Distribution Date Data Tapes and Reports Clause Samples
The 'Distribution Date Data Tapes and Reports' clause requires the provision of specific data tapes and reports on each distribution date. Typically, this involves the party responsible for servicing or administering a pool of assets to prepare and deliver detailed information about collections, payments, and asset performance as of the distribution date. This ensures that all relevant stakeholders, such as trustees or investors, receive timely and accurate data necessary for monitoring the transaction and making informed decisions. The core function of this clause is to promote transparency and accountability by mandating regular, structured reporting.
Distribution Date Data Tapes and Reports. Seller shall deliver the following to Purchaser two Business Days prior to each Distribution Date:
(a) An Electronic Data File in form and substance acceptable to Purchaser containing, for each Mortgage Loan, principal, interest and Servicing Spread Collections, and delinquency status (i.e. 30, 60, 90, FCL, REO) as of the last day of the prior Collection Period;
(b) A Summary Activity Report with respect to the Mortgage Loans with respect to the prior Collection Period containing:
(i) aggregate beginning principal balance as of the first and last date of the Collection Period,
(ii) aggregate regular principal collected,
(iii) aggregate noncash principal,
(iv) aggregate interest collected,
(v) aggregate liquidation principal,
(vi) aggregate curtailments,
(vii) liquidations,
(viii) short sales,
(1) for each Mortgage Loan, the principal balance, the applicable servicing spread, the final maturity date, the mortgage interest rate, the loan-to-value ratio and the FICO score, and (2) for each Mortgage Loan that was refinanced by a lender other than Seller or an affiliate thereof, to the extent such information is known to Seller in the ordinary course of business and the collection and delivery of such information does not impose any additional and undue burden on Seller, the name of such lender and the mortgage interest rate of the newly originated residential mortgage loan;
(c) A Delinquency Report with respect to the Mortgage Loans containing:
(i) The aggregate outstanding principal balance of the Mortgage Loans and percentages of the aggregate outstanding principal balance of the Mortgage Loans in each of the following categories as of the last day of the prior Collection Period:
(1) Current Mortgage Loans,
(2) 0-29 days delinquent,
(3) 30-59 days delinquent,
(4) 60-89 days delinquent,
(5) 90 days or more delinquent,
(6) Mortgage Loans in Foreclosure,
(7) Mortgage Loans with respect to which the related Mortgaged Properties have become real estate owned properties, and
(8) Mortgage Loans in which the Mortgagor is in bankruptcy;
(ii) For each of the above categories, a roll report showing the migration of Mortgage Loans in such category from the last day of the second prior Collection Period;
(d) A Disbursement Report for such Distribution Date containing:
(i) The Servicing Spread Collections for the prior Collection Period,
(ii) The Base Servicing Fee paid to Seller,
(iii) The amount of the Current Excess Servicing Spread paid to Purchaser,
(iv) The amount o...
Distribution Date Data Tapes and Reports. Seller shall deliver the following to Purchaser two Business Days prior to each Distribution Date:
(a) An Electronic Data File in form and substance acceptable to Purchaser containing, for each Mortgage Loan, principal, interest and Servicing Spread Collections, and delinquency status (i.e. 30, 60, 90, FCL, REO) as of the last day of the prior Collection Period;
(b) A Summary Activity Report with respect to the Mortgage Loans with respect to the prior Collection Period containing:
(i) Aggregate Beginning Principal Balance as of the first and last date of the Collection Period,
(ii) Aggregate Regular Principal Collected,
(iii) Aggregate Noncash Principal,
(iv) Aggregate Interest Collected,
(v) Aggregate Liquidation Principal,
(vi) Aggregate Curtailments, (vii) Liquidations,
(viii) Short Sales,