-10      CWL 2005-13
    CWALT 2005-11CB   CWALT 2006-HY11   CWHL 2005-11      CWL 2005-14
    CWALT 2005-13CB   CWALT 2006-HY12   CWHL 2005-12      CWL 2005-15
    CWALT 2005-14     CWALT 2006-HY13   CWHL 2005-13      CWL 2005-16
    CWALT 2005-16     CWALT 2006-HY3    CWHL 2005-14      CWL 2005-17
    CWALT 2005-17     CWALT 2006-J1     CWHL 2005-15      CWL 2005-2
    CWALT 2005-18CB   CWALT 2006-J2     CWHL 2005-16      CWL 2005-3
    CWALT 2005-19CB   CWALT 2006-J3     CWHL 2005-17      CWL 2005-4
    CWALT 2005-1CB    CWALT 2006-J4     CWHL 2005-18      CWL 2005-5
    CWALT 2005-2      CWALT 2006-J5     CWHL 2005-2       CWL 2005-6
    CWALT 2005-20CB   CWALT 2006-J6     CWHL 2005-20      CWL 2005-7
    CWALT 2005-21CB   CWALT 2006-J7     CWHL 2005-21      CWL 2005-8
    CWALT 2005-22T1   CWALT 2006-J8     CWHL 2005-22      CWL 2005-9
    CWALT 2005-23CB   CWALT 2006-OA1    CWHL 2005-23      CWL 2005-AB1
    CWALT 2005-24     CWALT 2006-OA10   CWHL 2005-24      CWL 2005-AB2
    CWALT 2005-25T1   CWALT 2006-OA11   CWHL 2005-25      CWL 2005-AB3
    CWALT 2005-26CB   CWALT 2006-OA12   CWHL 2005-26      CWL 2005-AB4
    CWALT 2005-27     CWALT 2006-OA14   CWHL 2005-27      CWL 2005-AB5
    CWALT 2005-28CB   CWALT 2006-OA16   CWHL 2005-28      CWL 2005-BC1
    CWALT 2005-29CB   CWALT 2006-OA17   CWHL 2005-29      CWL 2005-BC2
    CWALT 2005-30CB   CWALT 2006-OA18   CWHL 2005-3       CWL 2005-BC3
    CWALT 2005-31     CWALT 2006-OA19   CWHL 2005-30      CWL 2005-BC4
    CWALT 2005-32T1   CWALT 2006-OA2    CWHL 2005-31      CWL 2005-BC5
    CWALT 2005-33CB   CWALT 2006-OA21   CWHL 2005-5       CWL 2005-HYB9
    CWALT 2005-34CB   CWALT 2006-OA22   CWHL 2005-6       CWL 2005-IM1
    CWALT 2005-35CB   CWALT 2006-OA3    CWHL 2005-7       CWL 2005-IM2
    CWALT 2005-36     CWALT 2006-OA6    CWHL 2005-9       CWL 2005-IM3
    CWALT 2005-37T1   CWALT 2006-OA7    CWHL 2005-HYB10   CWL 2005-SD1
    CWALT 2005-38     CWALT 2006-OA8    CWHL 2005-HYB1    CWL 2005-SD2
    CWALT 2005-3CB    CWALT 2006-OA9    CWHL 2005-HYB2    CWL 2005-SD3
    CWALT 2005-4      CWALT 2006-OC1    CWHL 2005-HYB3    CWL 2006-1
    CWALT 2005-40CB   CWALT 2006-OC10   CWHL 2005-HYB4    CWL 2006-10
    CWALT 2005-41     CWALT 2006-OC11   CWHL 2005-HYB5    CWL 2006-11
    CWALT 2005-42CB   CWALT 2006-OC2    CWHL 2005-HYB6    CWL 2006-12
    CWALT 2005-43     CWALT 2006-OC3    CWHL 2005-HYB7    CWL 2006-13
    CWALT 2005-44     CWALT 2006-OC4    CWHL 2005-HYB8    CWL 2006-14
    CWALT 2005-45     CWALT 2006-OC5    CWHL 2005-J1      CWL 2006-15
    CWALT 2005-46CB   CWALT 2006-OC6    CWHL 2005-J2      CWL 2006-16
    CWALT 2005-47CB   CWALT 2006-OC7    CWHL 2005-J3      CWL 2006-17
    CWALT 2005-48T1   CWALT 2006-OC8    CWHL 2005-J4      CWL 2006-18
    CWALT 2005-49CB   CWALT 2006-OC9    CWHL 2006-1       CWL 2006-19
    CWALT 2005-50CB   CWALT 2007-10CB   CWHL 2006-10      CWL 2006-2
    CWALT 2005-51     CWALT 2007-11T1   CWHL 2006-11      CWL 2006-20
    CWALT 2005-52CB   CWALT 2007-12T1   CWHL 2006-12      CWL 2006-21
    CWALT 2005-53T2   CWALT 2007-13     CWHL 2006-13      CWL 2006-22
    CWALT 2005-54CB   CWALT 2007-14T2   CWHL 2006-14      CWL 2006-23
