Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer], does hereby certify that the assessment of compliance to be delivered by [the Servicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer (the “Servicer”), Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as servicer and as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer] [Name of Subservicer/Subcontractor], does hereby certify that the assessment of compliance to be delivered by [the Servicer] [Name of Subservicer/Subcontractor] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION [NAME OF THE SERVICER] [NAME OF SUBSERVICER/SUBCONTRACTOR] Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage CorporationAurora Loan Services LLC, as servicer (the “Servicer”), Aurora Loan Services LLC, ) and as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2006-1)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx (SAIL LXS 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as servicer and as master servicer, and acknowledged by U.S. Bank National AssociationCitibank, N.A., as Trustee, relating to the issuance of the Structured Asset Investment Loan Xxxxxx XS Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer] [Name of Subservicer/Subcontractor], does hereby certify that the assessment of compliance to be delivered by [the Servicer] [Name of Subservicer/Subcontractor] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION [NAME OF THE SERVICER] [NAME OF SUBSERVICER/SUBCONTRACTOR] Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL LXS 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage CorporationAurora Loan Services LLC, as servicer (the “Servicer”), Aurora Loan Services LLC, ) and as master servicer, and acknowledged by U.S. Bank National AssociationCitibank, N.A., as Trustee, relating to the issuance of the Structured Asset Investment Loan Xxxxxx XS Trust Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 900 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. XxxxxxxHxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 600 XXX Xxxxxxx current members should select option 3; XxxxxAxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx Axxxx the local bureau to contact about setting XxxxxxxCxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 300 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx Jxxxxx X. Xxxxxx (SAIL LMT 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Lxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as servicer and as master servicer, and acknowledged by U.S. Bank National AssociationCitibank, N.A., as Trustee, relating to the issuance of the Structured Asset Investment Loan Lxxxxx Mortgage Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer] [Name of Subservicer/Subcontractor], does hereby certify that the assessment of compliance to be delivered by [the Servicer] [Name of Subservicer/Subcontractor] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx mxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION [NAME OF THE SERVICER] [NAME OF SUBSERVICER/SUBCONTRACTOR] Date: ______________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 300 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 XxxxxxxxxExxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL LMT 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Lxxxxx Brothers Holdings Inc., Option One Mortgage CorporationAurora Loan Services LLC, as servicer (the “Servicer”), Aurora Loan Services LLC, ) and as master servicer, and acknowledged by U.S. Bank National AssociationCitibank, N.A., as Trustee, relating to the issuance of the Structured Asset Investment Loan Lxxxxx Mortgage Trust Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 for all inquiries. Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 EXECUTION February 1, 2004 Ocwen Federal Bank FSB The Forum, Suite 1002 0000 Xxxx Xxxxx Xxxxx Xxxxxxxxx Xxxxx Xxxx Xxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx XX 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006Secretary Re: Sub-1) Reference is made to that certain servicing agreementServicing Side Letter Agreement, dated as of January February 1, 2006 2004 To the Addressee Listed Above: Reference is hereby made to the Ocwen Securitization Servicing Agreement (SASCO 2004-S1) dated as of February 1, 2004 (the “AgreementOSSA”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Ocwen Federal Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer], does hereby certify that the assessment of compliance to be delivered by [the Servicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage CorporationFSB, as servicer (the “Servicer”), Xxxxxx Brothers Holdings Inc., as seller (the “Seller”), and Aurora Loan Services LLCInc., as master servicer, servicer (the “Master Servicer”) and acknowledged by U.S. Bank National AssociationCitibank, N.A., as trustee (the “Trustee, relating ”). Defined terms used herein and not defined herein shall have the meanings ascribed thereto in the OSSA. This letter shall govern the terms and confirm our agreement and understanding concerning the servicing of certain Mortgage Loans listed on Schedule I hereto (which Schedule may be amended from time to time to include additional mortgage loans which may be transferred to the issuance Servicer) (the “Sub-serviced Mortgage Loans”), under the OSSA. It is expressly understood that the provisions of this Side Letter shall only apply to Sub-serviced Mortgage Loans and to the extent this Side Letter is in conflict with the provisions of the Structured Asset Investment Loan Trust OSSA, it shall supercede the OSSA, but only with respect to Sub-serviced Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:Loans.