Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule: (A) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note; ii) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”; iv) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee; vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank; vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same; viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-5), Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the "Custodial File"):
(Ai) the original Mortgage Note of the Mortgagor Note, endorsed in blank or in the name of the Trustee or endorsed “following form: "Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee under the applicable agreement, without recourse” and signed in the name of the last named endorsee by an authorized officer, together ," with all prior and intervening endorsements showing a complete chain of endorsements endorsement from the originator of the related Mortgage Loan to the last endorsee or (B) with respect Person so endorsing to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage NoteTrustee;
(ii) the original Mortgage bearing with evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (orof recording thereon, in lieu of and the original recorded power of attorney, if the Mortgage or the assignment thereof, was executed pursuant to a duplicate or conformed copy power of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
iv) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignmentattorney, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samethereon;
v(iii) an original of any related security agreement Assignment in blank;
(if such item is a document separate from iv) the Mortgage) and the originals of any intervening assignments thereof original recorded Assignment or Assignments showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneePerson assigning the Mortgage to the Trustee as contemplated by the immediately preceding clause (iii);
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
viiv) the originals original or copies of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable any; and
(or, in lieu of vi) the original of any such agreementlender's title insurance policy, a duplicate together with all endorsements or conformed copy riders that were issued with or subsequent to the issuance of such agreement together with a certificate of receipt from policy, insuring the related Seller or the settlement agent who handled the closing priority of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been as a first or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where second lien on the Mortgaged Property is located), or represented therein as a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of fee interest vested in the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property event such original title policy is located as determined by DLJMC (or, in lieu thereofunavailable, a duplicate written commitment or conformed copy uniform binder or preliminary report of such instrument, together with title issued by the title insurance or escrow company. With respect to a certificate maximum of receipt from the related Seller or the settlement agent who handled the closing approximately 2.00% of the Mortgage LoanLoans, certifying that such copy(ies) represent true and complete copy(ies) by outstanding Stated Principal Balance of the original(sMortgage Loans as of the Cut-off Date, if any original Mortgage Note referred to in Section 2(i) and that above cannot be located, the obligations of the Depositor to deliver such original(s) have been or are currently submitted documents shall be deemed to be recorded satisfied upon delivery to the Custodian of a photocopy of such Mortgage Note, if available, with a lost note affidavit substantially in the appropriate governmental recording office form of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant Exhibit H attached to the Pooling and Servicing Agreement, an Officer’s Certificate . If any of the Seller is original Mortgage Notes for which a lost note affidavit was delivered to the Trustee because Custodian is subsequently located, such original Mortgage Note shall be delivered to the Custodian within three Business Days. Notwithstanding the foregoing, the Assignments of Mortgage shall not be required to be submitted for recording (except with respect to any Mortgage Loan located in Maryland and Florida) unless the Depositor is informed by the Rating Agencies that such failure to record would result in a withdrawal or a downgrading by any Rating Agency of the rating on any Class of Certificates; provided, however, each Assignment shall be submitted in the manner described above, at no expense to the Trust Fund or the Trustee, upon the earliest to occur of: (i) reasonable direction by the Holders of Certificates entitled to at least 25% of the Voting Rights, (ii) the occurrence of a delay caused by Servicer Event of Default, (iii) the public recording office in returning any recorded documentoccurrence of a bankruptcy, the Trustee shall deliver such Officer’s Certificate insolvency or foreclosure relating to the Custodian. The Trustee shall direct Originator, (iv) the Custodian to deliver written notice to each Rating Agency, occurrence of a servicing transfer as such term is defined described in Section 7.02 of the Pooling and Servicing Agreement, within 360 days (v) upon receipt of notice from the Closing Date indicating each Servicer, the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under the related Mortgage and (vi) upon receipt of notice from the Servicer, any Mortgage Loan that is 90 days or more delinquent. Upon the occurrence of one of the events set forth in the immediately preceding sentence, the Depositor shall (a) which give prompt written notice to the Custodian of such event and (b) at the expense of the Originator, deliver such Assignments for recording as provided above, promptly and in any event within 30 days following receipt of notice by the Servicer. If any of the documents referred to in Sections 2(ii), (iii) or (iv) above has, as of the Closing Date, been submitted for recording but either (x) has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgagedocument, the obligations of the Depositor to deliver such documents shall be deemed to be satisfied upon (1) delivery to the Custodian of a copy of each such document certified by the Originator in the case of (x) above or the applicable public recording office in the case of (y) above to be a true and complete copy of the original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the original. Such notice All original documents relating to the Mortgage Loans that are not delivered to the Trustee or the Custodian are and shall be held by or on behalf of the Originator, the Seller, the Depositor or the Servicer, as the case may be, in trust for the benefit of the Trustee on behalf of the Certificateholders. In the event that any such original document is required pursuant to the terms of this Section 2 to be a part of a Custodial File, such document shall be delivered every 90 days thereafter until the related Mortgage is returned promptly to the Custodian. From time Any such original document delivered to time, or held by the Servicers shall forward or shall cause Depositor that is not required pursuant to the terms of this Section to be forwarded a part of a Custodial File, shall be delivered promptly to the Servicer. The Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms hereby agrees to its duties under Section 2.03 of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Qualified Substitute Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust Inc Series 2005-Opt2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2005-Opt1)
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to May 31, 2006 (the Delivery Date "Closing Date") the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ , without recourse” " and signed in the name of the last named endorsee (the "Last Endorsee") by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by "[Last Endorsee], successor by merger to [name of predecessor]". If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by "[Last Endorsee], formerly known as [previous name]";
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “"[Seller], successor by merger to [name of predecessor]”, and in the event that ". If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “"[Seller], formerly known as [previous name]”;
iv) The ". With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policy. In or, in the event thatsuch original title policy is unavailable, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate a certified true copy of the Seller is delivered related policy binder or commitment for title certified to the Trustee because of a delay caused be true and complete by the public recording office title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance connection with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall Mortgage; and
(i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty Co-op Loan: (30i) days after the receipt thereof. The Custodian shall maintain a copy of each the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the Custodial File. DLJMC shall be responsible for the fees and expenses recognition agreement of the Trustee in connection with this paragraph. At least 24 hours prior to delivery interests of the Mortgage Loansmortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the Depositor will provide stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or cause photocopy of such power certified by the Seller to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans true and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard correct copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Scheduleoriginal.
Appears in 2 contracts
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to July 31, 2007 (the Delivery Date “Closing Date”) the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “Pay to the order of ________________ , without recourse” and signed in the name of the last named endorsee (the “Last Endorsee”) by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by “[Last Endorsee], successor by merger to [name of predecessor]”. If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by “[Last Endorsee], formerly known as [previous name]”;
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “[Seller], successor by merger to [name of predecessor]”, and in the event that . If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “[Seller], formerly known as [previous name]”;
iv) The . With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policyor, in the event such original title policy is unavailable, a certified true copy of the related policy binder or commitment for title certified to be true and complete by the title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage; and
(i) with respect to any Co-op Loan: (i) a copy of the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by the Seller to be a true and correct copy of the original. In the event that, pursuant any document required to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is be delivered to the Trustee because Custodian in the Custodial Agreement, including an original or copy of any document submitted for recordation to the appropriate public recording office, is not so delivered to the Custodian, or to such other Person as the Purchaser shall designate in writing, within 180 days following the Closing Date (other than with respect to the Assignments of Mortgage which shall be delivered to the Custodian in blank and recorded subsequently by the Purchaser or its designee), and in the event that the Seller does not cure such failure within 30 days of discovery or receipt of written notification of such failure from the Purchaser, the related Mortgage Loan shall, upon the request of the Purchaser, be repurchased by the Seller at the price and in the manner specified in Subsection 9.03 of the Purchase Agreement. The foregoing repurchase obligation shall not apply in the event that the Seller cannot deliver an original document submitted for recordation to the appropriate public recording office within the specified period due to a delay caused by the public recording office in returning any recorded documentthe applicable jurisdiction; provided that the Seller shall instead deliver a recording receipt of such recording office or, if such recording receipt is not available, an officer’s certificate of a servicing officer of the Seller, confirming that such documents have been accepted for recording; provided that, upon request of the Purchaser and delivery by the Purchaser to the Seller of a schedule of the Mortgage Loans, the Trustee Seller shall reissue and deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office Purchaser or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodianits designee said officer’s certificate. From time to time, the Servicers Seller shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanSeller, in accordance with the terms of the Pooling and Servicing related Purchase Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to timeAt the request of the Purchaser, the Trustee Seller shall instruct or cause submit for recording at the instruction sole expense of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansSeller, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Sections 2(e) and (iiif) cause above; provided, however, that the assignments referred to in Section 2(e) shall not be delivered recorded for recording in the appropriate public office Mortgages for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received Mortgaged Property is located in California (unless required by the information required to prepare Purchaser). In the event that any such Assignment assignment is lost or returned unrecorded because of Mortgage in recordable forma defect therein, the Trustee’s obligation Seller shall promptly prepare a substitute assignment to do so cure such defect and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of thereafter cause each such assignment in the Custodial Fileto be duly recorded. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours On or prior to delivery of the Mortgage Loans, Closing Date the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data Seller shall be delivered deliver to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard a copy of the Mortgage Loan Schedule will be delivered in an electronic, machine readable medium on a form mutually acceptable to the Custodian at Seller and the time of delivery Custodian. Notwithstanding anything to the Custodian contrary contained in this Section 2, in those instances where the public recording office retains or loses the original Mortgage or assignment after it has been recorded, the obligations of the Seller shall be deemed to have been satisfied upon delivery by the Seller to the Purchaser or its designee prior to the Closing Date of a copy of such documents related Mortgage or assignment, as the case may be, certified (such certification to be an original thereof) by the Mortgage Loans identified in such Mortgage Loan Schedulepublic recording office to be a true and complete copy of the recorded original thereof.
