Item 1. Business.
Omitted.
Item 1A.
Item 1A. Risk Factors.
Omitted.
Item 1B.
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 2.
Item 2. Properties.
Omitted.
Item 3.
Item 3. Legal Proceedings.
Omitted.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
Omitted.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Omitted.
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
Omitted.
Item 9A.
Item 9A. Controls and Procedures.
Omitted.
Item 9A(T). Controls and Procedures.
Omitted.
Item 9B.
Item 9B. Other Information.
None.
PART III
Item 10.
Item 10. Directors, Executive Officers and Corporate Governance.
Omitted.
Item 11.
Item 11. Executive Compensation.
Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Omitted.
Item 13.
Item 13. Certain Relationships and Related Transactions, and Director Independence.
Omitted.
Item 14.
Item 14. Principal Accounting Fees and Services.
Omitted.
ADDITIONAL DISCLOSURE ITEMS FOR REGULATION AB
Item 1112(b) of Regulation AB, Significant Obligor Financial Information.
No single obligor represents 10% or more of the pool assets held by the issuing entity.
Item 1114(b)(2) of Regulation AB, Credit Enhancement and Other Support, Except For Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers Financial Information).
Financial Security Assurance Inc. provides a credit enhancement for the trust in the form of a certificate guaranty insurance policy as disclosed in the 424(b)(5) Prospectus filed on May 11, 2007 and May 21, 2007. Financial Security Assurance Inc. agrees that all consolidated financial statements of Financial Security Assurance Inc. and subsidiaries included in documents filed by Financial Security Assurance Holdings Ltd. from time to time with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended from time to time, may be incorporated by reference into this Form 10-K, solely to the extent required under Regulation AB.
Ambac Assurance Corporation provides credit enhancement for the trust in the form of a certificate guaranty insurance policy as disclosed in the 424(b)(5) Prospectus filed on May 11, 2007 and May 21, 2007. Ambac Assurance Corporation hereby consents to the incorporation by reference of all consolidated financial statements of Ambac Assurance Corporation and subsidiaries included in documents filed by Ambac Financial Group, Inc. with the Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, into this Form 10-K to the extent required under Regulation AB.
Item 1115(b) of Regulation AB, Certain Derivatives Instruments (Financial Information).
Nomura Global Financial Products, Inc. provides an interest rate cap derivative instrument for the trust as disclosed in the 424(b)(5) Prospectus filed on May 11, 2007 and May 21, 2007. No additional disclosure is necessary because the significance percentage for the cap derivative instrument is less than 10%.
Wachovia Bank, N.A. provides an interest rate swap derivative instrument for the trust as disclosed in the 424(b)(5) Prospectus filed on May 11, 2007 and May 21, 2007. No additional disclosure is necessary because the significance percentage for the swap derivative instrument is less than 10%.
Item 1117 of Regulation AB, Legal Proceedings.
Ambac Assurance Corporation
Ambac Assurance Corporation has received a subpoena duces tecum and interrogatories from the Securities Division of the Office of the Secretary of the Commonwealth of Massachussetts, dated January 18, 2008, that seeks information and documents related to disclosures made by Ambac Assurance Corporation to Massachussetts municipal issuers regarding its exposures to mortgage-backed securities and collaterized debt obligations.
Item 1119 of Regulation AB, Affiliations and Certain Relationships and Related Transactions.
The information regarding this Item has been previously disclosed in a 424(b)(5) Prospectus filed on May 11, 2007 and May 21, 2007.
Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.
The reports on assessment of compliance with the servicing criteria for asset-backed securities and the related attestation reports on such assessments of compliance are attached hereto under Item 15.
Item 15. Exhibits, Financial Statement Schedules.
(a) Exhibits.
(4) The Pooling and Servicing Agreement, dated as of April 1, 2007, among Nomura Asset Acceptance Corporation as depositor, Nomura Credit & Capital, Inc. as sponsor, GMAC Mortgage, LLC as servicer, Wells Fargo Bank, National Association as master servicer and securities administrator and HSBC Bank USA, National Association as trustee (incorporated herein by reference from Exhibit 4.1 of the Current Report on form 8-K of the registrant as filed with the commission).
(10) See Exhibit (4) of Item 15(a) above.
(31) Rule 13a-14(d)/15d-14(d) Certification.
(33) Reports on assessment of compliance with servicing criteria for asset-backed securities.
(34) Attestation reports on assessment of compliance with servicing criteria for asset-backed securities.
(35) Servicer compliance statement.
(b) See Exhibits identified in paragraph (a) of Item 15 above.
(c) Omitted.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2007-1 (Issuing Entity)
Wells Fargo Bank, N.A. (Master Servicer)
/s/ Molly Yackel Molly Yackel, Vice President (senior officer in charge of the servicing function of the master servicer)
Date: March 27, 2008
Exhibit Index
Exhibit No.
(4) The Pooling and Servicing Agreement, dated as of April 1, 2007, among Nomura Asset Acceptance Corporation as depositor, Nomura Credit & Capital, Inc. as sponsor, GMAC Mortgage, LLC as servicer, Wells Fargo Bank, National Association as master servicer and securities administrator and HSBC Bank USA, National Association as trustee (incorporated herein by reference from Exhibit 4.1 of the Current Report on form 8-K of the registrant as filed with the commission).
(10) See Exhibit (4) of Item 15(a) above.
(31) Rule 13a-14(d)/15d-14(d) Certification.
(33) Reports on assessment of compliance with servicing criteria for asset-backed securities.
(34) Attestation reports on assessment of compliance with servicing criteria for asset-backed securities.
(35) Servicer compliance statement.