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2004-S1)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 November 1, 2003 Ocwen Federal Bank FSB The Forum, Suite 1002 0000 Xxxx Xxxxx Xxxxx Xxxxxxxxx Xxxxx Xxxx Xxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx XX 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006Secretary Re: Sub-1) Reference is made to that certain servicing agreementServicing Side Letter Agreement, dated as of January November 1, 2006 2003 To the Addressee Listed Above: Reference is hereby made to the Ocwen Securitization Servicing Agreement (SAIL 2003-BC12) dated as of November 1, 2003 (the “AgreementOSSA”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Ocwen Federal Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer], does hereby certify that the assessment of compliance to be delivered by [the Servicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage CorporationFSB, as servicer (the “Servicer”), Xxxxxx Brothers Holdings Inc., as seller (the “Seller”), and Aurora Loan Services LLCInc., as master servicer, servicer (the “Master Servicer”). Defined terms used herein and acknowledged by U.S. Bank National Association, as Trustee, relating not defined herein shall have the meanings ascribed thereto in the OSSA. This letter shall govern the terms and confirm our agreement and understanding of the manner in which the Servicing Fees for certain Mortgage Loans listed on Schedule I hereto (which Schedule may be amended from time to time to include additional mortgage loans which are transferred to the issuance Servicer) (the “Sub-serviced Mortgage Loans”), are to be paid by the Servicer. It is expressly understood that the provisions of this letter shall only apply to the Structured Asset Investment Loan Trust Sub-serviced Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:Loans.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage CorporationXxxxx Fargo Bank, N.A., as servicer, Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer] [Name of Subservicer/Subcontractor], does hereby certify that the assessment of compliance to be delivered by [the Servicer] [Name of Subservicer/Subcontractor] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION [NAME OF THE SERVICER] [NAME OF SUBSERVICER/SUBCONTRACTOR] Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: Securities Administrator: Master Servicer: Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: Interest Rate Cap Counterparty: Servicer(s): Originator(s): Custodian(s): Seller: EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator (SAIL 2006-1) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer (the “Servicer”), Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name of Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 900 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. XxxxxxxHxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 600 XXX Xxxxxxx current members should select option 3; XxxxxAxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx Axxxx the local bureau to contact about setting XxxxxxxCxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx (SAIL 2006-1) Reference is made to that certain servicing agreement, dated as of January 1, 2006 (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporation, as servicer, Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1. This certification is delivered pursuant to Section [__] of the Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Agreement. [_______], the undersigned, a duly authorized [_______] of [the Servicer], does hereby certify that the assessment of compliance to be delivered by [the Servicer] The Subservicer shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx mxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. X 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. X 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. X Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria X 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. X 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. X 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. X 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. X 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. X 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. X Servicing Criteria Applicable Servicing Criteria Reference Criteria Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the ServicerSubservicer. X 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. X 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the ServicerSubservicer’s investor records, or such other