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2007-12)
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to October 31, 2007 (the Delivery Date “Closing Date”) the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “Pay to the order of ________________ , without recourse” and signed in the name of the last named endorsee (the “Last Endorsee”) by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by “[Last Endorsee], successor by merger to [name of predecessor]”. If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by “[Last Endorsee], formerly known as [previous name]”;
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “[Seller], successor by merger to [name of predecessor]”, and in the event that . If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “[Seller], formerly known as [previous name]”;
iv) The . With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policyor, in the event such original title policy is unavailable, a certified true copy of the related policy binder or commitment for title certified to be true and complete by the title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage; and
(i) with respect to any Co-op Loan: (i) a copy of the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by the Seller to be a true and correct copy of the original. In the event that, pursuant any document required to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is be delivered to the Trustee because Custodian in the Custodial Agreement, including an original or copy of any document submitted for recordation to the appropriate public recording office, is not so delivered to the Custodian, or to such other Person as the Purchaser shall designate in writing, within 180 days following the Closing Date (other than with respect to the Assignments of Mortgage which shall be delivered to the Custodian in blank and recorded subsequently by the Purchaser or its designee), and in the event that the Seller does not cure such failure within 30 days of discovery or receipt of written notification of such failure from the Purchaser, the related Mortgage Loan shall, upon the request of the Purchaser, be repurchased by the Seller at the price and in the manner specified in Section 3 of the Purchase Agreement. The foregoing repurchase obligation shall not apply in the event that the Seller cannot deliver an original document submitted for recordation to the appropriate public recording office within the specified period due to a delay caused by the public recording office in returning any recorded documentthe applicable jurisdiction; provided that the Seller shall instead deliver a recording receipt of such recording office or, if such recording receipt is not available, an officer’s certificate of a servicing officer of the Seller, confirming that such documents have been accepted for recording; provided that, upon request of the Purchaser and delivery by the Purchaser to the Seller of a schedule of the Mortgage Loans, the Trustee Seller shall reissue and deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office Purchaser or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodianits designee said officer’s certificate. From time to time, the Servicers Seller shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanSeller, in accordance with the terms of the Pooling and Servicing related Purchase Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to timeAt the request of the Purchaser, the Trustee Seller shall instruct or cause submit for recording at the instruction sole expense of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansSeller, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Sections 2(e) and (iiif) cause above; provided, however, that the assignments referred to in Section 2(e) shall not be delivered recorded for recording in the appropriate public office Mortgages for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received Mortgaged Property is located in California (unless required by the information required to prepare Purchaser). In the event that any such Assignment assignment is lost or returned unrecorded because of Mortgage in recordable forma defect therein, the Trustee’s obligation Seller shall promptly prepare a substitute assignment to do so cure such defect and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of thereafter cause each such assignment in the Custodial Fileto be duly recorded. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours On or prior to delivery of the Mortgage Loans, Closing Date the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data Seller shall be delivered deliver to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard a copy of the Mortgage Loan Schedule will be delivered in an electronic, machine readable medium on a form mutually acceptable to the Custodian at Seller and the time of delivery Custodian. Notwithstanding anything to the Custodian contrary contained in this Section 2, in those instances where the public recording office retains or loses the original Mortgage or assignment after it has been recorded, the obligations of the Seller shall be deemed to have been satisfied upon delivery by the Seller to the Purchaser or its designee prior to the Closing Date of a copy of such documents related Mortgage or assignment, as the case may be, certified (such certification to be an original thereof) by the Mortgage Loans identified in such Mortgage Loan Schedulepublic recording office to be a true and complete copy of the recorded original thereof.
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to September 28, 2007 (the Delivery Date “Closing Date”) the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “Pay to the order of ________________ , without recourse” and signed in the name of the last named endorsee (the “Last Endorsee”) by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by “[Last Endorsee], successor by merger to [name of predecessor]”. If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by “[Last Endorsee], formerly known as [previous name]”;
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “[Seller], successor by merger to [name of predecessor]”, and in the event that . If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “[Seller], formerly known as [previous name]”;
iv) The . With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policyor, in the event such original title policy is unavailable, a certified true copy of the related policy binder or commitment for title certified to be true and complete by the title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage; and
(i) with respect to any Co-op Loan: (i) a copy of the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the recognition agreement of the interests of the mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power certified by the Seller to be a true and correct copy of the original. In the event that, pursuant any document required to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is be delivered to the Trustee because Custodian in the Custodial Agreement, including an original or copy of any document submitted for recordation to the appropriate public recording office, is not so delivered to the Custodian, or to such other Person as the Purchaser shall designate in writing, within 180 days following the Closing Date (other than with respect to the Assignments of Mortgage which shall be delivered to the Custodian in blank and recorded subsequently by the Purchaser or its designee), and in the event that the Seller does not cure such failure within 30 days of discovery or receipt of written notification of such failure from the Purchaser, the related Mortgage Loan shall, upon the request of the Purchaser, be repurchased by the Seller at the price and in the manner specified in Subsection 9.03 of the Purchase Agreement. The foregoing repurchase obligation shall not apply in the event that the Seller cannot deliver an original document submitted for recordation to the appropriate public recording office within the specified period due to a delay caused by the public recording office in returning any recorded documentthe applicable jurisdiction; provided that the Seller shall instead deliver a recording receipt of such recording office or, if such recording receipt is not available, an officer’s certificate of a servicing officer of the Seller, confirming that such documents have been accepted for recording; provided that, upon request of the Purchaser and delivery by the Purchaser to the Seller of a schedule of the Mortgage Loans, the Trustee Seller shall reissue and deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office Purchaser or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodianits designee said officer’s certificate. From time to time, the Servicers Seller shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanSeller, in accordance with the terms of the Pooling and Servicing related Purchase Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to timeAt the request of the Purchaser, the Trustee Seller shall instruct or cause submit for recording at the instruction sole expense of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansSeller, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Sections 2(e) and (iiif) cause above; provided, however, that the assignments referred to in Section 2(e) shall not be delivered recorded for recording in the appropriate public office Mortgages for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received Mortgaged Property is located in California (unless required by the information required to prepare Purchaser). In the event that any such Assignment assignment is lost or returned unrecorded because of Mortgage in recordable forma defect therein, the Trustee’s obligation Seller shall promptly prepare a substitute assignment to do so cure such defect and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of thereafter cause each such assignment in the Custodial Fileto be duly recorded. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours On or prior to delivery of the Mortgage Loans, Closing Date the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data Seller shall be delivered deliver to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard a copy of the Mortgage Loan Schedule will be delivered in an electronic, machine readable medium on a form mutually acceptable to the Custodian at Seller and the time of delivery Custodian. Notwithstanding anything to the Custodian contrary contained in this Section 2, in those instances where the public recording office retains or loses the original Mortgage or assignment after it has been recorded, the obligations of the Seller shall be deemed to have been satisfied upon delivery by the Seller to the Purchaser or its designee prior to the Closing Date of a copy of such documents related Mortgage or assignment, as the case may be, certified (such certification to be an original thereof) by the Mortgage Loans identified in such Mortgage Loan Schedulepublic recording office to be a true and complete copy of the recorded original thereof.
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2007-13)
Delivery of Custodial Files. The Depositor will deliver and release or Company shall cause to be delivered and released to the Custodian on the Delivery at least two (2) Business Days prior to each Closing Date the following original documents pertaining to each of the related Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule annexed hereto as Exhibit 9 as amended on each --------- Closing Date (such information shall also be delivered to the Custodian on computer readable magnetic tape or disk):
(Aa) the The original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ without recourse” " and signed in the name of the last named endorsee Company by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or officer (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan was acquired by the Company in a merger, the assignment signature must be by “in the following form: "[SellerCompany], successor by merger to [name of predecessor]”, "; and in the event that the Mortgage Loan was acquired or originated by the related Seller Company while doing business under another name, the assignment signature must be by “in the following form: "[SellerCompany], formerly known as [previous name]”");
iv(b) The original of any intervening assignment of guarantee executed in connection with the Mortgage not included in Note (iiiif any);
(c) above, including any warehousing assignmentThe original Mortgage, with evidence of recording thereon (or, thereon. If in lieu of the original of connection with any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy the Company cannot deliver or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted cause to be recorded in delivered the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate thereon on or conformed copy of such agreement together with a certificate of receipt from prior to the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee Closing Date because of a delay caused by the public recording office in returning any where such Mortgage has been delivered for recordation or because such Mortgage has been lost or because such public recording office retains the original recorded documentMortgage, the Trustee Company shall deliver such Officer’s Certificate or cause to be delivered to the Custodian. The Trustee shall direct , a photocopy of such Mortgage, together with (i) in the case of a delay caused by the public recording office, an Officer's Certificate of the Company stating that such Mortgage has been dispatched to the appropriate public recording office for recordation and that the original recorded Mortgage or a copy of such Mortgage certified by such public recording office to be a true and complete copy of the original recorded Mortgage will be promptly delivered to the Custodian to deliver written notice to each Rating Agency, as such term is defined upon receipt thereof by the Company; or (ii) in the Pooling case of a Mortgage where a public recording office retains the original recorded Mortgage or in the case where a Mortgage is lost after recordation in a public recording office, a copy of such Mortgage certified by such public recording office or by the title insurance company that issued the title policy to be a true and Servicing Agreementcomplete copy of the original recorded Mortgage;
(d) The originals of all assumption, within 360 days from the Closing Date indicating modification, consolidation or extension agreements, with evidence of recording thereon;
(e) The original Assignment of Mortgage for each Mortgage Loan, in form and substance acceptable for recording in blank. If the Mortgage Loan was acquired by the Company in a merger, the Assignment of Mortgage must be made by "[Company], successor by merger to [name of predecessor]." If the Mortgage Loan was acquired or originated by the Company while doing business under another name, the Assignment of Mortgage must be by "[Company], formerly known as [previous name];"
(af) which Originals of all intervening assignments of the Mortgage with evidence of recording thereon, or if any such intervening assignment has not been returned from the applicable recording office or has been lost or if such public recording office retains the original recorded assignments of mortgage, the Company shall deliver or cause to be delivered to the Custodian, a photocopy of such intervening assignment, together with (i) in the case of a delay caused by the public recording office, an Officer's Certificate of the Company stating that such intervening assignment of mortgage has been dispatched to the appropriate public recording office for recordation and that such original recorded intervening assignment of mortgage or a copy of such intervening assignment of mortgage certified by the appropriate public recording office or by the title insurance company that issued the title policy to be a true and complete copy of the original recorded intervening assignment of mortgage will be promptly delivered to the Custodian upon receipt thereof by the Company; or (bii) as to which there in the case of an intervening assignment where a public recording office retains the original recorded intervening assignment or in the case where an intervening assignment is lost after recordation in a dispute as to location or status public recording office, a copy of such intervening assignment certified by such public recording office to be a true and complete copy of the original recorded intervening assignment;
(g) The original limited liability lender's title insurance policy;
(h) Any security agreement, chattel mortgage or equivalent executed in connection with the Mortgage. Such notice shall be delivered every 90 days thereafter until ; and
(i) Copies of all mortgage loan documents for the related Mortgage is returned to the CustodianFirst Lien mortgage loan. From time to time, the Servicers Company shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanCompany, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “"Custodial File”". From time to time-------------- The Company shall promptly, the Trustee shall instruct upon request or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee direction by Purchaser, submit for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loansrecording, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Section 2(e) and (iiif) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Scheduleabove.