    CWALT 2005-55CB   CWALT 2007-15CB   CWHL 2006-15      CWL 2006-24
    CWALT 2005-56     CWALT 2007-16CB   CWHL 2006-16      CWL 2006-25
    CWALT 2005-57CB   CWALT 2007-17CB   CWHL 2006-17      CWL 2006-26
    CWALT 2005-58     CWALT 2007-18CB   CWHL 2006-18      CWL 2006-3
    CWALT 2005-59     CWALT 2007-19     CWHL 2006-19      CWL 2006-4
    CWALT 2005-60T1   CWALT 2007-1T1    CWHL 2006-20      CWL 2006-5
    CWALT 2005-61     CWALT 2007-20     CWHL 2006-21      CWL 2006-6
    CWALT 2005-62     CWALT 2007-21CB   CWHL 2006-3       CWL 2006-7
    CWALT 2005-63     CWALT 2007-22     CWHL 2006-6       CWL 2006-8
    CWALT 2005-64CB   CWALT 2007-23CB   CWHL 2006-8       CWL 2006-9
    CWALT 2005-65CB   CWALT 2007-24     CWHL 2006-9       CWL 2006-ABC1
    CWALT 2005-66     CWALT 2007-25     CWHL 2006-HYB1    CWL 2006-BC1
    CWALT 2005-67CB   CWALT 2007-2CB    CWHL 2006-HYB2    CWL 2006-BC2
    CWALT 2005-69     CWALT 2007-3T1    CWHL 2006-HYB3    CWL 2006-BC3
    CWALT 2005-6CB    CWALT 2007-4CB    CWHL 2006-HYB4    CWL 2006-BC4
    CWALT 2005-70CB   CWALT 2007-5CB    CWHL 2006-HYB5    CWL 2006-BC5
    CWALT 2005-71     CWALT 2007-6      CWHL 2006-J1      CWL 2006-IM1
    CWALT 2005-72     CWALT 2007-7T2    CWHL 2006-J2      CWL 2006-QH1
    CWALT 2005-73CB   CWALT 2007-8CB    CWHL 2006-J3      CWL 2006-SD1
    CWALT 2005-74T1   CWALT 2007-9T1    CWHL 2006-J4      CWL 2006-SD2
    CWALT 2005-75CB   CWALT 2007-AL1    CWHL 2006-OA4     CWL 2006-SD3
    CWALT 2005-76     CWALT 2007-HY2    CWHL 2006-OA5     CWL 2006-SD4
    CWALT 2005-77T1   CWALT 2007-HY3    CWHL 2006-TM1     CWL 2006-SPS1
    CWALT 2005-79CB   CWALT 2007-HY4    CWHL 2007-1       CWL 2006-SPS2
    CWALT 2005-7CB    CWALT 2007-HY6    CWHL 2007-10      CWL 2007-1
    CWALT 2005-80CB   CWALT 2007-HY7C   CWHL 2007-11      CWL 2007-10
    CWALT 2005-81     CWALT 2007-HY8C   CWHL 2007-12      CWL 2007-11
    CWALT 2005-82     CWALT 2007-HY9    CWHL 2007-13      CWL 2007-12
    CWALT 2005-83CB   CWALT 2007-J1     CWHL 2007-14      CWL 2007-13
    CWALT 2005-84     CWALT 2007-J2     CWHL 2007-15      CWL 2007-2
    CWALT 2005-85CB   CWALT 2007-OA10   CWHL 2007-16      CWL 2007-3
    CWALT 2005-86CB   CWALT 2007-OA11   CWHL 2007-17      CWL 2007-4
    CWALT 2005-9CB    CWALT 2007-OA2    CWHL 2007-18      CWL 2007-5
    CWALT 2005-AR1    CWALT 2007-OA3    CWHL 2007-19      CWL 2007-6
    CWALT 2005-IM1    CWALT 2007-OA4    CWHL 2007-2       CWL 2007-7
    CWALT 2005-J1     CWALT 2007-OA6    CWHL 2007-20      CWL 2007-8
    CWALT 2005-J10    CWALT 2007-OA7    CWHL 2007-21      CWL 2007-9
    CWALT 2005-J11    CWALT 2007-OA8    CWHL 2007-3       CWL 2007-BC1
    CWALT 2005-J12    CWALT 2007-OA9    CWHL 2007-4       CWL 2007-BC2
    CWALT 2005-J13    CWALT 2007-OH1    CWHL 2007-5       CWL 2007-BC3
    CWALT 2005-J14    CWALT 2007-OH2    CWHL 2007-6       CWL 2007-SD1
    CWALT 2005-J2     CWALT 2007-OH3    CWHL 2007-7       CWL 2007-SEA1
    CWALT 2005-J3     CWHEL             CWHL 2007-8       CWL 2007-SEA2
    CWALT 2005-J4     CWHEL 2006-A      CWHL 2007-9
    CWALT 2005-J5     CWHEL 2007-G      CWHL 2007-HY1

Jeanne Finegan, GCG, Inc., +1-503-906-5301

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