number of days specified in the transaction agreements. X 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. X Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. X 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements X 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria X 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the ServicerSubservicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. X 1122(d)(4)(v) The ServicerSubservicer’s records regarding the mortgage loans agree with the ServicerSubservicer’s records with respect to an obligor’s unpaid principal balance. X 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. X 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. X 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). X 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. X Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. X 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. X 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. X 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. X 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. X 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION Date: _________________________ By: ________________________________ Name: Title: EXHIBIT I TRANSACTION PARTIES Trustee: U.S. Bank National Association Securities Administrator: Master Servicer: Aurora Loan Services LLC Credit Risk Manager: PMI Insurer(s): Interest Rate Swap Counterparty: IXIS Financial Products Inc. Interest Rate Cap Counterparty: Servicer(s): Servicer: Aurora Loan Services LLC Subservicer: GMAC Mortgage Corporation Third Party Subservicer: Originator(s): Countrywide Home Loans, Inc. and GreenPoint Mortgage Funding, Inc. Custodian(s): U.S. Bank National Association Seller: Lxxxxx Brothers Holdings Inc. EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] To: Aurora Loan Services LLC 000 300 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Mail Stop 3199 Xxxxxxxxx, Xxxxxxxx 00000 Attention: Compliance Coordinator Jxxxxx X. Xxxxxx (SAIL SASCO 2006-1GP2) RE: Annual officer’s certificate delivered pursuant to Section 5.03 5.05 of that certain securitization servicing agreement, dated as of January May 1, 2006 (the “Agreement”), by and among Xxxxxx Lxxxxx Brothers Holdings Inc., Option One GMAC Mortgage Corporation, as subservicer (the “Subservicer”), Aurora Loan Services LLC, as servicer (the “Servicer”), and Aurora Loan Services LLC, as master servicerservicer (the “Master Servicer”), and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-1 GP2 [_______], the undersigned, a duly authorized [_______] of [the Servicer][Name Subservicer][Name of Third Party Subservicer], does hereby certify the following for the [calendar year][identify other period] ending on December 31, 20[__]:
Appears in 1 contract
Samples: Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp2)
Company Telephone Number. Consumer Credit Associates, Inc. Call (000) 000-0000, either extension 000 Xxxxxxxxxxxx Xxxxxx, Xxxxx 000 150, 101, or 112, for all inquiries. Xxxxxxx, Xxxxx 00000-0000 Equifax Members that have an account number may call their local sales representative for all inquiries; lenders that need to set up an account should call (000) 000-0000 and select the customer assistance option. TRW Information Systems & Services Call (000) 000-0000 for all inquiries, 000 XXX Xxxxxxx current members should select option 3; Xxxxx, Xxxxx 00000 lenders that need to set up an account should select Option 4. Trans Union Corporation Call (000) 000-0000 to get the name of 555 West Xxxxx the local bureau to contact about setting Xxxxxxx, Xxxxxxxx 00000 up an account or obtaining other information. 11/20/95 F-2 EXHIBIT H FORM OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT ON ASSESSMENT OF COMPLIANCE G-1 EXHIBIT 5.04 CUSTODIAL ACCOUNT LETTER AGREEMENT ______________ __, ____ To: Aurora Loan Services LLC 000 Xxxxxxxxx Xxxxx Xxxxx, 0xx Xxxxx Xxxxxxxxx, Xxxxxxxx 00000 Attention: Xxxxxx X. Xxxxxx ____________________ ____________________ ____________________ (SAIL 2006-1the “Depository”) Reference is made to that certain servicing agreement, As Servicer under the Reconstituted Servicing Agreement dated as of January May 1, 2006 2007 (the “Agreement”), by we hereby authorize and among Xxxxxx Brothers Holdings Inc.request you to establish an account, Option One as a Custodial Account pursuant to Section 5.04 of the Agreement, to be designated as “PHH Mortgage Corporation, as servicerin trust for Xxxxx Fargo Bank, Aurora Loan Services LLCN.A., as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating to the issuance of the Structured Asset Investment Loan Trust Trustee for Xxxxxx Mortgage Pass-Through CertificatesTrust, Series 20062007-15.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Servicer. This certification letter is delivered pursuant submitted to Section [__] of the Agreementyou in duplicate. