Bank of America in the Sale of its Securitization Trust Administration Business

Cleary Gottlieb represented Bank of America in the sale of its domestic and European-based securitization trust administration business to U.S. Bank. Under the deal, Bank of America transferred its appointments under 2,153 active securitization and related transactions, more than 2.4 million residential mortgage files and 84,000 commercial mortgage files, and $1.1 trillion in assets under administration. The deal closed on December 30.