Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------
Appears in 7 contracts
Samples: Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------
Appears in 3 contracts
Samples: Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar), Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, 1122(d)(2)(vii) or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- INVESTOR REMITTANCES AND REPORTING ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, 1122(d)(3)(ii) distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's 1122(d)(3)(iii) investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or 1122(d)(3)(iv) other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- POOL ASSET ADMINISTRATION ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Collateral or security on pool assets is maintained as required by the transaction 1122(d)(4)(i) agreements or related asset pool documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Pool assets and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved 1122(d)(4)(iii) in accordance with any conditions or requirements in the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- The servicer's records regarding the pool assets agree with the servicer's records with 1122(d)(4)(v) respect to an obligor's unpaid principal balance. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in 1122(d)(4)(vi) accordance with the transaction agreements and related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are 1122(d)(4)(ix) computed based on the related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late 1122(d)(4)(xii) payment was due to the obligor's error or omission. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in 1122(d)(4)(xiii) the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or 1122(d)(4)(xv) Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- EXHIBIT T-1 FORM OF FORM 10-K CERTIFICATION I, [identify the certifying individual], certify that:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (RASC Series 2007-Ks4 Trust), Pooling and Servicing Agreement (RASC Series 2007-Ks2 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Servicer/Trustee ------------------------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number Servicer/Trustee 1122(d)(2)(vii) of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans serviced by Servicer/Trustee 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with timeframes, Servicer/Trustee 1122(d)(3)(ii) distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to the Servicer's Servicer/Trustee 1122(d)(3)(iii) investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with cancelled checks, or other Servicer/Trustee 1122(d)(3)(iv) form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Pool Asset Administration ------------------------------------------------------------------------------------------------------------------------------------ Collateral or security on mortgage loans is maintained as required by the transaction Servicer/Trustee 1122(d)(4)(i) agreements or related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the transaction agreements Trustee ------------------------------------------------------------------------------------------------------------------------------------ Any additions, removals or substitutions to the asset pool are made, reviewed and approved Trustee/Servicer 1122(d)(4)(iii) in accordance with any conditions or requirements in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance Servicer 1122(d)(4)(iv) with the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ The Servicer's records regarding the mortgage loans agree with the Servicer's records with Servicer 1122(d)(4)(v) respect to an obligor's unpaid principal balance. ------------------------------------------------------------------------------------------------------------------------------------ Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in 1122(d)(4)(vi) accordance with the transaction agreements and related pool asset documents. Servicer ------------------------------------------------------------------------------------------------------------------------------------ Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. Servicer ------------------------------------------------------------------------------------------------------------------------------------ Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is Servicer 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). ------------------------------------------------------------------------------------------------------------------------------------ Adjustments to interest rates or rates of return for mortgage loans with variable rates are Servicer 1122(d)(4)(ix) computed based on the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified Servicer 1122(d)(4)(x) in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the Servicer 1122(d)(4)(xi) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. Servicer ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the Servicer 1122(d)(4)(xiii) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in Servicer 1122(d)(4)(xiv) accordance with the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item Trustee 1122(d)(4)(xv) 1115 of Regulation AB, is maintained as set forth in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ EXHIBIT Q ADDITIONAL FORM 10-D DISCLOSURE Item on Form 10-D Party Responsible ------------------------------------------------------------------------------------------------------------------------------------ Item 1: Distribution and Pool Servicer Performance Information Trustee
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Msac 2006-Nc1), Pooling and Servicing Agreement (Msac 2006-Nc1)
Exchange Act. Servicer/Securities 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Administrator/Master Servicer ------------------------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed Servicer/Securities securities related bank accounts, including custodial accounts and Administrator/Master Servicer related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, Servicer/Securities are maintained in accordance with the transaction agreements and Administrator/Master Servicer applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with Servicer/Securities timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the Administrator/Master Servicer 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to Servicer/Securities the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified Administrator/Master Servicer 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with Servicer/Securities 1122(d)(3)(iv) cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------Administrator/Master Servicer ------------------------------------------------------------------------------------------------------------------------------------ Pool Asset Administration ------------------------------------------------------------------------------------------------------------------------------------ Collateral or security on mortgage loans is maintained as required by Trustee/Servicer/ 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ Mortgage loan and related documents are safeguarded as required by the Trustee/Servicer/ 1122(d)(4)(ii) transaction agreements ------------------------------------------------------------------------------------------------------------------------------------ Any additions, removals or substitutions to the asset pool are made, Securities reviewed and approved in accordance with any conditions or requirements Administrator/Servicer 1122(d)(4)(iii) in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments on mortgage loans, including any payoffs, made in accordance Servicer with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ The Servicer's records regarding the mortgage loans agree with the Servicer 1122(d)(4)(v) Servicer's records with respect to an obligor's unpaid principal balance. ------------------------------------------------------------------------------------------------------------------------------------ Changes with respect to the terms or status of an obligor's mortgage Servicer loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ------------------------------------------------------------------------------------------------------------------------------------ Loss mitigation or recovery actions (e.g., forbearance plans, Servicer modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Records documenting collection efforts are maintained during the period a Servicer mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------------------------------------------------------------------------------------------------------------------------ Adjustments to interest rates or rates of return for mortgage loans with Servicer 1122(d)(4)(ix) variable rates are computed based on the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ Regarding any funds held in trust for an obligor (such as escrow Servicer accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments made on behalf of an obligor (such as tax or insurance payments) Servicer are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Any late payment penalties in connection with any payment to be made on Servicer behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made on behalf of an obligor are posted within two business Servicer days to the obligor's records maintained by the servicer, or such other 1122(d)(4)(xiii) number of days specified in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Delinquencies, charge-offs and uncollectible accounts are recognized and Servicer/Securities 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. Administrator ------------------------------------------------------------------------------------------------------------------------------------ Any external enhancement or other support, identified in Item 1114(a)(1) Securities Administrator through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ EXHIBIT T Additional Form 10-D Disclosure ------------------------------------------------------------------------------------------------------- ADDITIONAL FORM 10-D DISCLOSURE ------------------------------------------------------------------------------------------------------- Item on Form 10-D Party Responsible ------------------------------------------------------------------------------------------------------- Item 1: Distribution and Pool Performance Information ------------------------------------------------------------------------------------------------------- Information included in the Monthly Statement Servicers/ Master Servicer/ Securities Administrator ------------------------------------------------------------------------------------------------------- Any information required by Item 1121 of Regulation Depositor AB which is NOT included on the Monthly Statement -------------------------------------------------------------------------------------------------------
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc2)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 thirty (30) calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 ninety (90) calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the CommissionSEC, are maintained in accordance with the transaction agreements and applicable Commission SEC requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission SEC as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicerservicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted X in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two (2) X business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in 1122(d)(3)(iii) the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 2 contracts
Samples: Indenture (FPL Recovery Funding LLC), Indenture (Florida Power & Light Co)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 2 contracts
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction X agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 2 contracts
Samples: Banc of America Funding 2006-I Trust, Banc of America Funding 2006-8t2 Trust
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ---------- ----------- ----------- --------- -------- ---------- 1122(d)(2)(vii) Reconciliations are prepared on X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ---------- ----------- ----------- --------- -------- ---------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ---------- ----------- ----------- --------- -------- ---------- 1122(d)(3)(i) Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------ ---------- ----------- ----------- --------- -------- ----------
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets LLC), Pooling and Servicing Agreement (American Home Mortgage Securities LLC)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(2)(vii) Reconciliations are prepared on X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(3)(i) Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Amounts due to investors are X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Disbursements made to an X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(3)(iv) Amounts remitted to investors X X X X per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Pool Asset Administration ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(iii) Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Changes with respect to the X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Loss mitigation or recovery X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(ix) Adjustments to interest rates or X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ Any external enhancement or X X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- ----------- ------------ ------------------ ----------- Reg AB Reference Notes ------------------ ----------- ------------------ ----------- 1122(d)(1)(i) 1 - attest to knowledge but not to process ------------------ ----------- 1122(d)(1)(ii) ------------------ ----------- NA 1122(d)(1)(iii) ------------------ ----------- 1122(d)(1)(iv) ------------------ ----------- ------------------ ----------- 1122(d)(2)(i) ------------------ ----------- 1122(d)(2)(ii) ------------------ -----------
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP), Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- X -------------------- ------------------------------------------------------- -------------------- ------------------- ------------------- ------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by X someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- P-2 ---------------------------------------------------------------------------- -------------------- ------------------- ------------- Securities Servicing Criteria Master Servicer Administrator Custodian ---------------------------------------------------------------------------- -------------------- ------------------- ------------- Reference Criteria -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- ------------------- ------------------- ------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with X X the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- ------------------- ------------------- ------------- Amounts due to investors are allocated and remitted X X in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- ------------------- ------------------- ------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, X or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- ------------------- ------------------- ------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of X 1122(d)(3)(iv) payment, or 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------- -------------------- ------------------- ------------- Pool Asset Administration -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- Collateral or security on mortgage loans is X maintained as required by the transaction agreements 1122(d)(4)(i) or related mortgage loan documents. -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- Mortgage loan and related documents are safeguarded 1122(d)(4)(ii) as required by the transaction agreements. X -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- Any additions, removals or substitutions to the asset 1122(d)(4)(iii) pool are made, reviewed and -------------------- ------------------------------------------------------- -------------------- ------------------- ------------- P-3
Appears in 1 contract