Appears in 1 contract
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii(b) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samesame and in the case of each MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN of the related Mortgage Loan and either language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan or if the Mortgage Loan was not a MOM Loan at origination, the original Mortgage and the assignment thereof to MERS, with evidence of recording indicated thereon or a copy of the Mortgage certified by the public recording office in which such Mortgage has been recorded;
iii(c) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
iv(d) The original for each Mortgage Loan, at any time that such Mortgage Loan is not a MERS Mortgage Loan, the originals of any all intervening assignment Assignments of the Mortgage not included in (iii) aboveabove showing a complete chain of assignment from the originator of such Mortgage Loan to the Person assigning the Mortgage to the Trustee, including any warehousing assignment, with evidence of recording thereon on each such Assignment of Mortgage (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v(e) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi(f) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii(g) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(h) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of copy(ies)of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix(i) in the case of the First Mortgage Loans, the original mortgage title insurance policy, or if such mortgage title insurance policy has not yet been issued, an original or copy of a marked-up written commitment or a pro forma title insurance policy marked as binding and countersigned by the title insurance company or its authorized agent either on its face or by an acknowledged closing instruction or escrow letter. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers related Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee related Servicer for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee Custodian (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage LoansSeller) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trusteerelated Servicer, except that, with respect to any Assignment of Mortgage as to which the Trustee Custodian has not received the information required to prepare such Assignment of Mortgage in recordable form, the TrusteeCustodian’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC The Seller shall be responsible for the fees and expenses of the Trustee Custodian in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of including any riders thereto, endorsed either (A) in blank, in which case the Mortgagor Trustee shall cause the endorsement to be completed or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing (noting the presence of the MIN of the Mortgage Loan and language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan), with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of submitted for recording;
(iii) unless the Mortgage or Loan is registered on the assignment thereofMERS® System, a duplicate or conformed copy of the Mortgage or the instrument of assignmentan original Assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to “Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]without recourse”;
(iv) The an original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from assignments (or to MERS if the originator of the related Mortgage Loan to is registered on the last assigneeMERS® System and noting the presence of MIN);
(v) the original or a certified copy of lender’s title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable (or, in lieu any. If any of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted documents referred to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatedSection 2(ii), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatediii) or a certification or receipt (iv) above has as of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans) been submitted for recording but either (ax) which has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgage. Such notice document, the obligations of the Depositor to deliver such documents shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause deemed to be forwarded satisfied upon (1) delivery to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of no later than the Closing Date with regard to the Initial Mortgage Loans and the related (or Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except thatDate, with respect to any Assignment Subsequent Mortgage Loans), of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment document certified by the Originator in the Custodial File. DLJMC shall case of (x) above or the applicable public recording office in the case of (y) above to be responsible for the fees a true and expenses complete copy of the Trustee in connection with this paragraph. At least 24 hours prior original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to delivery the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the Mortgage Loansoriginal. If the original lender’s title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor will provide shall deliver or cause to be provided delivered to the Custodian, via electronic transmissionthe original or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance or escrow company, with the original or a list of all certified copy thereof to be delivered to the Mortgage Loans and their related data fields including loan IDCustodian, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loanpromptly upon receipt thereof. This data The Servicer or the Depositor shall deliver or cause to be delivered to the Custodian in promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, including, but not limited to, any original documents evidencing an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy assumption or modification of the any Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan ScheduleLoan.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-2)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the "Custodial File"):
(Ai) the original Mortgage Note of Note, endorsed either (A) in blank, in which case the Mortgagor Custodian shall cause the endorsement to be completed or (B) in the name of the Trustee or endorsed “following form: "Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee " or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to "Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”without recourse";
(iv) The an original copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneeassignments;
(v) the original or a certified copy of lender's title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if any. If any of the documents referred to in Section 2(ii), (iii) or (iv) above has as of the Closing Date (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans) been submitted for recording but either (x) has not been returned from the applicable public recording office or (or, in lieu of y) has been lost or such public recording office has retained the original of any such agreementdocument, the obligations of the Depositor to deliver such documents shall be deemed to be satisfied upon (1) delivery to the Custodian no later than the Closing Date (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans), of a duplicate or conformed copy of each such agreement together with a certificate of receipt from document certified by the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) Originator in the case of (x) above or the First Mortgage Loansapplicable public recording office in the case of (y) above to be a true and complete copy of the original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the original. If the original lender's title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor shall deliver or cause to be delivered to the Custodian, the original mortgage or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance policyor escrow company, with the original or a certified copy thereof to be delivered to the Custodian, promptly upon receipt thereof. In The Servicer or the event thatDepositor shall deliver or cause to be delivered to the Custodian promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, pursuant including, but not limited to, any original documents evidencing an assumption or modification of any Mortgage Loan. Upon discovery or receipt of notice of any materially defective document in, or that a document is missing from, a Mortgage File, the Custodian shall notify the Servicer and the Servicer shall enforce the obligations of the Seller under the Mortgage Loan Purchase Agreement to cure such defect or deliver such missing document to the Trustee or the Custodian within 120 days. If the Seller does not cure such defect or deliver such missing document within such time period, the Servicer shall enforce the obligations of the Seller to either repurchase or substitute for such Mortgage Loan in accordance with Section 2.03 of the Pooling and Servicing Agreement. In connection with the foregoing, an Officer’s Certificate it is understood that the Custodian shall have no duty to discover any such defects except in the course of performing its review of the Seller is delivered Mortgage Files to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodianextent set forth herein. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a any Mortgage Loan approved by the related Servicer of such Mortgage Loan, entered into in accordance with this Agreement within two weeks of their execution; provided, however, that the terms Servicer shall provide the Custodian with a certified true copy of any such document submitted for recordation within two weeks of its execution, and shall provide the original of any document submitted for recordation or a copy of such document certified by the appropriate public recording office to be a true and complete copy of the original within 365 days of its submission for recordation. In the event that the Servicer cannot provide a copy of such document certified by the public recording office within such 365 day period, the Servicer shall deliver to the Custodian, within such 365 day period, an Officers' Certificate of the Servicer which shall (A) identify the recorded document, (B) state that the recorded document has not been delivered to the Custodian due solely to a delay caused by the public recording office, (C) state the amount of time generally required by the applicable recording office to record and return a document submitted for recordation, if known and (D) specify the date the applicable recorded document is expected to be delivered to the Custodian, and, upon receipt of a copy of such document certified by the public recording office, the Servicer shall immediately deliver such document to the Custodian. In the event the appropriate public recording office will not certify as to the accuracy of such document, the Servicer shall deliver a copy of such document certified by an officer of the Servicer to be a true and complete copy of the original to the Custodian. The Custodian hereby agrees to its duties under Section 2.03 of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Qualified Substitute Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff4)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of the Mortgagor Note, endorsed in blank or in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee under the applicable agreement, without recourse,” and signed in the name of the last named endorsee by an authorized officer, together with all prior and intervening endorsements showing a complete chain of endorsements endorsement from the originator of the related Mortgage Loan to the last endorsee or (B) with respect Person so endorsing to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage NoteTrustee;
(ii) the original Mortgage bearing with evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (orof recording thereon, in lieu of and the original recorded power of attorney, if the Mortgage or the assignment thereof, was executed pursuant to a duplicate or conformed copy power of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
iv) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignmentattorney, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samethereon;
v(iii) an original of any related security agreement Assignment in blank;
(if such item is a document separate from iv) the Mortgage) and the originals of any intervening assignments thereof original recorded Assignment or Assignments showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneePerson assigning the Mortgage to the Trustee as contemplated by the immediately preceding clause (iii);
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
viiv) the originals original or copies of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable any; and
(or, in lieu of vi) the original of any such agreementlender’s title insurance policy, a duplicate together with all endorsements or conformed copy riders that were issued with or subsequent to the issuance of such agreement together with a certificate of receipt from policy, insuring the related Seller or the settlement agent who handled the closing priority of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been as a first or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where second lien on the Mortgaged Property is located), or represented therein as a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of fee interest vested in the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property event such original title policy is located as determined by DLJMC (or, in lieu thereofunavailable, a duplicate written commitment or conformed copy uniform binder or preliminary report of such instrument, together with title issued by the title insurance or escrow company. With respect to a certificate maximum of receipt from the related Seller or the settlement agent who handled the closing approximately 2.00% of the Mortgage LoanLoans, certifying that such copy(ies) represent true and complete copy(ies) by outstanding Stated Principal Balance of the original(sMortgage Loans as of the Cut-off Date, if any original Mortgage Note referred to in Section 2(i) and that above cannot be located, the obligations of the Depositor to deliver such original(s) have been or are currently submitted documents shall be deemed to be recorded satisfied upon delivery to the Custodian of a photocopy of such Mortgage Note, if available, with a lost note affidavit substantially in the appropriate governmental recording office form of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant Exhibit H attached to the Pooling and Servicing Agreement, an Officer’s Certificate . If any of the Seller is original Mortgage Notes for which a lost note affidavit was delivered to the Trustee because Custodian is subsequently located, such original Mortgage Note shall be delivered to the Custodian within three Business Days. Notwithstanding the foregoing, the Assignments of Mortgage shall not be required to be submitted for recording (except with respect to any Mortgage Loan located in Maryland and Florida) unless the Depositor is informed by the Rating Agencies that such failure to record would result in a withdrawal or a downgrading by any Rating Agency of the rating on any Class of Certificates; provided, however, each Assignment shall be submitted in the manner described above, at no expense to the Trust Fund or the Trustee, upon the earliest to occur of: (i) reasonable direction by the Holders of Certificates entitled to at least 25% of the Voting Rights, (ii) the occurrence of a delay caused by Servicer Event of Default, (iii) the public recording office in returning any recorded documentoccurrence of a bankruptcy, the Trustee shall deliver such Officer’s Certificate insolvency or foreclosure relating to the Custodian. The Trustee shall direct Originator, (iv) the Custodian to deliver written notice to each Rating Agency, occurrence of a servicing transfer as such term is defined described in Section 7.02 of the Pooling and Servicing Agreement, within 360 days (v) upon receipt of notice from the Closing Date indicating each Servicer, the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under the related Mortgage and (vi) upon receipt of notice from the Servicer, any Mortgage Loan that is 90 days or more delinquent. Upon the occurrence of one of the events set forth in the immediately preceding sentence, the Depositor shall (a) which give prompt written notice to the Custodian of such event and (b) at the expense of the Originator, deliver such Assignments for recording as provided above, promptly and in any event within 30 days following receipt of notice by the Servicer. If any of the documents referred to in Sections 2(ii), (iii) or (iv) above has, as of the Closing Date, been submitted for recording but either (x) has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgagedocument, the obligations of the Depositor to deliver such documents shall be deemed to be satisfied upon (1) delivery to the Custodian of a copy of each such document certified by the Originator in the case of (x) above or the applicable public recording office in the case of (y) above to be a true and complete copy of the original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the original. Such notice All original documents relating to the Mortgage Loans that are not delivered to the Trustee or the Custodian are and shall be held by or on behalf of the Originator, the Seller, the Depositor or the Servicer, as the case may be, in trust for the benefit of the Trustee on behalf of the Certificateholders. In the event that any such original document is required pursuant to the terms of this Section 2 to be a part of a Custodial File, such document shall be delivered every 90 days thereafter until the related Mortgage is returned promptly to the Custodian. From time Any such original document delivered to time, or held by the Servicers shall forward or shall cause Depositor that is not required pursuant to the terms of this Section to be forwarded a part of a Custodial File, shall be delivered promptly to the Servicer. The Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms hereby agrees to its duties under Section 2.03 of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Qualified Substitute Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-Opt3)
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule: The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Ai.) the electronic Mortgage Loan Schedule;
ii.) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
iiiii.) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samesame and in the case of each MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN of the related Mortgage Loan and either language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan or if the Mortgage Loan was not a MOM Loan at origination, the original Mortgage and the assignment thereof to MERS, with evidence of recording indicated thereon or a copy of the Mortgage certified by the public recording office in which such Mortgage has been recorded;
iiiiv.) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
ivv.) The original for each Mortgage Loan, at any time that such Mortgage Loan is not a MERS Mortgage Loan, the originals of any all intervening assignment Assignments of the Mortgage not included in (iii) aboveabove showing a complete chain of assignment from the originator of such Mortgage Loan to the Person assigning the Mortgage to the Trustee, including any warehousing assignment, with evidence of recording thereon on each such Assignment of Mortgage (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
vvi.) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vivii.) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
viiviii.) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viiiix.) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of copy(ies)of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ixx.) in the case of the First Mortgage Loans, the original mortgage title insurance policy, or if such mortgage title insurance policy has not yet been issued, an original or copy of a marked-up written commitment or a pro forma title insurance policy marked as binding and countersigned by the title insurance company or its authorized agent either on its face or by an acknowledged closing instruction or escrow letter. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, in either case that are not MOM Loans and for which the related Mortgaged Properties are located in jurisdictions specifically excluded by the Opinion of Counsel delivered to the Trustee pursuant to Section 2.01 of the Pooling and Servicing Agreement, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4)
Delivery of Custodial Files. (a) The Depositor Servicer will deliver and release or cause to be delivered and released to the Custodian or the Subcustodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Ai) the original Mortgage Note of the Mortgagor including any riders thereto, endorsed either (A) in blank or (B) in the name of the Trustee or endorsed “following form: "Pay to the order of ________________ U.S. Bank National Association as Trustee for the C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB2, without recourse” and signed in the name of the last named endorsee by an authorized officer", together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Note, a an original lost note affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of such the related Mortgage Note;
(ii) the original Mortgage bearing including any riders thereto with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to "U.S. Bank National Association, in as Trustee for the event that the related Seller acquired the C-BASS Mortgage Loan in a mergerAsset-Backed Certificates, the assignment must be by “[Seller]Series 2006-CB2, successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”without recourse";
(iv) The an original or a certified copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from assignments;
(v) the originator original or a certified copy of the related Mortgage Loan to the last assignee;lender's title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable any.
