Mayer Brown acted for the Hong Kong Mortgage Corporation on its first international transaction, which is the acquisition of South Korean residential mortgage assets worth US$700 million from a Korean commercial bank.  This deal was notable as the first-ever "bilateral" cross-border RMBS securitisation out of Korea under Korean's ABS Act.  The Hong Kong Mortgage Corporation is considered to be the "Fannie Mae" of Hong Kong.  It is triple-A rated and Hong Kong's biggest securitiser.