Exchange Act. Unissued checks are safeguarded X X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------- -------------- Reconciliations are prepared on X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified 1122(d)(2)(vii) in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ------------- -------------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------- -------------- Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PHH Mortgage Capital LLC)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed o securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, o are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with o timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified o 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or o 1122(d)(3)(iv) or custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related o 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the o 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, o reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance o with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid o 1122(d)(4)(v) principal balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage o loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, o modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period o a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Servicing Agreement (Banc of America Funding 2007-B Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X the transaction agreements or related 1122(d)(4(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-16ax)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans certificates 1122(d)(3)(i) serviced by the Servicerservicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------------------------ ----------------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of 1122(d)(3)(iv) payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------ ----------------------- ---------------- Pool Asset Administration ----------------- ------------------------------------------------------ ----------------------- ---------------- Collateral or security on mortgage certificates is maintained as required by the transaction agreements 1122(d)(4)(i) or related mortgage certificate documents. ----------------- ------------------------------------------------------ ----------------------- ---------------- Mortgage certificates and related documents are 1122(d)(4)(ii) safeguarded as required by the transaction agreements ----------------- ------------------------------------------------------ ----------------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Payments on mortgage certificates, including any payoffs, made in accordance with the related mortgage certificate documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related 1122(d)(4)(iv) mortgage certificate documents. ----------------- ------------------------------------------------------ ----------------------- ---------------- The servicer's records regarding the mortgage certificates agree with the servicer's records with 1122(d)(4)(v) respect to an obligor's unpaid principal balance. ----------------- ------------------------------------------------------ ----------------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage certificates (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related mortgage 1122(d)(4)(vi) certificate documents. ----------------- ------------------------------------------------------ ----------------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage certificate is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage certificates including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ----------------- ------------------------------------------------------ ----------------------- ---------------- Adjustments to interest rates or rates of return for mortgage certificates with variable rates are computed based on the related mortgage certificate 1122(d)(4)(ix) documents. ----------------- ------------------------------------------------------ ----------------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage certificate documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage certificate documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage certificates, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. ----------------- ------------------------------------------------------ ----------------------- ---------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ----------------- ------------------------------------------------------ ----------------------- ---------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------------------------------------------------------------------------------------------------- [_______________________] Date: _________________________ By:_____________________________ Name: Title: EXHIBIT J Additional Form 10-D Disclosure --------------------------------------- --------------------------------------- Item on Form 10-D Party Responsible --------------------------------------- --------------------------------------- Item 1: Distribution and Pool Securities Administrator, Performance Information Depositor Any information required by 1121 which is NOT included on the Distribution Date Statement --------------------------------------- --------------------------------------- Item 2: Legal Proceedings per Item (i) All parties to the Trust 1117 of Reg AB Agreement, (ii) the Securities Administrator as to the issuing entity, (iii) the Depositor as to the sponsor, any 1100(d)(1) party --------------------------------------- --------------------------------------- Item 3: Sale of Securities and Use of Depositor Proceeds --------------------------------------- --------------------------------------- Item 4: Defaults Upon Senior Securities Securities Administrator --------------------------------------- --------------------------------------- Item 5: Submission of Matters to a Securities Administrator, Trustee Vote of Security Holders --------------------------------------- --------------------------------------- Item 6: Significant Obligors of Pool Depositor, if applicable Assets --------------------------------------- --------------------------------------- Item 7: Significant Enhancement Depositor, if applicable Provider Information --------------------------------------- --------------------------------------- Item 8: Other Information Any party responsible for disclosure items on Form 8-K --------------------------------------- --------------------------------------- Item 9: Exhibits Depositor, Securities Administrator --------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------- EXHIBIT K Additional Form 10-K Disclosure
Appears in 1 contract
Samples: Trust Agreement (Wells Fargo Asset Securities Corp)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance X with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal 1122(d)(3)(i) balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Exchange Act. Servicer/Securities Unissued checks are safeguarded so as to prevent unauthorized Administrator/Master 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Servicer --------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain Servicer/Securities explanations for reconciling items. These reconciling Administrator/Master items are resolved within 90 calendar days of their Servicer original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and Securities regulations; and (D) agree with investors' or the Administrator/Servicer/Master trustee's records as to the total unpaid principal Servicer balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-Nc1)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction X agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms X specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related X 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, X or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal X 1122(d)(4)(v) balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction X 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and X concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and X describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122(d)(4)(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on X such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, X provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged X to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the X 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation X AB, is maintained as set forth in the transaction 1122(d)(4)(xv) agreements. ---------------------------------------------------------------------------------------------------------------------- [INDYMAC BANK, F.S.B.] [NAME OF SUBSERVICER] Date: ----------------------------------------------------- By: ----------------------------------------------------- Name: Title: EXHIBIT V Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Sexxxxxr] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-2000 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxm Attn: Xxxxxxxxx Xrust Servixxx - XXX 0000-0XX - XXX XXXXXX XXXXESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of December 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of [date], among Morgan Stanley Capital I Inc., as Depositor, IndyMac Bank, F.S.B., Xxxxs Xxxxx Bank, National Association, as Master Servicer, and LxXxxxe Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- --------------------- POOL ASSET ADMINISTRATION -------------------------- -------------------------------------------------------- --------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related 1122(d)(4)(i) asset pool documents. -------------------------- -------------------------------------------------------- --------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. -------------------------- -------------------------------------------------------- --------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance 1122(d)(4)(iv) with the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. -------------------------- -------------------------------------------------------- --------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. -------------------------- -------------------------------------------------------- --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). -------------------------- -------------------------------------------------------- --------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. -------------------------- -------------------------------------------------------- --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- EXHIBIT F MORTGAGE LOAN SCHEDULE [FILED HEREWITH AS EXHIBIT 99.1 and EXHIBIT 99.2] EXHIBIT G FORM OF REQUEST FOR RELEASE DATE: TO: RE: REQUEST FOR RELEASE OF DOCUMENTS In connection with the administration of the pool of Mortgage Loans held by you for the referenced pool, we request the release of the Mortgage Loan File described below. Pooling and Servicing Agreement, Dated: Series#: Account#: Pool#: Loan#: MIN#: Borrower Name(s): Reason for Document Request: (circle one) Mortgage Loan Prepaid in Full Mortgage Loan Repurchased "We hereby certify that all amounts received or to be received in connection with such payments which are required to be deposited have been or will be so deposited as provided in the Pooling and Servicing Agreement." ______________________________ Residential Funding Corporation Authorized Signature **************************************************************** TO CUSTODIAN/TRUSTEE: Please acknowledge this request, and check off documents being enclosed with a copy of this form. You should retain this form for your files in accordance with the terms of the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks3 Trust)
Exchange Act. Servicer/Securities Unissued checks are safeguarded so as to prevent unauthorized Administrator/Master 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Servicer ---------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for Servicer/Securities all asset-backed securities related bank accounts, Administrator/Master including custodial accounts and related bank clearing Servicer accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with Securities the Commission, are maintained in accordance with the Administrator/Servicer/Master transaction agreements and applicable Commission Servicer requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-H1)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) custodial bank statements. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-2)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans pool assets serviced 1122(d)(3)(i) serviced by the Servicerservicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- ---------------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks7 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) or custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-7)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(2)(vii) Reconciliations are prepared on X X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(3)(i) Reports to investors, including X X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ ------------------ ---------------------------------- ------------- ---------- ------------- ------------ ------------ ------------ REG AB REFERENCE SERVICING CRITERIA PRIMARY MASTER SECURITIES CUSTODIAN PAYING TRUSTEE SERVICER SERVICER ADMIN AGENT ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Amounts due to investors are X X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Disbursements made to an X X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Amounts remitted to investors X X X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ POOL ASSET ADMINISTRATION ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(iii) Any additions, removals or X X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Changes with respect to the X X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Loss mitigation or recovery X X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or 1122(d)(2)(vii) such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required X 1122(d)(4)(i) by the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the X transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Reconciliations are prepared on X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified 1122(d)(2)(vii) in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans Pool Assets 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Amounts due to investors are X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Disbursements made to an X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Amounts remitted to investors X X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- POOL ASSET ADMINISTRATION ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Collateral or security on pool X X assets is maintained as required by the transaction agreements or 1122(d)(4)(i) related pool asset documents. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Pool assets and related X X documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in 1122(d)(4)(iii) the transaction agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool 1122(d)(4)(iv) asset documents. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Changes with respect to the X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Loss mitigation or recovery X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Adjustments to interest rates or X rates of return for pool assets with variable rates are computed based on the related pool asset 1122(d)(4)(ix) documents. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Disbursements made on behalf of an X obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction 1122(d)(4)(xiii) agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- Any external enhancement or X X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- --------- -------- ------------- --------- ----------- ------- ----------- [TPW: NYLEGAL:420793.1] 17297-00302 01/18/2006 06:42 PM Schedule 1 Mortgage Insurance Component Schedule (Provided Upon Request)