(or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(iesb) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event thatthat any Mortgage Note is endorsed in blank as of the Closing Date, pursuant promptly following the Closing Date, the Custodian or the Servicer shall complete such endorsements in the following form: "Pay to the Pooling and Servicing Agreement, an Officer’s Certificate order of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating AgencyU.S. Bank National Association, as such term is defined in Trustee for the Pooling and Servicing AgreementC-BASS Mortgage Loan Asset-Backed Certificates, within 360 days from the Closing Date indicating each Mortgage Series 2006-CB2, without recourse."
(ac) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanServicer, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian or the Subcustodian as to each Mortgage Loan shall constitute the “"Custodial File”. From time to time, the Trustee ".
(d) The Servicer shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within promptly but in no event later than thirty (30) days of after the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansDate, the Trustee (at the expense of DLJ Mortgage Capitalsubmit for recording, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Section 2(a)(iii) and (iii2(a)(iv) above. In the event that any such assignment is lost or returned unrecorded because of a defect therein, the Servicer shall promptly prepare a substitute assignment to cure such defect and thereafter cause each such assignment to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so duly executed and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereofrecorded. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. .
(e) At least 24 twenty-four (24) hours prior to delivery of the Mortgage Loans, the Depositor Servicer will provide or cause to be provided provide to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s 's system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
(f) Not later than ten (10) Business Days after the receipt by the Custodian thereof, the Custodian shall review the related Mortgage File for each Eligible Substitute Mortgage Loan and all documents related thereto, as specified in Sections 2.01 and 2.02 of the Pooling and Servicing Agreement, and shall deliver to the Servicer and the Trustee a certification, substantially in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to such Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon. Within one (1) year of the date of substitution, the Custodian shall deliver to the Servicer and the Trustee a certification, in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to each Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon.
Appears in 1 contract
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of Note, endorsed either (A) in blank, in which case the Mortgagor Custodian shall cause the endorsement to be completed or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to “Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]without recourse”;
(iv) The an original copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneeassignments;
(v) the original or a certified copy of lender’s title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable (or, in lieu any. If any of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted documents referred to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatedSection 2(ii), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatediii) or a certification or receipt (iv) above has as of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans) been submitted for recording but either (ax) which has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgage. Such notice document, the obligations of the Depositor to deliver such documents shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause deemed to be forwarded satisfied upon (1) delivery to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of no later than the Closing Date with regard to the Initial Mortgage Loans and the related (or Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except thatDate, with respect to any Assignment Subsequent Mortgage Loans), of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment document certified by the Originator in the Custodial File. DLJMC shall case of (x) above or the applicable public recording office in the case of (y) above to be responsible for the fees a true and expenses complete copy of the Trustee in connection with this paragraph. At least 24 hours prior original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to delivery the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the Mortgage Loansoriginal. If the original lender’s title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor will provide shall deliver or cause to be provided delivered to the Custodian, via electronic transmissionthe original or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance or escrow company, with the original or a list of all certified copy thereof to be delivered to the Mortgage Loans and their related data fields including loan IDCustodian, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loanpromptly upon receipt thereof. This data The Servicer or the Depositor shall deliver or cause to be delivered to the Custodian in promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, including, but not limited to, any original documents evidencing an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy assumption or modification of the any Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan ScheduleLoan.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt1)
Delivery of Custodial Files. The Depositor Seller will release and deliver and release or cause to be delivered and released to the Custodian on at least five (5) Business Days prior to each Closing Date, with respect to the Delivery Date first 2000 Mortgage Loans, and at least one additional Business Day in advance of such 5 Business Day period with respect to each additional 500 Mortgage Loans, the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note bearing all intervening endorsements necessary to show a complete chain of endorsements from the Mortgagor original payee to the applicable Seller, endorsed in the name of the Trustee or endorsed “blank, "Pay to the order of of________________ , without recourse” and ", and, if previously endorsed, signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator duly qualified officer of the related last endorsee. If the Mortgage Loan to was acquired by the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment endorsement must be by “"[Sellername of last endorsee], successor by merger to [name of predecessor]”, and in the event that ". If the Mortgage Loan was acquired or originated by the related Seller last endorsee while doing business under another name, the assignment endorsement must be by “"[Sellername of last endorsee], formerly known as [previous name]”";
iv(b) The original of any intervening assignment of the with respect to each Mortgage Loan which is not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the MERS Mortgage Loan, certifying that such copy or copies represent true the original Assignment of Mortgage for each Mortgage Loan, in form and correct copy(ies) of substance acceptable for recording. The Mortgage shall be assigned, with assignee's name left blank. If the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed was acquired by the last assignee in blanka merger, the Assignment of Mortgage must be made by "[name of last assignee], successor by merger to [name of predecessor]". If the Mortgage Loan was acquired or originated by the last assignee while doing business under another name, the Assignment of Mortgage must be by "[name of last assignee], formerly known as [previous name];
vii(c) the originals original of any assumptioneach guarantee executed in connection with the Mortgage Note, modificationif any;
(d) for each Mortgage Loan which is not a MERS Mortgage Loan, extension or guaranty agreement the original recorded Mortgage, with evidence of recording thereon, and in the case of each MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN for that Mortgage Loan and either language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan, or if such Mortgage Loan was not a MOM Loan at origination, the original Mortgage and the assignment to MERS, with evidence of recording thereon. If in connection with any Mortgage Loan, the applicable Seller has not delivered or caused to be delivered the original Mortgage with evidence of recording thereon on or prior to the related Closing Date because of a delay caused by the public recording office where such Mortgage has been delivered for recordation or because such Mortgage has been lost or because such public recording office retains the original recorded Mortgage, the applicable Seller shall deliver or cause to be delivered to the Custodian, (ori) in the case of a delay caused by the public recording office, in lieu a copy of such Mortgage certified by the applicable Seller, escrow agent, title insurer or closing attorney to be a true and complete copy of the original of any such agreementrecorded Mortgage and (ii) in the case where a public recording office retains the original recorded Mortgage or in the case where a Mortgage is lost after recordation in a public recording office, a duplicate or conformed copy of such agreement together Mortgage certified by such public recording office to be a true and complete copy of the original recorded Mortgage;
(e) originals of each assumption, modification, consolidation or extension agreement, if any;
(f) except in the event that the original Mortgage is made to MERS, the originals of all intervening assignments of mortgage with evidence of recording thereon evidencing a certificate complete chain of receipt ownership from the related Seller or the settlement agent who handled the closing originator of the Mortgage LoanLoan to the last assignee (or to MERS, certifying if the Mortgage Loan is registered on the MERS System), or if any such intervening assignment of mortgage has not been returned from the applicable public recording office or has been lost or if such public recording office retains the original recorded intervening assignments of mortgage, a photocopy of such intervening assignment of mortgage, together with (i) in the case of a delay caused by the public recording office, an Officer's Certificate of the applicable Seller, escrow agent, closing attorney or the title insurer insuring the Mortgage stating that such copy(ies) represent true and correct copy(ies) intervening assignment of mortgage has been delivered to the original(s) appropriate public recording office for recordation and that such original(s) have been original recorded intervening assignment of mortgage or are currently submitted a copy of such intervening assignment of mortgage certified by the appropriate public recording office to be a true and complete copy of the original recorded intervening assignment of mortgage will be promptly delivered to the Custodian upon receipt thereof by the party delivering the Officer's Certificate or by the applicable Seller; or (ii) in the appropriate governmental case of an intervening assignment of mortgage where a public recording office retains the original recorded intervening assignment of mortgage or in the case where an intervening assignment of mortgage is lost after recordation in a public recording office, a copy of such intervening assignment of mortgage with recording information thereon certified by such public recording office to be a true and complete copy of the jurisdiction where the Mortgaged Property is located), or a certification or receipt original recorded intervening assignment of the recording authority evidencing the samemortgage;
viii(g) if the Mortgage Note or Note, the Mortgage, any Assignment of Mortgage or any other related document or instrument relating to the Mortgage Loan has been signed by a person Person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person Person to sign bearing evidence that such instrument has been recorded, if so requiredsign;
(h) the original lender's title insurance policy (or a marked title insurance commitment, in the appropriate jurisdiction where event that an original lender's title insurance policy has not yet been issued) in the Mortgaged Property is located form of an ALTA mortgage title insurance policy, containing each of the endorsements required by FNMA and insuring the Owner and its successors and assigns as determined by DLJMC (or, to the first priority lien of the Mortgage in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing original principal amount of the Mortgage Loan;
(i) original of any security agreement, certifying that such copy(ies) represent true and complete copy(ies) of chattel mortgage or equivalent document executed in connection with the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameMortgage, if any; and
ix(j) the original Primary Insurance Policy, if the Loan-to-Value Ratio is greater than 80.00%. In addition, in connection with the assignment of any MERS Mortgage Loan, the Seller agrees that it will cause, at the Seller's expense, the MERS System to indicate that such Mortgage Loans have been assigned by the Seller to the Owner in accordance with the Servicing Agreement (or deleting, in the case of Mortgage Loans which are repurchased in accordance with the First Servicing Agreement) by including in such computer files the information required by the MERS System to identify the Owner and the series in which such Mortgage Loans, Loans were sold. The Seller further agrees that it will not alter the original mortgage title insurance policycodes referenced in this paragraph with respect to any Mortgage Loan during the term of the Servicing Agreement unless and until such Mortgage Loan is repurchased in accordance with the terms of the Servicing Agreement. In the event that, If pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of foregoing provisions the Seller is delivered repurchases a Mortgage Loan that a MERS Mortgage Loan, the Seller shall either (i) cause MERS to execute and deliver an Assignment of Mortgage in recordable form to transfer the Mortgage from MERS to the Trustee because of a delay caused by Company and shall cause such Mortgage to be removed from registration on the public recording office MERS System in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling accordance with MERS' rules and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office regulations or (bii) cause MERS to designate on the MERS System the Seller or its designee as to which there is a dispute as to location or status the beneficial holder of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the CustodianLoan. From time to time, the Servicers Seller or the Owner, as the case may be, shall forward or shall cause to be forwarded to the Custodian additional original documents, or additional original documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “"Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule".