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the AgreementPlease execute and return one original to us. [PHH MORTGAGE CORPORATION Servicer By:_______], the undersigned, a duly authorized [_______] of [the Servicer]______________ Name: Title: The undersigned, does as Depository, hereby certify certifies that the assessment of compliance to be delivered by [the Servicer] shall addressabove described account has been established under Account Number __________, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”, as identified by a xxxx in the column titled “Applicable Servicing Criteria”: Servicing Criteria Applicable Servicing Criteria Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained. 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms office of the transaction agreements. Cash Collection and Administration 1122(d)(2)(i) Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributionsDepository indicated above, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect agrees to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. Investor Remittances and Reporting 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. Pool Asset Administration 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Servicing Criteria Applicable Servicing Criteria Reference Criteria 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(v) The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(ix) Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents. 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest honor withdrawals on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreementsaccount as provided above. 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission. 1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. OPTION ONE MORTGAGE CORPORATION Date_______________________________ Depository By: ____________________________ ByName: Title: EXHIBIT G-2 EXHIBIT 5.06 ESCROW ACCOUNT LETTER AGREEMENT ______________ ___, ____ To: _______________________ _______________________ _______________________ (the “Depository”) As Servicer under the Reconstituted Servicing Agreement dated as of May 1, 2007 (the “Agreement”), we hereby authorize and request you to establish an account, as an Escrow Account pursuant to Section 5.06 of the Agreement, to be designated as “PHH Mortgage Corporation, in trust for Xxxxx Fargo Bank, N.A., as Trustee for Xxxxxx Mortgage Trust, Series 2007-5.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Servicer. This letter is submitted to you in duplicate. Please execute and return one original to us. PHH MORTGAGE CORPORATION Servicer By:_____________________________ Name: Title: Date: The undersigned, as Depository, hereby certifies that the above described account has been established under Account Number __________, at the office of the Depository indicated above, and agrees to honor withdrawals on such account as provided above. _______________________________ Depository By: ____________________________ Name: Title: EXHIBIT I G-3 EXHIBIT 14 TRANSACTION PARTIES Depositor: Structured Asset Securities Corporation Trustee: Xxxxx Fargo Bank, N.A. Securities Administrator: N/A Master Servicer: Aurora Loan Services LLC Credit Risk Manager: N/A PMI Insurer(s): N/A Interest Rate Swap Counterparty: N/A Interest Rate Cap Counterparty: Xxxxxx Brothers Special Financing Inc. Servicer(s): Aurora Loan Services LLC, IndyMac Bank, F.S.B., Countrywide Home Loans Servicing, LP, GreenPoint Mortgage Funding, Inc., National City Mortgage Co., PHH Mortgage Corporation and Colonial Savings, F.A. Primary Originator(s): Sovereign Bank, FSB, National City Mortgage Co., IndyMac Bank, F.S.B. and Xxxxxx Brothers Bank, FSB. Custodian(s): Deutsche Bank National Trust Company, LaSalle Bank National Association, Xxxxx Fargo Bank, N.A. and U.S. Bank National Association Sponsor and Seller: Xxxxxx Brothers Holdings, Inc. EXHIBIT J FORM OF ANNUAL OFFICER’S CERTIFICATE Via Overnight Delivery [DATE] G-4 EXHIBIT 15 CUSTODIAL ACCOUNT CERTIFICATION NOTICE May __, 2007 To: Aurora Loan Services LLC 000 Xxxxxxxxx 00000 Xxxx Xxxxxxx Xxxxx Xxxxx Mail Stop 3199 XxxxxxxxxLittleton, Xxxxxxxx 00000 Colorado 80124 Attention: Compliance Coordinator Xxxxxx X. Xxxxxx (SAIL 2006LMT 2007-15) RE: Annual officer’s certificate delivered pursuant to Section 5.03 of that certain servicing agreement, As Servicer under the Reconstituted Servicing Agreement dated as of January May 1, 2006 2007 among PHH Mortgage Corporation, as Servicer, Xxxxxx Brothers Holdings Inc., as Seller and you, as Master Servicer, and as acknowledged by Xxxxx Fargo Bank, N.A. (the “Agreement”), by and among Xxxxxx Brothers Holdings Inc., Option One Mortgage Corporationwe hereby certify to you that we have established an account at [insert name of financial institution], as servicer (the “Servicer”), Aurora Loan Services LLC, as master servicer, and acknowledged by U.S. Bank National Association, as Trustee, relating a Custodial Account pursuant to the issuance of the Structured Asset Investment Loan Trust Mortgage Pass-Through CertificatesAgreement, Series 2006-1 to be designated as “[____________], in trust for Xxxxx Fargo Bank, N.A., as Trustee for Xxxxxx Mortgage Trust Mortgage Pass Through Certificates Series 2007-5.