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Exchange Act. Servicer/Securities Unissued checks are safeguarded so as to prevent unauthorized Administrator/Master 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Servicer -------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number Servicer/Securities of days specified in the transaction agreements; (C) Administrator/Master reviewed and approved by someone other than the person Servicer who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms Securities set forth in the transaction agreements; (B) provide Administrator/ information calculated in accordance with the terms Servicer/Master specified in the transaction agreements; (C) are filed Servicer with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-He7)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------- --------------- --------------- Reconciliations are prepared on a monthly basis for X all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed X with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------- --------------- --------------- Amounts due to investors are allocated and remitted X 1122(d)(3)(ii) in accordance with timeframes, -------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------- distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------- --------------- --------------- Disbursements made to an investor are posted within two X business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------- --------------- --------------- Amounts remitted to investors per the investor X reports agree with cancelled checks, or other form of 1122(d)(3)(iv) payment, or 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration -------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained X as required by the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. ------------------ ----------------------------------------------------------- --------------- --------------- Mortgage loan and related documents are safeguarded X 1122(d)(4)(ii) as required by the transaction agreements ------------------ ----------------------------------------------------------- --------------- --------------- Any additions, removals or substitutions to the asset X pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Payments on mortgage loans, including any payoffs, X made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ------------------ ----------------------------------------------------------- --------------- --------------- The Servicer's records regarding the mortgage loans X agree with the Servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. ------------------ ----------------------------------------------------------- --------------- --------------- Changes with respect to the terms or status of an X obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements 1122(d)(4)(vi) and related pool asset documents. ------------------ ----------------------------------------------------------- --------------- --------------- Loss mitigation or recovery actions (e.g., forbearance X plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). ------------------ ----------------------------------------------------------- --------------- --------------- Adjustments to interest rates or rates of return for X mortgage loans with variable rates are computed based 1122(d)(4)(ix) on the related mortgage loan documents. ------------------ ----------------------------------------------------------- --------------- --------------- Regarding any funds held in trust for an obligor X (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Payments made on behalf of an obligor (such as tax or X insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Any late payment penalties in connection with any X payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ------------------ ----------------------------------------------------------- --------------- --------------- Disbursements made on behalf of an obligor are posted X within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Delinquencies, charge-offs and uncollectible accounts X are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ------------------ ----------------------------------------------------------- --------------- --------------- Any external enhancement or other support, identified in X Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------------------------------------------------------------------------------------------- EXHIBIT I SARBANES CERTIFICATION Re: The [ ] agreement dated as of [ ], 200[ ] (the "Agreement"), among [IDENTIFY PARTIES] I, ________________________________, the _______________________ of [Name of Servicer] (the "Servicer"), certify to [the Purchaser], [the Depositor], and the [Master Servicer] [Securities Administrator] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:
Appears in 1 contract
Samples: And Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of X 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------- INVESTOR REMITTANCES AND REPORTING ------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction X agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with 1122(d)(3)(iv) cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------X ------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------- APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ------------------------------------------------------------------------------------------------------------------- REFERENCE CRITERIA ------------------------------------------------------------------------------------------------------------------- POOL ASSET ADMINISTRATION -------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Sale and Servicing Agreement (Banc of America Funding 2006-2 Trust)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(2)(vii) Reconciliations are prepared on X X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(3)(i) Reports to investors, including X X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Amounts due to investors are X X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Disbursements made to an X X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Amounts remitted to investors X X X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- POOL ASSET ADMINISTRATION ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(iii) Any additions, removals or X X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Changes with respect to the X X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Loss mitigation or recovery X X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(ix) Adjustments to interest rates or X X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in 1122(d)(4)(xiii) the transaction agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ ----------- Any external enhancement or X X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- ----------- ----------- ------------ ----------- ------------ -----------
Appears in 1 contract
Samples: Servicing Agreement (MILA Mortgage Acceptance, Inc.)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the X transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------- --------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria --------------------------------------------------------------------------------------------------- Reference Criteria --------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction X agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and 1122(d)(3)(i) number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution X priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, X or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other X 1122(d)(3)(iv) form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration --------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction X 1122(d)(4)(i) agreements or related mortgage loan documents. --------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded X 1122(d)(4)(ii) as required by the transaction agreements --------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance X with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. ---------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(2)(vii) Reconciliations are prepared on X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ----------- ----------- ----------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(3)(i) Reports to investors, including X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- Amounts due to investors are X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- Disbursements made to an X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(3)(iv) Amounts remitted to investors X X per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------ ----------- ----------- ----------- POOL ASSET ADMINISTRATION ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(i) Collateral or security on pool X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(ii) Pool assets and related X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(iii) Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Changes with respect to the X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Loss mitigation or recovery X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(ix) Adjustments to interest rates or X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Delinquencies, charge-offs and X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- Any external enhancement or X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- ------------ ----------- ----------- ----------- EXHIBIT P FORM 10-D, FORM 8-K AND FORM 10-K REPORTING RESPONSIBILITY As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the Trustee pursuant to Section 3.24(a)(iv). If the Trustee is indicated below as to any item, then the Trustee is primarily responsible for obtaining that information. Under Item 1 of Form 10-D: a) items marked "4.03 statement" are required to be included in the periodic Distribution Date statement under Section 6.07, provided by the Trustee based on information received from the Servicer; and b) items marked "Form 10-D report" are required to be in the Form 10-D report but not the 4.03 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2006-L1)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed o securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, o are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with o timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified o 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports o agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as o required by the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the o 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, o reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance o with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree o with the Servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage o loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, o modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period o a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for o mortgage loans with variable rates are computed based 1122(d)(4)(ix) on the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow o accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the Mortgage Loans, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance o payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on o behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two o business days to the obligor's records maintained by the servicer, or 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are o recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) o through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- SCHEDULE I BANA MORTGAGE LOAN SCHEDULE [Please see the Free Writing Prospectus filed and accepted by the Securities and Exchange Commission on April 30, 2007, with a filing date of April 30, 2007 and accession number 0001379434-07-000080.]
Appears in 1 contract
Exchange Act. X ---------------- ------------------- 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ---------------- ------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ---------------- ------------------- Amounts remitted to investors per the investor reports agree with 1122(d)(3)(iv) cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------- ------------------- Pool Asset Administration ---------------- ------------------- Collateral or security on mortgage loans is maintained as required by the 1122(d)(4)(i) transaction agreements or related mortgage loan documents. X ---------------- ------------------- Mortgage loan and related documents are safeguarded as required by the 1122(d)(4)(ii) transaction agreements X ---------------- ------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. X ---------------- ------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. X ---------------- ------------------- The Servicer's records regarding the mortgage loans agree with the 1122(d)(4)(v) Servicer's records with respect to an obligor's unpaid principal balance. X ---------------- ------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. X ---------------- ------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. X ---------------- ------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). X ---------------- ------------------- Adjustments to interest rates or rates of return for mortgage loans with 1122(d)(4)(ix) variable rates are computed based on the related mortgage loan documents. X ---------------- ------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. X ---------------- ------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. X ---------------- ------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. X ---------------- ------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other 1122(d)(4)(xiii) number of days specified in the transaction agreements. X ---------------- ------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. X ---------------- ------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ------------------------------------------------------------------------------------------------------------------------- ASSIGNMENT AND RECOGNITION AGREEMENT THIS ASSIGNMENT AND RECOGNITION AGREEMENT, dated June 29, 2007 (the "Agreement"), among Sutton Funding LLC (the "Assignor"), BCAP LLC ("Assignee"), Countrywide Xxxx Loans Servicing LP (the "Servicer"), Countrywide Home Loans, Inc. (the "Company") and Deutsche Bank National Trust Company, as trustee (the "Trustee"): For and in consideration of the mutual promises and agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: Assignment and Conveyance -------------------------
Appears in 1 contract
Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa4)
Exchange Act. Unissued checks are safeguarded so as If applicable If applicable 1122(d)(2)(vi) to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- ------------------- Reconciliations are prepared on a X X monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- ------------------- Reports to investors, including those X X to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans Pool 1122(d)(3)(i) Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- ------------------- Amounts due to investors are X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in 1122(d)(3)(ii) the transaction agreements. ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- ------------------- Disbursements made to an investor are X X posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- --------------------------------------- ------------------- ------------------- ------------------- Amounts remitted to investors per the X X investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------- ------------------- ------------------- ------------------- P-2-3 ------------------ --------------------------------------- ------------------- ------------------- ------------------- REG AB REFERENCE SERVICING CRITERIA XXXXXX LOAN BANK OF NEW YORK JPMORGAN CHASE SERVICING LP (CUSTODIAN) BANK (TRUSTEE) (SERVICER) ------------------ --------------------------------------- ------------------- ------------------- ------------------- POOL ASSET ADMINISTRATION ------------------ --------------------------------------- ------------------- ------------------- ------------------- Collateral or security on pool assets X is maintained as required by the transaction agreements or related 1122(d)(4)(i) pool asset documents. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Pool assets and related documents X are safeguarded as required by the 1122(d)(4)(ii) transaction agreements ------------------ --------------------------------------- ------------------- ------------------- ------------------- Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Payments on pool assets, including X any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the 1122(d)(4)(iv) related pool asset documents. ------------------ --------------------------------------- ------------------- ------------------- ------------------- The Servicer's records regarding the X pool assets agree with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Changes with respect to the terms or X status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Loss mitigation or recovery actions X (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------ --------------------------------------- ------------------- ------------------- ------------------- Adjustments to interest rates or X rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. ------------------ --------------------------------------- ------------------- ------------------- ------------------- P-2-4 ------------------ --------------------------------------- ------------------- ------------------- ------------------- REG AB REFERENCE SERVICING CRITERIA XXXXXX LOAN BANK OF NEW YORK JPMORGAN CHASE SERVICING LP (CUSTODIAN) BANK (TRUSTEE) (SERVICER) ------------------ --------------------------------------- ------------------- ------------------- ------------------- Regarding any funds held in trust for X an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Payments made on behalf of an obligor X (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was 1122(d)(4)(xii) due to the obligor's error or omission. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Disbursements made on behalf of an X obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in 1122(d)(4)(xiii) the transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Delinquencies, charge-offs and X uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- Any external enhancement or other X support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ --------------------------------------- ------------------- ------------------- ------------------- *For d(2)(iv) Servicer needs to provide only if it is deemed that the Collection Account is subject to this critieria. *For d(2)(v) Trustee needs to provide only if it is deemed that any account maintained by the Trustee is a custodial account for purposes of the servicing criteria. Subject to further clarification from the SEC. XXXXXXX X-0 XXXX XX XXXXXXXX-XXXXX CERTIFICATION (SERVICER) 2006-1 TRUST, OWNIT MORTGAGE LOAN ASSET-BACKED CERTIFICATES, SERIES 2006-1 Re: Ownit Mortgage Loan Trust, Mortgage Loan Asset-Backed Certificates, Series 2006-1 I, [identify the certifying individual], certify that:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2006-1)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the X transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction X agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and 1122(d)(3)(i) number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution X priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, X or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(2)(vii) Reconciliations are prepared on X X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(3)(i) Reports to investors, including X X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Amounts due to investors are X X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Disbursements made to an X X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Amounts remitted to investors X X X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ POOL ASSET ADMINISTRATION ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(iii) Any additions, removals or X X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Changes with respect to the X X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Loss mitigation or recovery X X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(ix) Adjustments to interest rates or X X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ Any external enhancement or X X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- ------------ ------------ ------------ ------------ ------------ ------------ EXHIBIT O FORM 10-D, FORM 8-K AND FORM 10-K REPORTING RESPONSIBILITY As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the Securities Administrator pursuant to Section 3.18(a)(iv). If the Securities Administrator is indicated below as to any item, then the Securities Administrator is primarily responsible for obtaining that information. Under Item 1 of Form 10-D: a) items marked "6.07 statement" are required to be included in the periodic Distribution Date statement under Section 6.07, provided by the Securities Administrator based on information received from the Master Servicer; and b) items marked "Form 10-D report" are required to be in the Form 10-D report but not the 6.07 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, 1122(d)(2)(vii) or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in X accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans serviced 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- POOL ASSET ADMINISTRATION -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related 1122(d)(4)(i) asset pool documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance 1122(d)(4)(iv) with the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- EXHIBIT F MORTGAGE LOAN SCHEDULE [FILED HEREWITH AS EXHIBIT 99.1] EXHIBIT G FORM OF REQUEST FOR RELEASE DATE: TO: RE: REQUEST FOR RELEASE OF DOCUMENTS In connection with the administration of the pool of Mortgage Loans held by you for the referenced pool, we request the release of the Mortgage Loan File described below. Pooling and Servicing Agreement, Dated: Series#: Account#: Pool#: Loan#: MIN#: Borrower Name(s): Reason for Document Request: (circle one) Mortgage Loan Prepaid in Full Mortgage Loan Repurchased "We hereby certify that all amounts received or to be received in connection with such payments which are required to be deposited have been or will be so deposited as provided in the Pooling and Servicing Agreement." ______________________________ Residential Funding Corporation Authorized Signature **************************************************************** TO CUSTODIAN/TRUSTEE: Please acknowledge this request, and check off documents being enclosed with a copy of this form. You should retain this form for your files in accordance with the terms of the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks4)
Exchange Act. Appendix C-1 -------------------------------------------------------------------------------- Applicable Servicing Reg AB Reference Servicing Criteria Criteria -------------------------------------------------------------------------------- Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans Pool Assets serviced by 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration -------------------------------------------------------------------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or 1122(d)(4)(i) related pool asset documents. -------------------------------------------------------------------------------- Pool assets and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements -------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. -------------------------------------------------------------------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to 1122(d)(4)(iv) principal, -------------------------------------------------------------------------------- Appendix C-2 -------------------------------------------------------------------------------- Applicable Servicing Reg AB Reference Servicing Criteria Criteria -------------------------------------------------------------------------------- interest or other items (e.g., escrow) in accordance with the related pool asset documents. -------------------------------------------------------------------------------- The Servicer's records regarding the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. -------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and 1122(d)(4)(vi) related pool asset documents. -------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. -------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). -------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset 1122(d)(4)(ix) documents. -------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in 1122(d)(4)(x) the transaction agreements. -------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction 1122(d)(4)(xi) agreements. -------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. -------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two 1122(d)(4)(xiii) business days to the obligor's -------------------------------------------------------------------------------- Appendix C-3 -------------------------------------------------------------------------------- Applicable Servicing Reg AB Reference Servicing Criteria Criteria -------------------------------------------------------------------------------- records maintained by the servicer, or such other number of days specified in the transaction agreements. -------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. -------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------------------------------------------------------------- [JPMORGAN CHASE BANK, NATIONAL ASSOCIATION] [USAA FEDERAL SAVINGS BANK] By: --------------------------------------- Name: Title: Date: ------------------------------------- Appendix C-4 APPENDIX D Form of Performance Certification CERTIFICATION Re: USAA Auto Owner Trust 2006-3 ---------------------------- The undersigned [Indenture Trustee] [Reporting Subcontractor] hereby certifies to the [ ] and its officers, directors and Affiliates (collectively, the "Certification Parties") as follows, with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification concerning the Trust to be signed by an officer of the Servicer and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:
Appears in 1 contract
Samples: Sale and Servicing Agreement (USAA Auto Owner Trust 2006-3)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized Servicer/Securities Administrator 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all Servicer/Securities Administrator asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items Servicer/Securities are resolved within 90 calendar days of their original identification, or such other number 1122(d)(2)(vii) Administrator of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Securities Administrator/Servicer Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in Securities Administrator/Servicer accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two Securities Administrator/Servicer business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree Securities Administrator/Servicer with cancelled checks, or other Securities Administrator/Servicer form of payment, or custodial bank 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration --------------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as Custodian/Servicer required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. --------------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as Custodian/Servicer 1122(d)(4)(ii) required by the transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool Custodian/Servicer theare made, reviewed and approved Custodian/Servicer in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in Servicer accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. --------------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with Servicer the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's Servicer mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. --------------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, Servicer modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during Servicer the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness 1122(d)(4)(viii) or unemployment). --------------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage Servicer loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. --------------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as Servicer escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days 1122(d)(4)(x) specified Servicer in the transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or Servicer insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) Servicer transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to Servicer be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. --------------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within Servicer two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. --------------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are Servicer/Securities Administrator recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. --------------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item Securities Administrator, if applicable. 1114(a)(1) through (3) or Item 1115 of Regulation AB, is 1122(d)(4)(xv) maintained as set forth in the transaction agreements. --------------------------------------------------------------------------------------------------------------------------- EXHIBIT P ADDITIONAL FORM 10-D DISCLOSURE Item on Form 10-D Party Responsible -------------------------------------------------------------------------------- Item 1: Distribution and Pool Servicer Performance Information Securities Administrator Depositor
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Wm1)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance X with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction X agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- General Servicing Considerations ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction X agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. X ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the 1122(d)(4)(ii) transaction agreements X ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-2)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms X specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related X 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(i) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related X 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Applicable Servicing Criteria Servicing Criteria ----------------------------------------------------------------------------------------------------------------------------------- Reference Criteria ----------------------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such X 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ----------------------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ----------------------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ----------------------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are X made, reviewed and approved in accordance with any conditions 1122(d)(4)(iii) or requirements in the transaction agreements. ----------------------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ----------------------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with X the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. -----------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (GSAA Home Equity Trust 2007-6)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, 1122(d)(2)(vii) or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- INVESTOR REMITTANCES AND REPORTING ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, 1122(d)(3)(ii) distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's 1122(d)(3)(iii) investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or 1122(d)(3)(iv) other form of payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- POOL ASSET ADMINISTRATION ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Collateral or security on pool assets is maintained as required by the transaction 1122(d)(4)(i) agreements or related asset pool documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Pool assets and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved 1122(d)(4)(iii) in accordance with any conditions or requirements in the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- The servicer's records regarding the pool assets agree with the servicer's records with 1122(d)(4)(v) respect to an obligor's unpaid principal balance. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in 1122(d)(4)(vi) accordance with the transaction agreements and related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are 1122(d)(4)(ix) computed based on the related pool asset documents. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late 1122(d)(4)(xii) payment was due to the obligor's error or omission. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in 1122(d)(4)(xiii) the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or 1122(d)(4)(xv) Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. ----------------------------------------- -------------------------------------------------------------------------------------------- ----------------------------------- EXHIBIT F MORTGAGE LOAN SCHEDULE [ON FILE AT RFC] EXHIBIT G FORM OF REQUEST FOR RELEASE DATE: TO: RE: REQUEST FOR RELEASE OF DOCUMENTS In connection with the administration of the pool of Mortgage Loans held by you for the referenced pool, we request the release of the Mortgage Loan File described below. Pooling and Servicing Agreement, Dated: Series#: Account#: Pool#: Loan#: MIN#: Borrower Name(s): Reason for Document Request: (circle one) Mortgage Loan Prepaid in Full Mortgage Loan Repurchased "We hereby certify that all amounts received or to be received in connection with such payments which are required to be deposited have been or will be so deposited as provided in the Pooling and Servicing Agreement." ______________________________ Residential Funding Company, LLC Authorized Signature **************************************************************** TO CUSTODIAN/TRUSTEE: Please acknowledge this request, and check off documents being enclosed with a copy of this form. You should retain this form for your files in accordance with the terms of the Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2007-Ks4 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the X bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are X prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. X ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, X or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal X 1122(d)(4)(v) balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and X approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and X repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction X agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122(d)(4)(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on X such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, X provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged X to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the X 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [FIFTH THIRD MORTGAGE COMPANY] [NAME OF SUBSERVICER] Date: ---------------------------------------------- By: ----------------------------------------------- Name: Title: EXHIBIT C-1 Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Sxxxxxer] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-0000 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xom Attx: Xxxxxxxxx Trust Servxxxx - XXX 0000-00XX - XXX XXXXXX XXOCESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of December 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of [date], among Morgan Stanley Capital I Inc., as Depositor, Fifth Third Mortgagx Xxxxaxx, Xxxls Fargo Bank, National Association, as Master Servicer, and XxXxxle Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title:
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs)