Appears in 1 contract
Delivery of Custodial Files. The Depositor Company has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ , without recourse” " and signed in the name of the last named endorsee (the "Last Endorsee") by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or officer (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan was acquired by the Last Endorsee in a merger, the assignment signature must be by “in the following form: "[Sellerthe Last Endorsee], successor by merger to [name of predecessor]”, and "; in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment signature must be by “in the following form: "[Sellerthe Last Endorsee], formerly known as [previous name]”";
iv(b) The the original of any intervening assignment of guarantee executed in connection with the Mortgage not included in Note (iiiif any);
(c) abovethe original Mortgage with evidence of recording thereon or copies certified by Seller, including any warehousing assignmentits agent or the title company on behalf of Seller to have been sent for recording;
(d) the originals of all assumption, modification, consolidation or extension agreements, with evidence of recording thereon or copies certified by Seller, its agent or the title company on behalf of Seller to have been sent for recording, if any;
(e) the original assignment of Mortgage in blank for each Mortgage Loan (or, if such Mortgage Loan is and will be registered on the MERS System, showing MERS as the assignee of such Mortgage, unless such Mortgage Loan is a MOM Loan, in lieu which case no assignment of Mortgage shall be required), in form and substance acceptable for recording and signed in the name of the last endorsee thereof (in the event that the Mortgage Loan was acquired by the last endorsee in a merger, the signature must be in the following form: "[the last endorsee], successor by merger to [name of predecessor]"; in the event that the Mortgage Loan was acquired or originated while doing business under another name, the signature must be in the following form: "[the last endorsee], formerly known as [previous name]");
(f) the originals of all intervening assignments of mortgage with evidence of recording thereon or copies certified by Seller to be true and correct and to have been sent for recording, if any;
(g) the original of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage (if any);
(h) the original policy of title insurance or a true copy thereof or, if such intervening assignmentpolicy has not yet been delivered by the insurer, the commitment or binder to issue the same (which may be marked by the Title insurance company) and a duplicate or conformed certified copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereonmortgage insurance, if applicable applicable; and
(or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(iesi) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recordedattorney, if so requiredany, in the appropriate jurisdiction where the Mortgaged Property is located as determined or a copy thereof certified by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing an authorized officer of the Mortgage LoanSeller, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning for any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodiandocument described above. From time to time, the Servicers Seller shall forward or shall cause to be forwarded to the Custodian additional original documents, documents or additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “"Custodial File”". From With respect to any documents which have been delivered or are being delivered to recording offices for recording and have not been returned to the Seller in time to timepermit their delivery hereunder at the time of such transfer, in lieu of delivering such original documents, Seller shall deliver to Custodian a true copy thereof with a certification by Seller, its agent or the Trustee shall instruct or cause title company on behalf of Seller on the instruction face of such copy substantially as follows: "I [name and title of signatory] of Seller do hereby certify that this is a true, correct and complete copy of the Custodian to original, which has been transmitted for recordation." The Seller shall deliver certain mortgage such original documents to the Trustee for assignment and recordationCustodian promptly after they are received. Within thirty The Custodian shall promptly (30within sixty (60) days following the Closing Date) stamp the endorsements on the Mortgage Notes as follows: "HSBC Bank USA, National Association as Trustee, in trust for the registered holders of People's Choice Home Loan Securities Trust Series 2004-2, Mortgage Pass-Through Certificates." The Seller shall promptly (within sixty (60) Business Days following the later of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard date of receipt by the Seller from the Company or the Originator of the recording information for a Mortgage, but in no event later than ninety (90) days following the Closing Date) submit or cause to the Subsequent Mortgage Loansbe submitted for recording, the Trustee (at the expense of DLJ Mortgage Capitalthe Seller, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iiirecords, each assignment referred to in Section 2(c) cause to be delivered for recording above in the appropriate public office for real property records the Assignments of Mortgages to the following form: "HSBC Bank USA, National Association as Trustee, except thatin trust for the registered holders of People's Choice Home Loan Securities Trust Series 2004-2, with respect Mortgage Pass-Through Certificates" and each assignment referred to in Section 2(g) above. In the event that any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment is lost or returned unrecorded because of Mortgage in recordable forma defect therein, the Trustee’s obligation to do so and to deliver the same for such recording Seller shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide promptly prepare or cause to be provided prepared a substitute assignment or cure or cause to be cured such defect, as the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity datecase may be, and original principal balance of thereafter cause each such Mortgage Loanassignment to be duly recorded. This data shall be delivered The Custodian hereby agrees to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy its duties under Section 2.03(b) of the Pooling and Servicing Agreement with respect to Qualified Substitute Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan ScheduleLoans.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2004-2)
Delivery of Custodial Files. The Depositor will No later than the Closing Date, the Purchaser or its designee shall deliver and release or cause to be delivered and released to the Custodian a copy of the related Mortgage Loan Schedule in an electronic, machine readable medium on a form mutually acceptable to the Delivery Purchaser and the Custodian. In addition, no later than the Closing Date the Seller or its designee shall deliver to the Custodian the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ , without recourse” " and signed in the name of the last named endorsee (the "Last Endorsee") by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from . To the originator extent that there is no room on the face of the related Mortgage Notes for endorsements, the endorsement may be contained on an allonge, unless state law does not so allow and the Custodian is so advised by the Seller that state law does not so allow. If the Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by "[Last Endorsee], successor by merger to [name of predecessor]". If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name (Bas the Custodian is notified in writing), the endorsement must be by "[Last Endorsee], formerly known as [previous name]";
(b) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to Mortgage Loans that are not Co-op Loans, the original Mortgage with evidence of recording thereon. With respect to any Lost Co-op Loan, an original or copy of the Security Agreement. If in connection with any Mortgage Note Loan, the Seller cannot deliver or cause to be delivered the original Mortgage with evidence of recording thereon on or prior to the Closing Date because of a delay caused by the public recording office where such Mortgage has been delivered for recordation or because such Mortgage has been lost or because such public recording office retains the original recorded Mortgage, the Seller shall deliver or cause to be delivered to the Custodian, a photocopy of such Mortgage, together with (as such term is defined i) in the Pooling case of a delay caused by the public recording office, certified by the Seller or Servicer (or certified by the title company, escrow agent, or closing attorney) stating that such Mortgage has been dispatched to the appropriate public recording office for recordation and Servicing Agreement), a lost note affidavit stating that the original recorded Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii) the original Mortgage bearing evidence that certified by such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu public recording office to be a true and complete copy of the original recorded Mortgage will be promptly delivered to the Custodian upon receipt thereof by the Seller; or (ii) in the case of a Mortgage where a public recording office retains the original recorded Mortgage or in the assignment thereofcase where a Mortgage is lost after recordation in a public recording office, a duplicate or conformed copy of such Mortgage certified by such public recording office to be a true and complete copy of the Mortgage original recorded Mortgage;
(d) the originals of all assumption, modification, consolidation or the instrument of assignmentextension agreements, if any, together with a certificate evidence of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samethereon;
iii(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of MortgageMortgage for each Mortgage Loan, in blank, which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Loans). The Assignment of Mortgage must be duly recorded only if recordation is either necessary under applicable law or commonly required by private institutional mortgage investors in the event that area where the related Seller acquired Mortgaged Property is located or on direction of the Purchaser as provided in this Agreement. If the Assignment of Mortgage is to be recorded, the Mortgage shall be assigned to the Trustee on behalf of the Trust. If the Assignment of Mortgage is not to be recorded, the Assignment of Mortgage shall be delivered in blank. If the Mortgage Loan was acquired by the Seller in a mergermerger (as the Custodian is notified in writing), the assignment Assignment of Mortgage must be made by “"[Seller], successor by merger to [name of predecessor]”, and in the event that ". If the Mortgage Loan was acquired or originated by the related Seller while doing business under another namename (as the Custodian is notified in writing), the assignment Assignment of Mortgage must be by “"[Seller], formerly known as [previous name]”";
iv(f) The original of any intervening assignment of the with respect to Mortgage Loans that are not included in (iii) aboveCo-op Loans, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, or if any such intervening assignment has not been returned from the applicable (or, in lieu of recording office or has been lost or if such public recording office retains the original recorded assignments of any such agreementmortgage, the Seller shall deliver or cause to be delivered to the Custodian, a duplicate or conformed copy photocopy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrumentintervening assignment, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix(i) in the case of a delay caused by the First public recording office, certified by the Seller or Servicer (or certified by the title company, escrow agent, or closing attorney) stating that such intervening assignment of mortgage has been dispatched to the appropriate public recording office for recordation and that such original recorded intervening assignment of mortgage or a copy of such intervening assignment of mortgage certified by the appropriate public recording office to be a true and complete copy of the original recorded intervening assignment of mortgage will be promptly delivered to the Custodian upon receipt thereof by the Seller; or (ii) in the case of an intervening assignment where a public recording office retains the original recorded intervening assignment or in the case where an intervening assignment is lost after recordation in a public recording office, a copy of such intervening assignment certified by such public recording office to be a true and complete copy of the original recorded intervening assignment;
(g) with respect to Mortgage Loans that are not Co-op Loans, the original mortgage mortgagee policy of title insurance policyor, in the event such original title policy is unavailable, a copy of the policy or related policy binder or commitment for title from the title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in connection with the Mortgage;
