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GENERAL STRUCTURE
MONGOLBANK BANKS(Originator)
BORROWERS
SPC(Issuer)
INVESTOR
Loan Mortgage
loan
Mortgage pool
RMBS
MIK(Founder)
Establish
3
PARTIES
MONGOLBANK Originator (BANKS)
BORROWER (criteria)
SPC
INVESTOR
Mortgage Loan
Mortgage pool
RMBS
FRC
STATE REGISTRATION
Registration, license
Special registration
TRUSTEEAgreement
SPC BOARDManagement, supervision
AUDITAgreement
CLEARING HOUSE
RMBS registration
LAWYERAgreement
SERVICER
Servicing Agreement
Loan
4
LICENSE AND REGISTRATION
MONGOLBANK BANKS
SPC
INVESTOR
Structure, criteria
Mortgage pool
RMBS
FRC
STATE REGISTRATION
Registration, license
Special registration
CLEARING HOUSE
RMBS registration
BORROWER
SPC BOARD
Pledge registration
Satisfy FRC
criteria
Special permissio
n
TRUSTEE
AUDIT
FRC registration
LAWYERFRC registration
5
ESTABLISHMENT AND REGISTRATION OF SPC
MIK (Founder)
SPC(Issuer)
1 SPC for each
issuance
FRC
STATE REGISTRATION
Satisfied criteria
Law requirements
SPC BOARDSelected
Agreement
TRUSTEE
AUDIT
Agreement
LAWYERAgreement
INVESTOR
Agreement
6
SPC OPERATION
SERVICER
SPC
INVESTOR
Servicing
Report
FRC
STATE REGISTRATIO
N
Report
Special registration
ҮЦТТ
RMBS payment
RMBS payment
BORROWER
SPC BOARD
TRUSTEE
AUDIT
LAWYER
Asset manageme
nt
Supervision
AUDIT
Legal opinion
Mortgage repayme
nt
7
Mortgage pool ХӨРӨНГӨ ХУДАЛДАХ ҮЙЛ АЖИЛЛАГАА
SPC BOARD
SPC
BANK 1
BANK 2
ХУДАЛДАХ
ХУДАЛДАН АВАХ ГЭЭЭ
BANK 3
RMBS 1
RMBS 2
ҮНЭТ ЦААСНЫ
ТАНИЛЦУУЛГА, БУСАД
БИЧИГ БАРИМТ
RMBS 3
88
Үнэт цаасжуулалтын үйл ажиллагаанд ашиглагдах гэрээний тухай
Transaction documents
1. Sale and Purchase Agreement of Mortgages
2. Servicing Agreement
3. Transaction Administrator Agreement
Issuance documents
1. Trust deed
2. Subscription Agreement
3. RMBS Clearing and Saving Agreement
4. Security documents
a) Charge
b) Charge over Collections Account
c) Assignment of the Contractual Rights
5. Trust Account Servicing Agreement
6. Collection Account Servicing Agreement
If needed:
7. RMBS Transfer Agreemnt
9
BANKS(Originator)
“SPC”(Issuer)
MIK(Transaction
Administrator)
Sale and Purchase
Agreement of
Mortgages
Transaction Administra
tor Agreement
Transaction documents
Servicing Agreemen
t
After FRC approval
After getting Special permission from FRC
10
SPC(Issuer)
MIK(Transaction
Administrator)
Sale and Purchase
Agreement of
Mortgages
Transaction Administrator Agreement
Transaction documents(Sale and Purchase Agreement of
Mortgages)
BANK 1(Originator)
BANKS 3-9(Originator)
BANK 2(Originator)
Aggregate PortfolioEstablishes after Mortgages purchase from all originators
11
BANKS(RMBS Holder)
SPC(Issuer)
MIK(TRUSTEE)
Subscription Agreement
Trust Deed
CLEARING HOUSE
(Payment Agent)
ХББХТТГГ
Issuance documents
After FRC approval
After getting Special permission from FRC
After getting Special permission from FRC
After FRC approval
MONGOLBANK(RMBS Holder)
Subscription Agreement
MIK(Security Agent)
After FRC approval
12
“SPC”(Issuer)
MIK(TRUSTEE)
Issuance documents(Trust Deed)
Aggregate PortfolioEstablishes after Mortgages purchase from all originators
Trust Deed
BANKS(RMBS Holder)
Subscription Agreement
MONGOLBANK(RMBS Holder)
Subscription Agreement
MIK(Security Agent)
Security Document
13
BANKS(RMBS Holder)
SPC(Issuer)
MIK(TRUSTEE)
Subscription Agreement
Trust Deed
CLEARING HOUSE
(Payment Agent)
ХББХТТГГ
Issuance documents
After FRC approval
After getting Special permission from FRC
After getting Special permission from FRC
After FRC approval
MONGOLBANK(RMBS Holder)
Subscription Agreement
MIK(Security Agent)
After FRC approval
14
SPC(Issuer)
Issuance documents(Subscription Agreement)
BANKS(RMBS Holder)
Subscription Agreement
MONGOLBANK(RMBS Holder)
Subscription Agreement
MIK(Security Agent)
15
SPC(Issuer)
Charge Charge over Collections Account Assignment of Contractual Rights
Security Document
MIK(Security Agent)