Exchange Act. Servicer/Securities 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Administrator/Master Servicer ------------------------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed Servicer/Securities securities related bank accounts, including custodial accounts and Administrator/Master Servicer related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, Servicer/Securities are maintained in accordance with the transaction agreements and Administrator/Master Servicer applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with Servicer/Securities timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the Administrator/Master Servicer 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to Servicer/Securities the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified Administrator/Master Servicer 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with Servicer/Securities 1122(d)(3)(iv) cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------Administrator/Master Servicer ------------------------------------------------------------------------------------------------------------------------------------ Pool Asset Administration ------------------------------------------------------------------------------------------------------------------------------------ Collateral or security on mortgage loans is maintained as required by Custodian/Servicer/ 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ Mortgage loan and related documents are safeguarded as required by the Custodian/Servicer/ 1122(d)(4)(ii) transaction agreements ------------------------------------------------------------------------------------------------------------------------------------ Any additions, removals or substitutions to the asset pool are made, Securities reviewed and approved in accordance with any conditions or requirements Administrator/Servicer 1122(d)(4)(iii) in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments on mortgage loans, including any payoffs, made in accordance Servicer with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ The Servicer's records regarding the mortgage loans agree with the Servicer 1122(d)(4)(v) Servicer's records with respect to an obligor's unpaid principal balance. ------------------------------------------------------------------------------------------------------------------------------------ Changes with respect to the terms or status of an obligor's mortgage Servicer loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ------------------------------------------------------------------------------------------------------------------------------------ Loss mitigation or recovery actions (e.g., forbearance plans, Servicer modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Records documenting collection efforts are maintained during the period a Servicer mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------------------------------------------------------------------------------------------------------------------------ Adjustments to interest rates or rates of return for mortgage loans with Servicer 1122(d)(4)(ix) variable rates are computed based on the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------------------------------ Regarding any funds held in trust for an obligor (such as escrow Servicer accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. ------------------------------------------------------------------------------------------------------------------------------------ Payments made on behalf of an obligor (such as tax or insurance payments) Servicer are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Any late payment penalties in connection with any payment to be made on Servicer behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. ------------------------------------------------------------------------------------------------------------------------------------ Disbursements made on behalf of an obligor are posted within two business Servicer days to the obligor's records maintained by the servicer, or such other 1122(d)(4)(xiii) number of days specified in the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ Delinquencies, charge-offs and uncollectible accounts are recognized and Servicer/Securities 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. Administrator ------------------------------------------------------------------------------------------------------------------------------------ Any external enhancement or other support, identified in Item 1114(a)(1) Securities Administrator through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ------------------------------------------------------------------------------------------------------------------------------------ EXHIBIT T Additional Form 10-D Disclosure ------------------------------------------------------------------------------------------------------- ADDITIONAL FORM 10-D DISCLOSURE ------------------------------------------------------------------------------------------------------- Item on Form 10-D Party Responsible ------------------------------------------------------------------------------------------------------- Item 1: Distribution and Pool Performance Information ------------------------------------------------------------------------------------------------------- Information included in the Monthly Statement Servicers/ Master Servicer/ Securities Administrator ------------------------------------------------------------------------------------------------------- Any information required by Item 1121 of Regulation Depositor AB which is NOT included on the Monthly Statement -------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He5)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X X 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------- --------- --------- ---------- ----------- Reconciliations are prepared on a monthly basis for X X all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------- --------- --------- ---------- ----------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------------------------------------- --------- --------- ---------- ----------- 1122(d)(3)(i) Reports to investors, including those to be filed with X X the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008 -1 Trust)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X X 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling X X items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the X X trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-19 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ --------------- 1122(d)(2)(vii) Reconciliations are prepared on X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ---------------------------------- ------------ ------------ --------------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ --------------- 1122(d)(3)(i) Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ --------------- Amounts due to investors are X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ --------------- Disbursements made to an X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------- ------------ ------------ --------------- Amounts remitted to investors X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------ ------------ --------------- POOL ASSET ADMINISTRATION ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(iii) Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ------------------ ---------------------------------- ------------ ------------ --------------- The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ---------------------------------- ------------ ------------ --------------- Changes with respect to the X X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ ---------------------------------- ------------ ------------ --------------- Loss mitigation or recovery X X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(ix) Adjustments to interest rates or X X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ------------------ ---------------------------------- ------------ ------------ --------------- 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ------------------ ---------------------------------- ------------ ------------ --------------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ ---------------------------------- ------------ ------------ --------------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ------------------ ---------------------------------- ------------ ------------ --------------- Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ------------------ ---------------------------------- ------------ ------------ --------------- Delinquencies, charge-offs and X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ---------------------------------- ------------ ------------ --------------- Any external enhancement or X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ---------------------------------- ------------ ------------ --------------- ___________ *Subject to clarification from the SEC. EXHIBIT D FORM OF ASSIGNMENT AND RECOGNITION AGREEMENT EXHIBIT E REQUEST FOR RELEASE TO: [____________] Re: Pooling and Servicing Agreement dated as of [___________], among [_________], as Depositor, [___________] as Servicer, [___________] as Trust Administrator and [_________] as Trustee ------------------------------------------------------------------ In connection with the administration of the Mortgage Loans held by you as Trustee for the Owner pursuant to the above-captioned Agreement, we request the release, and hereby acknowledge receipt, of the Trustee's Mortgage File for the Mortgage Loan described below, for the reason indicated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Pool Asset Administration ------------------------------------------------------------------------------------------------------------------ Collateral or security on mortgage loans is maintained as required by the transaction agreements or related X 1122(d)(4)(i) mortgage loan documents. ------------------------------------------------------------------------------------------------------------------ Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ------------------------------------------------------------------------------------------------------------------ Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- EXH. B-1-2 ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance X with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(iv) ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the X Servicer's records with respect to an obligor's unpaid principal balance. 1122(d)(4)(v) ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage X loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, X modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(vii) ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period X a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(viii) ---------------------------------------------------------------------------------------------------------------------- EXH. B-1-3 ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with X variable rates are computed based on the related mortgage loan 1122( d)( 4 )(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow X accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122( d)( 4 )(x) ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance X payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122( d)( 4 )(xi) ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on X behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or omission. 1122(d)(4)(xii) ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two X business days to the obligor's records maintained by the servicer, or 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and X 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [AMERICAN HOME] [XXXX XX SUBSERVICER] Date: ------------------------------------ By: ------------------------------------ Name: Title: EXHIBIT C Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Xxxxxcer] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-0000 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.com Atxx: Xxxxxxxxx Trust Serxxxxx - XXX 0000-0XX - XXX XXXXXX XXOCESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of January 1, 2006, as amended by the Assignment, Assumption and Recognition Agreement dated as of April 1, 2006 among Morgan Stanley Capital I Inc., as Depositor, American Home Mortxxxx Xoxx., Xxlls Fargo Bank, National Association, as Master Servicer, and XxXxlle Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________________ Name: Title:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance X with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal 1122(d)(3)(i) balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related X 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, X or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal X 1122(d)(4)(v) balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and X approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and X concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and X describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122(d)(4)(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on X such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, X provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged X to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the X 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [MORGAN STANLEY CREDIT CORPORATION] [NXXX XX SUBSERVICER] Date: ___________________________________ By: ___________________________________ Name: Title: EXHIBIT B-1 Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Servixxx] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-2380 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx Xttn: Xxxxxxxxx Xxxxt Services - XXX 0000-00 - XXX XXXXXX XXXXXXXXNG RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [7.03(d)][7.03(e)][7.03(g)] of the Purchase Agreement, dated as of November 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of [date] among Morgan Stanley Capital I Inc., as Depositor, Morgan Stanley Credit Cxxxxxxtxxx, Xxlls Fargo Bank, National Associxxxxx, xx Xxxxer Servicer, and LaSaxxx Xank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title: EXHIBIT C-1 FORM OF ANNUAL CERTIFICATION Re: The [ ] agreement dated as of [ ], 200[ ] (the "Agreement"), among [IDENTIFY PARTIES] I, ________________________________, the _____________________ of Morgan Stanley Credit Corporation, certify to [the Purchaser], [the Xxxxxxtxx], xxd the [Master Servicer] [Securities Administrator] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------- ---------------------------------------------------------------- --------------- --------------- 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------- ---------------------------------------------------------------- --------------- --------------- INVESTOR REMITTANCES AND REPORTING --------------- ---------------------------------------------------------------- --------------- --------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------- ---------------------------------------------------------------- --------------- --------------- --------------- ---------------------------------------------------------------- --------------- --------------- REG AB SERVICING CRITERIA APPLICABLE INAPPLICABLE REFERENCE SERVICING SERVICING CRITERIA CRITERIA --------------- ---------------------------------------------------------------- --------------- --------------- POOL ASSET ADMINISTRATION (CONT'D) --------------- ---------------------------------------------------------------- --------------- --------------- 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------- ---------------------------------------------------------------- --------------- --------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------- ---------------------------------------------------------------- --------------- --------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------- --------------- --------------- POOL ASSET ADMINISTRATION --------------- ---------------------------------------------------------------- --------------- --------------- 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. --------------- ---------------------------------------------------------------- --------------- --------------- Mortgage loan and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements --------------- ---------------------------------------------------------------- --------------- --------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions 1122(d)(4)(iii) or requirements in the transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. --------------- ---------------------------------------------------------------- --------------- --------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------- ---------------------------------------------------------------- --------------- --------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. --------------- ---------------------------------------------------------------- --------------- --------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). --------------- ---------------------------------------------------------------- --------------- --------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. --------------- ---------------------------------------------------------------- --------------- --------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. --------------- ---------------------------------------------------------------- --------------- --------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. --------------- ---------------------------------------------------------------- --------------- --------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is 1122(d)(4)(xv) maintained as set forth in the transaction agreements. --------------- ---------------------------------------------------------------- --------------- --------------- EXHIBIT E FORM OF SARBANES CERTIFICATION Re: The [ ] agreement dated as of [ ], 200[ ] (the "Agreement"), among [IDENTIFY PARTIES] I, ________________________________, the _______________________ of [Name of Servicer], certify to [the Owner], [the Depositor], and the [Master Servicer] [Securities Administrator] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:
Appears in 1 contract
Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone X other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or 1122(d)(2)(vii) such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance X with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- EXH. B-1-2
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)
Exchange Act. X ---------------- ------------------- 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ---------------- ------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ---------------- ------------------- Amounts remitted to investors per the investor reports agree with 1122(d)(3)(iv) cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------- ------------------- Pool Asset Administration ---------------- ------------------- Collateral or security on mortgage loans is maintained as required by the 1122(d)(4)(i) transaction agreements or related mortgage loan documents. X ---------------- ------------------- Mortgage loan and related documents are safeguarded as required by the 1122(d)(4)(ii) transaction agreements X ---------------- ------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. X ---------------- ------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. X ---------------- ------------------- The Servicer's records regarding the mortgage loans agree with the 1122(d)(4)(v) Servicer's records with respect to an obligor's unpaid principal balance. X ---------------- ------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. X ---------------- ------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. X ---------------- ------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). X ---------------- ------------------- Adjustments to interest rates or rates of return for mortgage loans with 1122(d)(4)(ix) variable rates are computed based on the related mortgage loan documents. X ---------------- ------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. X ---------------- ------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. X ---------------- ------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or 1122(d)(4)(xii) omission. X ---------------- ------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other 1122(d)(4)(xiii) number of days specified in the transaction agreements. X ---------------- ------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. X ---------------- ------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ------------------------------------------------------------------------------------------------------------------------- EXHIBIT N-3 CHEVY CHASE ASSIGNMENT AGREEMENT ASSIGNMENT AND RECOGNITION AGREEMENT THIS ASSIGNMENT AND RECOGNITION AGREEMENT, dated June 29, 2007 ("Agreement"), among Sutton Funding, LLC ( the "Assignor"), BCAP LLC ("Assignee"), Chevy Chaxx Xxxk, F.S.B., as servicer (in such capacity, the "Servicer"), and as seller (in such capacity, the "Company") and Deutsche Bank National Trust Company, as trustee (the "Trustee"): For and in consideration of the mutual promises and agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: Assignment and Conveyance -------------------------
Appears in 1 contract
Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa4)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as X to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(2)(vii) Reconciliations are prepared on a X X X X X monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ INVESTOR REMITTANCES AND REPORTING ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(3)(i) Reports to investors, including X X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Amounts due to investors are X X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Disbursements made to an investor X X X X X are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Amounts remitted to investors per X X X X X the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ POOL ASSET ADMINISTRATION ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(ii) Pool assets and related documents X X are safeguarded as required by the transaction agreements ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(iii) Any additions, removals or X X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(iv) Payments on pool assets, including X any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ The Servicer's records regarding the X pool assets agree with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Changes with respect to the terms X X or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Loss mitigation or recovery actions X X (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established 1122(d)(4)(vii) by the transaction agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(viii) Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(ix) Adjustments to interest rates or X X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ 1122(d)(4)(x) Regarding any funds held in trust X for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's 1122(d)(4)(xii) error or omission. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Disbursements made on behalf of an X obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction 1122(d)(4)(xiii) agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------ Any external enhancement or other X X support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction 1122(d)(4)(xv) agreements. ----------------- ------------------------------------- ------------- ---------- ------------- ------------ --------- ------------
Appears in 1 contract
Samples: Servicing Agreement (Nomura Home Equity Loan, Inc.)
Exchange Act. Unissued checks are safeguarded X so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Reconciliations are prepared on X X X X a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified 1122(d)(2)(vii) in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- INVESTOR REMITTANCES AND REPORTING ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(3)(i) Reports to investors, including X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Amounts due to investors are X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Disbursements made to an X X X X investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Amounts remitted to investors X X X X per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- POOL ASSET ADMINISTRATION ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(i) Collateral or security on pool X X assets is maintained as required by the transaction agreements or related pool asset documents. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(iii) Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- The Servicer's records regarding X the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Changes with respect to the X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Loss mitigation or recovery X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction 1122(d)(4)(vii) agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(ix) Adjustments to interest rates or X rates of return for pool assets with variable rates are computed based on the related pool asset documents. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- 1122(d)(4)(x) Regarding any funds held in X trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Disbursements made on behalf of X an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction 1122(d)(4)(xiii) agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- Any external enhancement or X X other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ----------------- ---------------------------------- ------------ ----------- ----------- --------- --------- --------- --------- EXHIBIT V FORM 10-D, FORM 8-K AND FORM 10-K REPORTING RESPONSIBILITY As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the party identified as responsible for preparing the Securities Exchange Act Reports pursuant to Section 3.18(a)(iv). An asterisk indicates that the Responsible Party is responsible for aggregating the information it receives from other Responsible Parties. Under Item 1 of Form 10-D: a) items marked "6.07 statement" are required to be included in the periodic Distribution Date statement under Section 6.07, provided by the Securities Administrator based on information received from the Master Servicer; and b) items marked "Form 10-D report" are required to be in the Form 10-D report but not the 6.07 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- 1122(d)(3)(i) ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X 1122(d)(4)(i) the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, X reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance X with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(iv) ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the X Servicer's records with respect to an obligor's unpaid principal balance. 1122(d)(4)(v) ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage X loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, X modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(vii) ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period X a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(viii) ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with X variable rates are computed based on the related mortgage loan 1122( d)( 4 )(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow X accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122( d)( 4 )(x) ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance X payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122( d)( 4 )(xi) ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on X behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or omission. 1122(d)(4)(xii) ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two X business days to the obligor's records maintained by the servicer, or 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and X 1122(d)(4)(xiv) recorded in accordance with the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [MORGAN STANLEY CREDIT CORPORATION] [NXXX XX SUBSERVICER] Date: -------------------------------------- By: ------------------------------------- Name: Title: EXHIBIT B-1 Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Xxxxicer] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 710-0000 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.com Axxx: Xxxxxxxxe Trust Sexxxxxx - XXX 0000-0XX - XXX XXXXXX XROCESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [7.03(d)][7.03(e)][7.03(g)] of the Purchase Agreement, dated as of November 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of April 1, 2006 among Morgan Stanley Capital I Inc., as Depositor, Morgan Stanley Crxxxx Xoxxxxxxxon, Wells Fargo Bank, National Xxxxxxaxxxx, xs Master Servicer, anx XxXalle Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: ____________________________ Name: Title: EXHIBIT C-1 FORM OF ANNUAL CERTIFICATION Re: The [ ] agreement dated as of [ ], 200[ ] (the "Agreement"), among [IDENTIFY PARTIES] I, ________________________________, the _____________________ of Morgan Stanley Credit Corporation, certify to [the Purchaser], [xxx Dxxxxxxxr], and the [Master Servicer] [Securities Administrator] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ----------------------- -------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of 1122(d)(3)(iv) payment, or 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- Pool Asset Administration ----------------------- -------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements 1122(d)(4)(i) or related mortgage loan documents. ----------------------- -------------------------- Mortgage loan and related documents are safeguarded 1122(d)(4)(ii) as required by the transaction agreements. ----------------------- -------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. ----------------------- -------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan 1122(d)(4)(iv) documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. ----------------------- -------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. ----------------------- -------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. ----------------------- -------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ----------------------- -------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). ----------------------- -------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based 1122(d)(4)(ix) on the related mortgage loan documents. ----------------------- -------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are 1122(d)(4)(x) analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. ----------------------- -------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ----------------------- -------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. ----------------------- -------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. ----------------------- -------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ----------------------- -------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ----------------------- -------------------------- [NAME OF MASTER SERVICER] [NAME OF TRUSTEE] [NAME OF CO-TRUSTEE] [NAME OF SUBSERVICER] Date: _________________________ By: ________________________________ Name: Title: EXHIBIT X [FORM OF] LIST OF ITEM 1119 PARTIES ALTERNATIVE LOAN TRUST 200_-__ MORTGAGE PASS-THROUGH CERTIFICATES, Series 200_-__ [Date] ------------------------------------------------------------------------------- Party Contact Information ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- EXHIBIT Y FORM OF SARBANES-OXLEY CERTIFICATION (REPLACEMENT OF MASTER SERVICER)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-12cb)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- --------------------- POOL ASSET ADMINISTRATION -------------------------- -------------------------------------------------------- --------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related 1122(d)(4)(i) asset pool documents. -------------------------- -------------------------------------------------------- --------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. -------------------------- -------------------------------------------------------- --------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance 1122(d)(4)(iv) with the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. -------------------------- -------------------------------------------------------- --------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. -------------------------- -------------------------------------------------------- --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). -------------------------- -------------------------------------------------------- --------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. -------------------------- -------------------------------------------------------- --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- EXHIBIT T-1 FORM OF FORM 10-K CERTIFICATION I, [identify the certifying individual], certify that:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks3 Trust)