(i) with respect to any Co-op Loan: (i) a copy of the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the recognition agreement of the interests of the Mortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; and (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 assignment of such security interest by the Seller in a form sufficient for filing; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or photocopy of such power. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s 's Certificate of the Seller is delivered to the Trustee Purchaser because of a delay caused by the public recording office in returning any recorded document, the Trustee Seller shall deliver such to the Purchaser, within 90 days of the Closing Date, an Officer’s 's Certificate which shall (i) identify the recorded document, (ii) state that the recorded document has not been delivered to the Custodian due solely to a delay caused by the public recording office, (iii) state the amount of time generally required by the applicable recording office to record and return a document submitted for recordation, and (iv) specify the date the applicable recorded document will be delivered to the Custodian; provided, however, that any recorded document shall in no event be delivered later than one year following the Closing Date. An extension of the date specified in clause (iv) above may be requested from the Purchaser, which consent shall not be unreasonably withheld. The Trustee shall direct original Mortgage Note bearing all intervening endorsements, endorsed "Pay to the order of _________, without recourse" and signed in the name of the last endorsee (the "Last Endorsee") by an authorized officer. To the extent that there is no room on the face of the Mortgage Notes for endorsements, the endorsement may be contained on an allonge, unless state law does not so allow and the Custodian is so advised by the Purchaser or its designee that state law does not so allow. If the Mortgage Loan was acquired by the Seller in a merger (as the Custodian is notified in writing), the endorsement must be by "[Last Endorsee], successor by merger to [name of predecessor]". If the Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name (as the Custodian is notified in writing), the endorsement must be by "[Last Endorsee], formerly known as [previous name]"; Notwithstanding the foregoing, in connection with any item described above in clauses (c), (d) or (f), if the Seller cannot deliver written notice or cause to each Rating Agency, as be delivered the original of any such term is defined in the Pooling and Servicing Agreement, within 360 days from item with evidence of recording thereon on or prior to the Closing Date indicating each Mortgage (a) which has not been returned because of a delay caused by the appropriate public recording office where such item has been delivered for recordation or because such item has been lost or because such public recording office retains the original recorded item (b) as each such item, a "Delayed Document"), the Seller shall deliver or cause to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian, (i) in the case of a delay caused by the public recording office, a photocopy of such Delayed Document, together with an officer's certificate of the Seller (or certified by the title company, escrow agent, or closing attorney) to the effect that such copy is a true and correct copy of the Delayed Document that has been dispatched to the appropriate public recording office for recordation (and the original recorded Delayed Document or a copy of such Delayed Document certified by such public recording office to be a true and complete copy of the original recorded Delayed Document will be promptly delivered to the Custodian upon receipt thereof by the Seller); or (ii) in the case of a Delayed Document where a public recording office retains the original recorded Delayed Document or in the case where a Delayed Document is lost after recordation in a public recording office, a copy of such Delayed Document certified by such public recording office to be a true and complete copy of the original recorded Delayed Document. From time to time, the Servicers Purchaser or its designee shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.related
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(i) (A) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
(ii) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
(iii) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
(iv) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
(v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
(vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
(vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
(viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
(ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(A) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii.) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii.) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller Originator acquired the Mortgage Loan in a merger, the assignment must be by “[SellerOriginator], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller Originator while doing business under another name, the assignment must be by “[SellerOriginator], formerly known as [previous name]”;
iv.) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller Originator or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
vv.) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi.) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii.) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller Originator or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii.) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller Originator or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix.) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-6)
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Ai) the electronic Mortgage Loan Schedule;
(ii) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii(iii) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samesame and in the case of each MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN of the related Mortgage Loan and either language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan or if the Mortgage Loan was not a MOM Loan at origination, the original Mortgage and the assignment thereof to MERS, with evidence of recording indicated thereon or a copy of the Mortgage certified by the public recording office in which such Mortgage has been recorded;
iii(iv) for each Mortgage Loan that is not a MERS Mortgage Loan, the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
iv(v) The original for each Mortgage Loan, at any time that such Mortgage Loan is not a MERS Mortgage Loan, the originals of any all intervening assignment Assignments of the Mortgage not included in (iii) aboveabove showing a complete chain of assignment from the originator of such Mortgage Loan to the Person assigning the Mortgage to the Trustee, including any warehousing assignment, with evidence of recording thereon on each such Assignment of Mortgage (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v(vi) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi(vii) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii(viii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(ix) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of copy(ies)of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix(x) in the case of the First Mortgage Loans, the original mortgage title insurance policy, or if such mortgage title insurance policy has not yet been issued, an original or copy of a marked-up written commitment or a pro forma title insurance policy marked as binding and countersigned by the title insurance company or its authorized agent either on its face or by an acknowledged closing instruction or escrow letter. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of Note, endorsed either (A) in blank, in which case the Mortgagor Custodian shall cause the endorsement to be completed or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon (or the Electronic Recording thereof), and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording and(or the Electronic Recording thereof) except with respect to MERS Designated Mortgage Loans. The Mortgage shall be assigned either (A) in blank or (B) to “Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]without recourse”;
(iv) The an original copy of any intervening assignment assignments of Mortgage (or the Mortgage not included in (iiiElectronic Recording thereof) aboveif any, including any warehousing assignment, with evidence evidencing a complete chain of recording thereon assignments from the Servicer to the Last Endorsee (or, in lieu the case of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the MERS Designated Mortgage Loan, certifying that such copy or copies represent true and correct copy(iesMERS) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable ;
(or, in lieu of v) the original of any such agreement, or a duplicate or conformed certified copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samelender’s title insurance policy; and
ix(vi) in the case original or copies of each assumption, modification, written assurance or substitution agreement (or the Electronic Recording thereof), if any. If any of the First Mortgage Loansdocuments referred to in Section 2(ii), the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate (iii) or (iv) above has as of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage been submitted for recording but either (ax) which has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgage. Such notice document, the obligations of the Depositor to deliver such documents shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause deemed to be forwarded satisfied upon (1) delivery to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of no later than the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansDate, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment document certified by the Originator in the Custodial File. DLJMC shall case of (x) above or the applicable public recording office in the case of (y) above to be responsible for the fees a true and expenses complete copy of the Trustee in connection with this paragraph. At least 24 hours prior original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to delivery the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the Mortgage Loansoriginal. If the original lender’s title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor will provide shall deliver or cause to be provided delivered to the Custodian, via electronic transmissionthe original or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance or escrow company, with the original or a list of all certified copy thereof to be delivered to the Mortgage Loans and their related data fields including loan IDCustodian, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loanpromptly upon receipt thereof. This data The Servicer or the Depositor shall deliver or cause to be delivered to the Custodian in promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, including, but not limited to, any original documents evidencing an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy assumption or modification of the any Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan ScheduleLoan.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff16)
Delivery of Custodial Files. (a) The Depositor Servicer will deliver and release or cause to be delivered and released to the Custodian or the Subcustodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Ai) the original Mortgage Note of the Mortgagor including any riders thereto, endorsed either (A) in blank or (B) in the name of the Trustee or endorsed “following form: "Pay to the order of ________________ U.S. Bank National Association as Trustee for the C-BASS Mortgage Loan Asset-Backed Certificates, Series 2006-CB6, without recourse” and signed in the name of the last named endorsee by an authorized officer", together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Note, a an original lost note affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of such the related Mortgage Note;
(ii) the original Mortgage bearing including any riders thereto with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to "U.S. Bank National Association, in as Trustee for the event that the related Seller acquired the C-BASS Mortgage Loan in a mergerAsset-Backed Certificates, the assignment must be by “[Seller]Series 2006-CB6, successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”without recourse";
(iv) The an original or a certified copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from assignments;
(v) the originator original or a certified copy of the related Mortgage Loan to the last assignee;lender's title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable any.
(or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(iesb) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event thatthat any Mortgage Note is endorsed in blank as of the Closing Date, pursuant promptly following the Closing Date, the Custodian or the Servicer shall complete such endorsements in the following form: "Pay to the Pooling and Servicing Agreement, an Officer’s Certificate order of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating AgencyU.S. Bank National Association, as such term is defined in Trustee for the Pooling and Servicing AgreementC-BASS Mortgage Loan Asset-Backed Certificates, within 360 days from the Closing Date indicating each Mortgage Series 2006-CB6, without recourse."
(ac) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanServicer, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian or the Subcustodian as to each Mortgage Loan shall constitute the “"Custodial File”. From time to time, the Trustee ".
(d) The Servicer shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within promptly but in no event later than thirty (30) days of after the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansDate, the Trustee (at the expense of DLJ Mortgage Capitalsubmit for recording, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Section 2(a)(iii) and (iii2(a)(iv) above. In the event that any such assignment is lost or returned unrecorded because of a defect therein, the Servicer shall promptly prepare a substitute assignment to cure such defect and thereafter cause each such assignment to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so duly executed and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereofrecorded. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. .
(e) At least 24 twenty-four (24) hours prior to delivery of the Mortgage Loans, the Depositor Servicer will provide or cause to be provided provide to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s 's system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
(f) Not later than ten (10) Business Days after the receipt by the Custodian thereof, the Custodian shall review the related Mortgage File for each Eligible Substitute Mortgage Loan and all documents related thereto, as specified in Sections 2.01 and 2.02 of the Pooling and Servicing Agreement, and shall deliver to the Servicer and the Trustee a certification, substantially in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to such Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon. Within one (1) year of the date of substitution, the Custodian shall deliver to the Servicer and the Trustee a certification, in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to each Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon.