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Servicer. PHH MORTGAGE CORPORATION By: Name: Title: The undersigned, a duly authorized [as Depository, hereby certifies that the above described account has been established under Account Number _______] ___, at the office of [the Servicer][Name Depository indicated above, and agrees to honor withdrawals on such account as provided above. ___________________________________ Depository By:_____________________________ Name: Title: Date: EXHIBIT H-1 EXHIBIT 16 FORM OF MONTHLY REMITTANCE ADVICE FIELD NAME DESCRIPTION FORMAT INVNUM INVESTOR LOAN NUMBER Number no decimals SERVNUM SERVICER LOAN NUMBER, REQUIRED Number no decimals BEGSCHEDBAL BEGINNING SCHEDULED BALANCE FOR SCHED/SCHED Number two decimals BEGINNING TRAIL BALANCE FOR ACTUAL/ACTUAL, REQUIRED SCHEDPRIN SCHEDULED PRINCIPAL AMOUNT FOR SCHEDULED/SCHEDULED Number two decimals ACTUAL PRINCIPAL COLLECTED FOR ACTUAL/ACTUAL, REQUIRED, .00 IF NO COLLECTIONS CURT1 CURTAILMENT 1 XXXXXX, .00 IF NOT APPLICABLE Number two decimals CURT1DATE CURTAILMENT 1 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY CURT1ADJ CURTAILMENT 1 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals CURT2 CURTAILMENT 2 XXXXXX, .00 IF NOT APPLICABLE Number two decimals CURT2DATE CURTAILMENT 2 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY CURT2ADJ CURTAILMENT 2 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals LIQPRIN PAYOFF, LIQUIDATION PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals OTHPRIN OTHER PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals PRINREMIT TOTAL PRINCIPAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals INTREMIT NET INTEREST REMIT, INCLUDE PAYOFF INTEREST, Number two decimals .00 IF NOT APPLICABLE TOTREMIT TOTAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals ENDSCHEDBAL ENDING SCHEDULED BALANCE FOR SCHEDULED/SCHEDULED Number two decimals ENDING TRIAL BALANCE FOR ACTUAL/ACTUAL .00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF ENDACTBAL ENDING TRIAL BALANCE Number two decimals .00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF ENDDUEDATE ENDING ACTUAL DUE DATE, NOT LAST PAID INSTALLMENT DD-MMM-YY ACTCODE 60 IF PAIDOFF, BLANK IF NOT APPLICABLE Number no decimals ACTDATE ACTUAL PAYOFF DATE, BLANK IF NOT APPLICABLE DD-MMM-YY INTRATE INTEREST RATE, REQUIRED Number seven decimals Example .0700000 for 7.00% SFRATE SERVICE FEE RATE, REQUIRED Number seven decimals Example .0025000 for .25% PTRATE PASS THRU RATE, REQUIRED Number seven decimals Example .0675000 for 6.75% PIPMT P&I CONSTANT, REQUIRED Number two decimals .00 IF PAIDOFF EXHIBIT H-2 EXHIBIT 17 STANDARD LAYOUT FOR MONTHLY DEFAULTED LOAN REPORT FIELD NAME DESCRIPTION % of Subservicer]MI Coverage % of MI Coverage Actual MI Claim Filed Date The date the Claim to the MI Company was filed Actual Bankruptcy Start Date (filing date) Actual Bankruptcy Start Date (filing date) Actual Claim Amount Filed The amount claimed to the MI company on the MI claim Actual Discharge Date Date Bankruptcy was Discharged Actual Due Date Next Payment Due Date Actual Eviction Complete Date Actual Eviction Complete Date Actual Eviction Start Date Actual Eviction Start Date Actual First Legal Date Actual First Legal Date Actual Notice of Intent Date (breach letter date) Actual Notice of Intent Date (breach letter date) Actual Payment Plan End Date The date the Last Pre-petition payment is due from the Trustee in a chapter 13 BK Actual Payment Plan Start Date The date the First Pre-petition payment is due from the Trustee in a chapter 13 BK Actual Redemption End Date Actual Redemption End Date Actual REO Start Date The date the account was received by the REO Department Appraisal, does hereby certify the following BPO Costs Total expenses incurred for the [calendar year][identify other period] ending on December 31purpose of BPO's or Appraisals. Bankruptcy Chapter Bankruptcy Chapter 7,11,13 BK Atty Fees & Costs BK Atty Fees & Costs BK Flag (Man Code) A code that identifies the account as an active Bankruptcy. Bnk Case # (7 digit only) Bnk Case # (7 digit only) City City Claim Amount Paid MI Claim Amount Claim Funds Received Date The date the MI Claim funds were received from the MI Company Confirmation Hearing Date Confirmation Hearing Date Current Interest Rate Current Interest Rate Current Loan Amount Unpaid Principal Balance Current P&I Payment Amount Current P&I Payment Amount Date Bid Instructions Sent Date Bid Instructions Sent to Attorney Date F/C Sale Scheduled The date the Foreclosure sale is scheduled to occur. Date Filed Relief/Dismissal The date the motion for Relief or Dismissal was filed with the BK Court Date Loan Reinstated Date Loan Reinstated Date POC Filed Date proof of claim filed Date Relief/Dismissal Granted The date the BK court granted the motion for Relief or Dismissal Date REO Offer Accepted Date REO Offer Accepted Date REO Offer Received Date REO Offer Received Deal Identifier by Loan Security Name/Cross reference Investor ID (Servicer to Cross reference) Delinquency Status (Man Code) 30, 20[__]:60, 90, BK, FC, REO, Claims or a code that can be decoded to determine the current status of the account.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5)