Exchange Act. Unissued checks are safeguarded so X 1122(d)(2)(vi) as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Reconciliations are prepared on a X X X X X monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in 1122(d)(2)(vii) the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- INVESTOR REMITTANCES AND REPORTING ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Reports to investors, including X X X X those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans Pool Assets 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Amounts due to investors are X X X X X allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction 1122(d)(3)(ii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Disbursements made to an investor X X X X X are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Amounts remitted to investors per X X X X X the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- POOL ASSET ADMINISTRATION ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Collateral or security on pool X X assets is maintained as required by the transaction agreements or 1122(d)(4)(i) related pool asset documents. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Pool assets and related documents X X are safeguarded as required by the 1122(d)(4)(ii) transaction agreements ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Any additions, removals or X X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Payments on pool assets, including X any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with 1122(d)(4)(iv) the related pool asset documents. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- The Servicer's records regarding the X pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Changes with respect to the terms X X or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related 1122(d)(4)(vi) pool asset documents. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Loss mitigation or recovery X X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established 1122(d)(4)(vii) by the transaction agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Records documenting collection X efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Adjustments to interest rates or X X rates of return for pool assets with variable rates are computed based on the related pool asset 1122(d)(4)(ix) documents. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Regarding any funds held in trust X for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Payments made on behalf of an X obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in 1122(d)(4)(xi) the transaction agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Any late payment penalties in X connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Disbursements made on behalf of an X obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction 1122(d)(4)(xiii) agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Delinquencies, charge-offs and X X X uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- ----------- Any external enhancement or other X X support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ------------------ ------------------------------------ ----------- ----------- ----------- ----------- ----------- -----------
Appears in 1 contract
Samples: Servicing Agreement (Opteum Mortgage Acceptance CORP)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) pool assets serviced by the Servicer1122(d)(3)(i) servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- POOL ASSET ADMINISTRATION -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related 1122(d)(4)(i) asset pool documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance 1122(d)(4)(iv) with the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- -------------------------- -------------------------------------------------------- --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- EXHIBIT T-1 FORM OF FORM 10-K CERTIFICATION I, [identify the certifying individual], certify that:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks4)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank X accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in X accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Amounts due to investors are allocated and remitted in accordance with timeframes, X 1122(d)(3)(ii) distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Disbursements made to an investor are posted within two business days to the Servicer's X 1122(d)(3)(iii) investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other X 1122(d)(3)(iv) form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- -------------- Pool Asset Administration --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(i) Collateral or security on pool assets is maintained as required by the transaction X agreements or related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(ii) Pool assets and related documents are safeguarded as required by the transaction agreements X --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved X in accordance with any conditions or requirements in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(iv) Payments on pool assets, including any payoffs, made in accordance with the related pool X asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- The Servicer's records regarding the pool assets agree with the Servicer's records with X 1122(d)(4)(v) respect to an obligor's unpaid principal balance. --------------------- ---------------------------------------------------------------------------------------------- -------------- Changes with respect to the terms or status of an obligor's pool assets (e.g., loan X modifications or re-agings) are made, reviewed and approved by authorized personnel in 1122(d)(4)(vi) accordance with the transaction agreements and related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in X lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a pool asset is X delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(ix) Adjustments to interest rates or rates of return for pool assets with variable rates are X computed based on the related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds X are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or X before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor X are paid from the Servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. --------------------- ---------------------------------------------------------------------------------------------- -------------- Disbursements made on behalf of an obligor are posted within two business days to the X obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in X 1122(d)(4)(xiv) accordance with the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1122(d)(4)(xv) 1115 of Regulation AB, is maintained as set forth in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- [NAME OF OWNER] [NAME OF SUBSERVICER] Date: _________________________ By: _________________________ Name: Title: EXHIBIT K REPORTING DATA FOR REALIZED LOSSES AND GAINS Calculation of Realized Loss/Gain Form 332- Instruction Sheet NOTE: Do not net or combine items. Show all expenses individually and all credits as separate line items. Claim packages are due within 90 days of liquidation. Late submissions may result in claims not being passed until the following month. The Servicer is responsible to remit all funds pending loss approval and /or resolution of any disputed items. The numbers on the 332 form correspond with the numbers listed below. Liquidation and Acquisition Expenses: 1. The Actual Unpaid Principal Balance of the Mortgage Loan. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is required.
Appears in 1 contract
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified X in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or 1122(d)(2)(vii) such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ----------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction o agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) o are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------1122(d)(3)(i)
Appears in 1 contract
Samples: Servicing Agreement (Banc of America Funding 2006-I Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed o securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- o ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, o are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid 1122(d)(3)(i) principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with o timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified o 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports o agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) or custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as o required by the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the o 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, o reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance o with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree o with the Servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage o loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, o modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period o a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for o mortgage loans with variable rates are computed based 1122(d)(4)(ix) on the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow o accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the Mortgage Loans, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance o payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on o behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two o business days to the obligor's records maintained by the servicer, or 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are o recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction 1122(d)(4)(xv) agreements. ---------------------------------------------------------------------------------------------------------------------- [NAME OF SERVICER] Date: -------------------------------- By: ---------------------------------- Name: -------------------------------- Title: ------------------------------- SCHEDULE I BANA MORTGAGE LOAN SCHEDULE (See the Free Writing Prospectus filed and accepted by the Securities and Exchange Commission on October 27, 2006, with a filing date of October 30, 2006 and accession number 0000950136-06-008947)
Appears in 1 contract
Samples: Servicing Agreement (Banc of America Funding 2006-7 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other X than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or 1122(d)(2)(vii) such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------ INVESTOR REMITTANCES AND REPORTING ------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction X agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------ Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ------------------------------------------------------------------------------------------------------------ Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------ APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ------------------------------------------------------------------------------------------------------------ REFERENCE CRITERIA ------------------------------------------------------------------------------------------------------------ POOL ASSET ADMINISTRATION ------------------------------------------------------------------------------------------------------------ Collateral or security on mortgage loans is maintained as required by X the transaction 1122(d)(4)(i) agreements or related mortgage loan documents. ------------------------------------------------------------------------------------------------------------ Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ------------------------------------------------------------------------------------------------------------ Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ------------------------------------------------------------------------------------------------------------ Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, X and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ------------------------------------------------------------------------------------------------------------ The Servicer's records regarding the mortgage loans agree with the X Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ------------------------------------------------------------------------------------------------------------ Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and X approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ------------------------------------------------------------------------------------------------------------ Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and X concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ------------------------------------------------------------------------------------------------------------ Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans X including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------ APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ------------------------------------------------------------------------------------------------------------ REFERENCE CRITERIA ------------------------------------------------------------------------------------------------------------ Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122(d)(4)(ix) documents. ------------------------------------------------------------------------------------------------------------ Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds X are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ------------------------------------------------------------------------------------------------------------ Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 X calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ------------------------------------------------------------------------------------------------------------ Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error X 1122(d)(4)(xii) or omission. ------------------------------------------------------------------------------------------------------------ Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ------------------------------------------------------------------------------------------------------------ Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in X 1122(d)(4)(xiv) accordance with the transaction agreements. ------------------------------------------------------------------------------------------------------------ X Any external enhancement or other support, identified in Item 1114(a)(1) IF OBLIGATED through (3) or Item 1115 of Regulation AB, is maintained as set forth in UNDER 1122(d)(4)(xv) the transaction agreements. TRANSACTION DOCUMENTS ------------------------------------------------------------------------------------------------------------ [NAME OF COMPANY] [NAME OF SUBSERVICER] Date: __________________________________ By: __________________________________ Name: Title:
Appears in 1 contract
Samples: Banc of America Funding 2006-2 Trust
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- INVESTOR REMITTANCES AND REPORTING -------------------------- -------------------------------------------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans pool assets serviced 1122(d)(3)(i) serviced by the Servicerservicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other [X] 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicerservicer's investor records, [X] or such 1122(d)(3)(iii) other number of days specified in the 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- -------------------------- -------------------------------------------------------- --------------------- S-2 ----------------------------------------------------------------------------------- --------------------- APPLICABLE SERVICING CRITERIA SERVICING CRITERIA ----------------------------------------------------------------------------------- --------------------- REFERENCE CRITERIA -------------------------- -------------------------------------------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of [X] 1122(d)(3)(iv) payment, or 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- --------------------- POOL ASSET ADMINISTRATION -------------------------- -------------------------------------------------------- --------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related 1122(d)(4)(i) asset pool documents. -------------------------- -------------------------------------------------------- --------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. -------------------------- -------------------------------------------------------- --------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. -------------------------- -------------------------------------------------------- --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is 1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment). -------------------------- -------------------------------------------------------- --------------------- S-3 ----------------------------------------------------------------------------------- --------------------- APPLICABLE SERVICING CRITERIA SERVICING CRITERIA ----------------------------------------------------------------------------------- --------------------- REFERENCE CRITERIA -------------------------- -------------------------------------------------------- --------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on 1122(d)(4)(ix) the related pool asset documents. -------------------------- -------------------------------------------------------- --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. -------------------------- -------------------------------------------------------- --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the 1122(d)(4)(xii) obligor's error or omission. -------------------------- -------------------------------------------------------- --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of [X] Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. -------------------------- -------------------------------------------------------- --------------------- EXHIBIT T-1 FORM OF FORM 10-K CERTIFICATION I, [identify the certifying individual], certify that:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks7 Trust)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the X bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are X prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by X the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. X ---------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the X 1122(d)(4)(ii) transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, X or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal X 1122(d)(4)(v) balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and X approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and X repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction X agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122(d)(4)(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on X such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, X provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged X to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the X 1122(d)(4)(xiv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the 1122(d)(4)(xv) transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [WELLS FARGO BANK, NATIONAL ASSOCIATION] [NAME OF SUBSERVICER] Date: ------------------------------------ By: ------------------------------------ Name: Title:
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank X accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in X accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) Pool Assets serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Amounts due to investors are allocated and remitted in accordance with timeframes, X 1122(d)(3)(ii) distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Disbursements made to an investor are posted within two business days to the Servicer's X 1122(d)(3)(iii) investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- ---------------------------------------------------------------------------------------------- -------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other X 1122(d)(3)(iv) form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- -------------- Pool Asset Administration --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(i) Collateral or security on pool assets is maintained as required by the transaction X agreements or related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(ii) Pool assets and related documents are safeguarded as required by the transaction agreements X --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved X in accordance with any conditions or requirements in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(iv) Payments on pool assets, including any payoffs, made in accordance with the related pool X asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- The Servicer's records regarding the pool assets agree with the Servicer's records with X 1122(d)(4)(v) respect to an obligor's unpaid principal balance. --------------------- ---------------------------------------------------------------------------------------------- -------------- Changes with respect to the terms or status of an obligor's pool assets (e.g., loan X modifications or re-agings) are made, reviewed and approved by authorized personnel in 1122(d)(4)(vi) accordance with the transaction agreements and related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in X lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a pool asset is X delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(ix) Adjustments to interest rates or rates of return for pool assets with variable rates are X computed based on the related pool asset documents. --------------------- ---------------------------------------------------------------------------------------------- -------------- 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds X are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or X before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor X are paid from the Servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. --------------------- ---------------------------------------------------------------------------------------------- -------------- Disbursements made on behalf of an obligor are posted within two business days to the X obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in X 1122(d)(4)(xiv) accordance with the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1122(d)(4)(xv) 1115 of Regulation AB, is maintained as set forth in the transaction agreements. --------------------- ---------------------------------------------------------------------------------------------- -------------- [NAME OF OWNER] [NAME OF SUBSERVICER] Date: _________________________ By: _________________________ Name: Title: EXHIBIT K REPORTING DATA FOR REALIZED LOSSES AND GAINS Calculation of Realized Loss/Gain Form 332β Instruction Sheet NOTE: Do not net or combine items. Show all expenses individually and all credits as separate line items. Claim packages are due within 90 days of liquidation. Late submissions may result in claims not being passed until the following month. The Servicer is responsible to remit all funds pending loss approval and /or resolution of any disputed items. The numbers on the 332 form correspond with the numbers listed below. Liquidation and Acquisition Expenses:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-5)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- X ---------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or 1122(d)(2)(vii) such other number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the X 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required X 1122(d)(4)(i) by the transaction agreements or related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- 1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as required by the X transaction agreements ---------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X 1122(d)(4)(iii) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, X or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the X Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ---------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and X approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. ---------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and X repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and X describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan X 1122( d)( 4 )(ix) documents. ---------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with X applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122( d)( 4 )(x) in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, X provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122( d)( 4 )(xi) specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged X to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. ---------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or X 1122(d)(4)(xiii) such other number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized X 1122(d)(4)(xiv) and recorded in accordance with the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in 1122(d)(4)(xv) the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- [THE HEMISPHERE NATIONAL BANK] [NAME OF SUBSERVICER] Date: ______________________________ By: ______________________________ Name: Title: EXHIBIT C-1 Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Sexxxxxr] Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-2380 E-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxm Attn: Xxxxxxxxx Xrust Servixxx - XXX 0000-0XX - XXX XXXXXX XXXXESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of December 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of [date], among Morgan Stanley Capital I Inc., as Depositor, The Hemisphere Natioxxx Xxnx, Xxxxs Fargo Bank, National Association, as Master Servicer, and LxXxxxe Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title:
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar)
Exchange Act. Servicer/Securities Unissued checks are safeguarded so as to prevent unauthorized Administrator/Master 1122(d)(2)(vi) unauthorized access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Servicer ---------------- -------------------------------------------------------- ------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain Servicer/Securities explanations for reconciling items. These reconciling Administrator/Master items are resolved within 90 calendar days of their Servicer original identification, or such other number of days 1122(d)(2)(vii) specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and Securities regulations; and (D) agree with investors' or the trusteeAdministrator/Servicer/ securities administrator's records as to the total Master Servicer unpaid principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- ---------------- -------------------------------------------------------- ------------------------- Amounts due to investors are allocated and remitted in Securities accordance with timeframes, distribution priority and other Administrator/Servicer/ 1122(d)(3)(ii) other terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Master Servicer ---------------- -------------------------------------------------------- ------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, Securities or such 1122(d)(3)(iii) other number of days specified in the Administrator/Servicer/ 1122(d)(3)(iii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- Master Servicer ---------------- -------------------------------------------------------- ------------------------- Amounts remitted to investors per the investor reports Securities agree with cancelled checks, or other form of payment, or Administrator/Servicer/ 1122(d)(3)(iv) or custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------Master Servicer ---------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements Custodian/ Securities 1122(d)(4)(i) or related mortgage loan documents. Administrator/Servicer ---------------- -------------------------------------------------------- ------------------------- Mortgage loan and related documents are safeguarded as Custodian/Securities 1122(d)(4)(ii) required by the transaction agreements Administrator/Servicer ---------------- -------------------------------------------------------- ------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. Servicer ---------------- -------------------------------------------------------- ------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance Servicer 1122(d)(4)(iv) with the related mortgage loan documents. ---------------- -------------------------------------------------------- ------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an 1122(d)(4)(v) obligor's unpaid principal balance. Servicer ---------------- -------------------------------------------------------- ------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset Servicer 1122(d)(4)(vi) documents. ---------------- -------------------------------------------------------- ------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by Servicer 1122(d)(4)(vii) the transaction agreements. ---------------- -------------------------------------------------------- ------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling Servicer plans in cases where delinquency is deemed temporary 1122(d)(4)(viii) (e.g., illness or unemployment). ---------------- -------------------------------------------------------- ------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based 1122(d)(4)(ix) on the related mortgage loan documents. Servicer ---------------- -------------------------------------------------------- ------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of Servicer the related mortgage loans, or such other number of 1122(d)(4)(x) days specified in the transaction agreements. ---------------- -------------------------------------------------------- ------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the Servicer 1122(d)(4)(xi) transaction agreements. ---------------- -------------------------------------------------------- ------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the Servicer 1122(d)(4)(xii) obligor's error or omission. ---------------- -------------------------------------------------------- ------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of Servicer 1122(d)(4)(xiii) days specified in the transaction agreements. ---------------- -------------------------------------------------------- ------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the 1122(d)(4)(xiv)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1)
Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- S-1 ------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction 1122(d)(2)(vii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ------------------- --------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------------------------------------------------------------ --------------------- Pool Asset Administration ------------------ --------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ------------------ --------------------- Mortgage loan and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements. ------------------ --------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions 1122(d)(4)(iii) or requirements in the transaction agreements. ------------------ --------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. ------------------ --------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. ------------------ --------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------ --------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. ------------------ --------------------- ------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness 1122(d)(4)(viii) or unemployment). ------------------ --------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. ------------------ --------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days 1122(d)(4)(x) specified in the transaction agreements. ------------------ --------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ------------------ --------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment 1122(d)940(xii) was due to the obligor's error or omission. ------------------ --------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ------------------ --------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------ --------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is 1122(d)(4)(xv) maintained as set forth in the transaction agreements. ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- [NAME OF MASTER SERVICER] [NAME OF TRUSTEE] [NAME OF SUBSERVICER] Date: _________________________ By: ________________________________ Name: Title: EXHIBIT T [FORM OF] LIST OF ITEM 1119 PARTIES ALTERNATIVE LOAN TRUST 200_-__ MORTGAGE PASS-THROUGH CERTIFICATES, Series 200_-__ [Date] ------------------------------------------------------------------------------- Party Contact Information ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- T-1 EXHIBIT U FORM OF SARBANES-OXLEY CERTIFICATION (REPLACEMENT OF XXXXXX XXXXXXXR) Re: Alternative Loan Trust 200[ ]-OA[ ], Mortgage Pass-Through Certificates, Series 200[ ]-OA[ ] The undersigned Servicer hereby certifies to the Depositor and its officers, directors and Affiliates (collectively, the "Certification Parties") as follows, with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification concerning the Trust Fund to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oh1)
Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized 1122(d)(2)(vi) access. ------------------ ------------------------------------------------------------------------- ------------------- X ---------------------- --------------------------------------------------------------------------- ------------------- Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ------------------ ------------------------------------------------------------------------- ------------------- ---------------------- --------------------------------------------------------------------------- ------------------- Investor Remittances and Reporting ------------------ ------------------------------------------------------------------------- ------------------- ---------------------- --------------------------------------------------------------------------- ------------------- Reports to investors, including those to be filed with the Commission, X are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal 1122(d)(3)(i) balance and number of mortgage loans 1122(d)(3)(i) serviced by the Servicer. ------------------ ------------------------------------------------------------------------- ------------------- ---------------------- --------------------------------------------------------------------------- ------------------- Amounts due to investors are allocated and remitted in accordance with X timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the 1122(d)(3)(ii) transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ---------------------- --------------------------------------------------------------------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified X 1122(d)(3)(iii) in the transaction agreements. ------------------ ------------------------------------------------------------------------- ------------------- ---------------------- --------------------------------------------------------------------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------- ------------------- Pool Asset Administration ---------------------- --------------------------------------------------------------------------- -------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar)