Appears in 1 contract
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the "Custodial File"):
(Ai) the original Mortgage Note of the Mortgagor Note, endorsed either (A) in blank, or (B) in the name of the Trustee or endorsed “following form: "Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee " or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to "Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”without recourse";
(iv) The an original copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneeassignments;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-1)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of Note, endorsed either (A) in blank, in which case the Mortgagor Custodian shall cause the endorsement to be completed or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to “Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]without recourse”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
(iv) The an original copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneeassignments;
(v) the original or a certified copy of lender’s title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable (or, in lieu any. If any of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted documents referred to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatedSection 2(ii), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is locatediii) or a certification or receipt (iv) above has as of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans) been submitted for recording but either (ax) which has not been returned by from the appropriate applicable public recording office or (by) as to which there is a dispute as to location has been lost or status such public recording office has retained the original of such Mortgage. Such notice document, the obligations of the Depositor to deliver such documents shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause deemed to be forwarded satisfied upon (1) delivery to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of no later than the Closing Date with regard to the Initial Mortgage Loans and the related (or Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except thatDate, with respect to any Assignment Subsequent Mortgage Loans), of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment document certified by the Originator in the Custodial File. DLJMC shall case of (x) above or the applicable public recording office in the case of (y) above to be responsible for the fees a true and expenses complete copy of the Trustee in connection with this paragraph. At least 24 hours prior original that was submitted for recording and (2) if such copy is certified by the Originator, delivery to delivery the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the Mortgage Loansoriginal. If the original lender’s title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor will provide shall deliver or cause to be provided delivered to the Custodian, via electronic transmissionthe original or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance or escrow company, with the original or a list of all certified copy thereof to be delivered to the Mortgage Loans and their related data fields including loan IDCustodian, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loanpromptly upon receipt thereof. This data The Servicer or the Depositor shall deliver or cause to be delivered to the Custodian in promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, including, but not limited to, any original documents evidencing an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy assumption or modification of the any Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan ScheduleLoan.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt2)
Delivery of Custodial Files. (a) The Depositor Servicer will deliver and release or cause to be delivered and released to the Custodian or the Subcustodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Ai) the original Mortgage Note of the Mortgagor including any riders thereto, endorsed either (A) in blank or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ LaSalle Bank National Association as Trustee for the C-BASS Mortgage Loan Asset-Backed Certificates, Series 2007-CB5, without recourse” and signed in the name of the last named endorsee by an authorized officer”, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Note, a an original lost note affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of such the related Mortgage Note;
(ii) the original Mortgage bearing including any riders thereto with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to “LaSalle Bank National Association, in as Trustee for the event that the related Seller acquired the C-BASS Mortgage Loan in a mergerAsset-Backed Certificates, the assignment must be by “[Seller]Series 2007-CB5, successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]without recourse”;
(iv) The an original or a certified copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from assignments;
(v) the originator original or a certified copy of the related Mortgage Loan to the last assignee;lender’s title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if applicable any.
(or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(iesb) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event thatthat any Mortgage Note is endorsed in blank as of the Closing Date, pursuant promptly following the Closing Date, the Custodian or the Servicer shall complete such endorsements in the following form: “Pay to the Pooling and Servicing Agreement, an Officer’s Certificate order of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating AgencyLaSalle Bank National Association, as such term is defined in Trustee for the Pooling and Servicing AgreementC-BASS Mortgage Loan Asset-Backed Certificates, within 360 days from the Closing Date indicating each Mortgage Series 2007-CB5, without recourse.”
(ac) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage LoanServicer, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian or the Subcustodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee .
(d) The Servicer shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within promptly but in no event later than thirty (30) days of after the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage LoansDate, the Trustee (at the expense of DLJ Mortgage Capitalsubmit for recording, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records records, each assignment referred to in Section 2(a)(iii) and (iii2(a)(iv) above. In the event that any such assignment is lost or returned unrecorded because of a defect therein, the Servicer shall promptly prepare a substitute assignment to cure such defect and thereafter cause each such assignment to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so duly executed and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereofrecorded. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. .
(e) At least 24 twenty-four (24) hours prior to delivery of the Mortgage Loans, the Depositor Servicer will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
(f) Not later than ten (10) Business Days after the receipt by the Custodian thereof, the Custodian shall review the related Mortgage File for each Eligible Substitute Mortgage Loan and all documents related thereto, as specified in Sections 2.01 and 2.02 of the Pooling and Servicing Agreement, and shall deliver to the Servicer and the Trustee a certification, substantially in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to such Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon. Within one (1) year of the date of substitution, the Custodian shall deliver to the Servicer and the Trustee a certification, in the form of Exhibit F-2 to the Pooling and Servicing Agreement, with respect to each Eligible Substitute Mortgage Loan, with any applicable exceptions noted thereon.
Appears in 1 contract
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to April 28, 2006 (the Delivery Date "Closing Date") the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ , without recourse” " and signed in the name of the last named endorsee (the "Last Endorsee") by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by "[Last Endorsee], successor by merger to [name of predecessor]". If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by "[Last Endorsee], formerly known as [previous name]";
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “"[Seller], successor by merger to [name of predecessor]”, and in the event that ". If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “"[Seller], formerly known as [previous name]”;
iv) The ". With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policy. In or, in the event thatsuch original title policy is unavailable, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate a certified true copy of the Seller is delivered related policy binder or commitment for title certified to the Trustee because of a delay caused be true and complete by the public recording office title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance connection with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall Mortgage; and
(i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty Co-op Loan: (30i) days after the receipt thereof. The Custodian shall maintain a copy of each the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the Custodial File. DLJMC shall be responsible for the fees and expenses recognition agreement of the Trustee in connection with this paragraph. At least 24 hours prior to delivery interests of the Mortgage Loansmortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the Depositor will provide stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or cause photocopy of such power certified by the Seller to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans true and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard correct copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Scheduleoriginal.
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Delivery of Custodial Files. The Depositor will deliver and release or cause to be delivered and released to the Custodian on the Delivery Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(a) (A) the original Mortgage Note of the Mortgagor in the name of the Trustee or endorsed “Pay to the order of ________________ without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit stating that the original Mortgage Note was lost or destroyed, together with a copy of such Mortgage Note;
ii(b) the original Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii(c) the original Assignment of Mortgage, in blank, which assignment appears to be in form and substance acceptable for recording and, in the event that the related Seller acquired the Mortgage Loan in a merger, the assignment must be by “[Seller], successor by merger to [name of predecessor]”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
iv(d) The original of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v(e) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assignee;
vi) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage Loans, the original mortgage title insurance policy. In the event that, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate of the Seller is delivered to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3)
Delivery of Custodial Files. The Depositor Seller will deliver and release or cause to be delivered and released to the Custodian on or prior to July 31, 2006 (the Delivery Date "Closing Date") the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:
(Aa) the original Mortgage Note of the Mortgagor in the name of the Trustee or bearing all intervening endorsements, endorsed “"Pay to the order of ________________ , without recourse” " and signed in the name of the last named endorsee (the "Last Endorsee") by an authorized officer. Any endorsement may be contained on an allonge (or in lieu of an original endorsement or allonge, together with all intervening endorsements showing a complete chain of endorsements from facsimile or a portable document format (PDF) copy thereof). If the originator of the related Mortgage Loan was acquired by the Seller in a merger, the endorsement must be by "[Last Endorsee], successor by merger to [name of predecessor]". If the last endorsee Mortgage Loan was acquired or originated by the Last Endorsee while doing business under another name, the endorsement must be by "[Last Endorsee], formerly known as [previous name]";
(Bb) the original of any guarantee executed in connection with the Mortgage Note;
(c) with respect to any Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement)Loans that are not Co-op Loans, a lost note affidavit stating that the original Mortgage Note was lost with evidence of recording thereon. With respect to any Co-op Loan, an original or destroyed, together with a copy of such Mortgage Notethe Security Agreement;
ii(d) the originals of all assumption, modification, consolidation or extension agreements, if any, with evidence of recording thereon;
(e) with respect to Mortgage Loans that are not Co-op Loans, the original Assignment of Mortgage bearing evidence that such instruments have been recorded in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC for each Mortgage Loan (or, in lieu of the an original signature page of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
iii) the original Assignment of Mortgage, in blanka facsimile or a Portable Document Format (PDF) copy thereof), which assignment appears to be in form and substance acceptable for recording and, (except with respect to MERS Designated Mortgage Loans). The Assignment of Mortgage shall be delivered in the event that the related Seller acquired blank. If the Mortgage Loan was acquired by the Seller in a merger, the assignment Assignment of Mortgage must be made by “"[Seller], successor by merger to [name of predecessor]”, and in the event that ". If the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment Assignment of Mortgage must be by “"[Seller], formerly known as [previous name]”;
iv) The ". With respect to any Co-op Loan, an original or copy of any intervening the assignment of the Mortgage not included Security Agreement endorsed in (iii) aboveblank, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the sameall intervening assignments thereof;
v(f) an original of any related security agreement (if such item is a document separate from the Mortgage) and with respect to Mortgage Loans that are not Co-op Loans, the originals of any all intervening assignments thereof showing of mortgage (if any) evidencing a complete chain of assignment from the originator of the related Mortgage Loan Seller to the last assignee;
viLast Endorsee (or, in the case of a MERS Designated Mortgage Loan, MERS) an original assignment of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any assumption, modification, extension or guaranty agreement with evidence of recording thereon, if applicable (or, in lieu of the original of any such agreement, a duplicate or conformed copy of such agreement together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii(g) if the with respect to Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument Loans that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) in the case of the First Mortgage not Co-op Loans, the original mortgage mortgagee policy of title insurance policy. In or, in the event thatsuch original title policy is unavailable, pursuant to the Pooling and Servicing Agreement, an Officer’s Certificate a certified true copy of the Seller is delivered related policy binder or commitment for title certified to the Trustee because of a delay caused be true and complete by the public recording office title insurance company;
(h) the original or, if unavailable, a copy of any security agreement, chattel mortgage or equivalent document executed in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodian. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a Mortgage Loan approved by the related Servicer of such Mortgage Loan, in accordance connection with the terms of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall Mortgage; and
(i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty Co-op Loan: (30i) days after the receipt thereof. The Custodian shall maintain a copy of each the Co-op Lease and the assignment of such Co-op Lease, with all intervening assignments showing a complete chain of title and an assignment thereof by Seller; (ii) the stock certificate together with an undated stock power relating to such stock certificate executed in blank; (iii) the Custodial File. DLJMC shall be responsible for the fees and expenses recognition agreement of the Trustee in connection with this paragraph. At least 24 hours prior to delivery interests of the Mortgage Loansmortgagee with respect to the Co-op Loan by the residential cooperative housing corporation, the Depositor will provide stock of which was pledged by the related Mortgagor to the originator of such Co-op Loan; (iv) copies of the financing statement filed by the originator as secured party and, if applicable, a filed UCC-3 Assignment of the subject security interest showing a complete chain of title, together with an executed UCC-3 Assignment of such security interest by the Seller; and
(j) if any of the above documents has been executed by a person holding a power of attorney, an original or cause photocopy of such power certified by the Seller to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans true and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard correct copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Scheduleoriginal.
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Delivery of Custodial Files. The Depositor has delivered and released, or will deliver and release or cause to be delivered and released released, to the Custodian on or prior to the Delivery Closing Date the following original documents pertaining to each of the Mortgage Loans identified in the related Mortgage Loan Schedule:Schedule (the “Custodial File”):
(Ai) the original Mortgage Note of the Mortgagor Note, endorsed either (A) in blank, or (B) in the name of the Trustee or endorsed following form: “Pay to the order of ________________ Deutsche Bank National Trust Company, as Trustee, without recourse” and signed in the name of the last named endorsee by an authorized officer, together with all intervening endorsements showing a complete chain of endorsements from the originator of the related Mortgage Loan to the last endorsee or (B) with respect to any lost Mortgage Note, an original Lost Mortgage Note (as such term is defined in the Pooling and Servicing Agreement), a lost note affidavit Affidavit stating that the original Mortgage Note mortgage note was lost lost, misplaced or destroyed, together with a copy of the related mortgage note; provided, however, that such substitutions of Lost Note Affidavits for original Mortgage NoteNotes may occur only with respect to Mortgage Loans, the aggregate Cut-off Date Principal Balance of which is less than or equal to 1.00% of the Pool Balance as of the Cut-off Date;
(ii) the original Mortgage bearing with evidence that such instruments have been of recording thereon, and the original recorded in power of attorney, if the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon or, in lieu if such Mortgage or power of attorney has been submitted for recording but has not been returned from the applicable public recording office, has been lost or is not otherwise available, a copy of such Mortgage or power of attorney, as the case may be, certified to be a true and complete copy of the original of the Mortgage or the assignment thereof, a duplicate or conformed copy of the Mortgage or the instrument of assignment, if any, together with a certificate of receipt from the Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the samefor recording;
(iii) the an original Assignment of MortgageAssignment, in blank, which assignment appears to be in form and substance acceptable for recording andrecording. The Mortgage shall be assigned either (A) in blank or (B) to “Deutsche Bank National Trust Company, in the event that the related Seller acquired the Mortgage Loan in a mergeras Trustee, the assignment must be by “[Seller], successor by merger to [name of predecessor]without recourse”, and in the event that the Mortgage Loan was acquired or originated by the related Seller while doing business under another name, the assignment must be by “[Seller], formerly known as [previous name]”;
(iv) The an original copy of any intervening assignment of the Mortgage not included in (iii) above, including any warehousing assignment, with evidence of recording thereon (or, in lieu of the original of any such intervening assignment, a duplicate or conformed copy of such intervening assignment together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy or copies represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same;
v) an original of any related security agreement (if such item is a document separate from the Mortgage) and the originals of any intervening assignments thereof showing a complete chain of assignment from the originator of the related Mortgage Loan to the last assigneeassignments;
(v) the original or a certified copy of lender’s title insurance policy; and
(vi) an the original assignment or copies of any related security agreement (if such item is a document separate from the Mortgage) executed by the last assignee in blank;
vii) the originals of any each assumption, modification, extension written assurance or guaranty agreement with evidence of recording thereonsubstitution agreement, if any. If any of the documents referred to in Section 2(ii), (iii) or (iv) above has as of the Closing Date (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans) been submitted for recording but either (x) has not been returned from the applicable public recording office or (or, in lieu of y) has been lost or such public recording office has retained the original of any such agreementdocument, the obligations of the Depositor to deliver such documents shall be deemed to be satisfied upon (1) delivery to the Custodian no later than the Closing Date (or Subsequent Transfer Date, with respect to Subsequent Mortgage Loans), of a duplicate or conformed copy of each such agreement together with a certificate of receipt from document certified by the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and correct copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located), or a certification or receipt of the recording authority evidencing the same;
viii) if the Mortgage Note or Mortgage or any other document or instrument relating to the Mortgage Loan has been signed by a person on behalf of the Mortgagor, the original power of attorney or other instrument that authorized and empowered such person to sign bearing evidence that such instrument has been recorded, if so required, in the appropriate jurisdiction where the Mortgaged Property is located as determined by DLJMC (or, in lieu thereof, a duplicate or conformed copy of such instrument, together with a certificate of receipt from the related Seller or the settlement agent who handled the closing of the Mortgage Loan, certifying that such copy(ies) represent true and complete copy(ies) of the original(s) and that such original(s) have been or are currently submitted to be recorded in the appropriate governmental recording office of the jurisdiction where the Mortgaged Property is located) or a certification or receipt of the recording authority evidencing the same; and
ix) Originator in the case of (x) above or the First Mortgage Loansapplicable public recording office in the case of (y) above to be a true and complete copy of the original that was submitted for recording and (2) if such copy is certified by the related Originator, delivery to the Custodian, promptly upon receipt thereof of either the original or a copy of such document certified by the applicable public recording office to be a true and complete copy of the original. If the original lender’s title insurance policy, or a certified copy thereof, was not delivered pursuant to Section 2(v) above, the Depositor shall deliver or cause to be delivered to the Custodian, the original mortgage or a copy of a written commitment or interim binder or preliminary report of title issued by the title insurance policyor escrow company, with the original or a certified copy thereof to be delivered to the Custodian, promptly upon receipt thereof. In The related Servicer or the event thatDepositor shall deliver or cause to be delivered to the Custodian promptly upon receipt thereof any other documents constituting a part of a Mortgage File received with respect to any Mortgage Loan, pursuant including, but not limited to, any original documents evidencing an assumption or modification of any Mortgage Loan. Upon discovery or receipt of notice of any materially defective document in, or that a document is missing from, a Mortgage File, the Custodian shall notify the related Servicer and such Servicer shall enforce the obligations of the Originator or the Seller, as applicable under the Assignment Agreement to cure such defect or deliver such missing document to the Trustee or the Custodian within 90 days. If the Originator or the Seller does not cure such defect or deliver such missing document within such time period, the related Servicer shall use commercially reasonable efforts to attempt to enforce the obligations of the related Originator or the Seller, as applicable, to either repurchase or substitute for such Mortgage Loan in accordance with Section 2.03 of the Pooling and Servicing Agreement; provided, an Officer’s Certificate however, that such Servicer shall not be under any obligation to take any action pursuant to this paragraph unless directed by the Depositor and provided, further, the Depositor hereby agrees to assist such Servicer in enforcing any obligations of any Originator to repurchase or substitute for a Mortgage Loan which has breached a representation or warranty under the related Assignment Agreement. In connection with the foregoing, it is understood that the Custodian shall have no duty to discover any such defects except in the course of performing its review of the Seller is delivered Mortgage Files to the Trustee because of a delay caused by the public recording office in returning any recorded document, the Trustee shall deliver such Officer’s Certificate to the Custodianextent set forth herein. The Trustee shall direct the Custodian to deliver written notice to each Rating Agency, as such term is defined in the Pooling and Servicing Agreement, within 360 days from the Closing Date indicating each Mortgage (a) which has not been returned by the appropriate recording office or (b) as to which there is a dispute as to location or status of such Mortgage. Such notice shall be delivered every 90 days thereafter until the related Mortgage is returned to the Custodian. From time to time, the Servicers Each Servicer shall forward or shall cause to be forwarded to the Custodian additional original documents, additional documents evidencing an assumption, modification, consolidation or extension of a any Mortgage Loan approved entered into in accordance with this Agreement within two weeks of their execution; provided, however, that each Servicer shall provide the Custodian with a certified true copy of any such document submitted for recordation within two weeks of its execution, and shall provide the original of any document submitted for recordation or a copy of such document certified by the appropriate public recording office to be a true and complete copy of the original within 365 days of its submission for recordation. In the event that a Servicer cannot provide a copy of such document certified by the public recording office within such 365 day period, such Servicer shall deliver to the Custodian, within such 365 day period, an Officers’ Certificate of such Servicer which shall (A) identify the recorded document, (B) state that the recorded document has not been delivered to the Custodian due solely to a delay caused by the public recording office, (C) state the amount of time generally required by the applicable recording office to record and return a document submitted for recordation, if known and (D) specify the date the applicable recorded document is expected to be delivered to the Custodian, and, upon receipt of a copy of such document certified by the public recording office, such Servicer shall immediately deliver such document to the Custodian. In the event the appropriate public recording office will not certify as to the accuracy of such document, the related Servicer shall deliver a copy of such Mortgage Loan, in accordance with document certified by an officer of such Servicer to be a true and complete copy of the terms original to the Custodian. The Custodian hereby agrees to its duties under Section 2.03 of the Pooling and Servicing Agreement. All such mortgage documents held by the Custodian as to each Mortgage Loan shall constitute the “Custodial File”. From time to time, the Trustee shall instruct or cause the instruction of the Custodian to deliver certain mortgage documents to the Trustee for assignment and recordation. Within thirty (30) days of the Closing Date with regard to the Initial Mortgage Loans and the related Subsequent Transfer Date with regard to the Subsequent Mortgage Loans, the Trustee (at the expense of DLJ Mortgage Capital, Inc., referred to in the Pooling and Servicing Agreement as DLJMC, the seller of the Mortgage Loans) shall (i) affix the Trustee’s name to each Assignment of Mortgage, as the assignee thereof, (ii) cause such Assignment of Mortgage to be completed in proper form for recording in the appropriate public office for real property records and (iii) cause to be delivered for recording in the appropriate public office for real property records the Assignments of Mortgages to the Trustee, except that, with respect to any Assignment of Mortgage as to which the Trustee has not received the information required to prepare such Assignment of Mortgage in recordable form, the Trustee’s obligation to do so and to deliver the same for such recording shall be as soon as practicable after receipt of such information and in any event within thirty (30) days after the receipt thereof. The Custodian shall maintain a copy of each such assignment in the Custodial File. DLJMC shall be responsible for the fees and expenses of the Trustee in connection with this paragraph. At least 24 hours prior to delivery of the Qualified Substitute Mortgage Loans, the Depositor will provide or cause to be provided to the Custodian, via electronic transmission, a list of all the Mortgage Loans and their related data fields including loan ID, Mortgagor name, mortgaged property address, mortgage rate, maturity date, and original principal balance of each such Mortgage Loan. This data shall be delivered to the Custodian in an acceptable format that can be easily uploaded to the Custodian’s system. A hard copy of the Mortgage Loan Schedule will be delivered to the Custodian at the time of delivery to the Custodian of such documents related to the Mortgage Loans identified in such Mortgage Loan Schedule.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-2)