Common use of Monthly P&I Advances; Distribution Reports to the Trustee Clause in Contracts

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy3), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar14), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Hy2)

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Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar16), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar8), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar14)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payment Amounts to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-11), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-11), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class A Certificates and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar15), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar19), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar15)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date and each Loan Group; (14) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; (2) the number ; and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer Yield Maintenance Payment Amount for the Class A-2-5 Certificates for such Distribution Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-7), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-6), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-7)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s 's interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s 's obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP and Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa6), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa4), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class CA-1C and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP and Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar17), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar15), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar19)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class CX-2-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa1), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar9)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payment Amounts to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-8), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-9)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date and each Loan Group; and (14) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar12), Pooling and Servicing Agreement

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date; and (14) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar7), Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar10)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and; (B5) the following information with respect Assigned Prepayment Premiums to be distributed to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions Class PPP Certificates on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar10), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Hy1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and; (B5) the following information with respect Assigned Prepayment Premiums to be distributed to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions Class PPP Certificates on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oc2), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oci)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar3), Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar2)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class CX-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa3)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-9)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interestRounding Amount, (ii) scheduled principalif any, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed withdrawn from the Rounding Accounts pursuant to the Certificates on such Distribution Date; Section 3.22; (2) the amounts to be applied to repay any funds withdrawn from the Rounding Accounts on prior Distribution Dates pursuant to Section 3.22; (3) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount” and “REMIC II Distribution Amount,” Section 4.01 and Section 4.04 hereof and other related definitions set forth in Article I hereof); and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B5) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date; (16) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; ; and (27) the number and aggregate Principal Balance Yield Maintenance Payment Amount for each of the Mortgage Loans delinquent one, two Class CB-1 and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer Class CB-6 Certificates for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (6) (a) either (x) with respect to each exchange of Exchangeable Certificates that occurred in the prior calendar month, the Class Principal Balance or Class Notional Amount, as applicable, of the Exchangeable Certificates that were exchanged or (y) a statement that no Exchangeable Certificates were exchanged in the prior calendar month and (b) the information described in clauses (A)(2) and (A)(3) above (including interest and principal paid and any Realized Losses or Uncompensated Interest Shortfall allocated) with respect to the Exchangeable Certificates; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each casecase , by Subgroup and Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each casecase , by Subgroup and Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each casecase , by Subgroup and Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each casecase , by Subgroup and Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar3)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to the Class 1-X-PPP, Class 2-PPP and Class 3-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Hy2)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for the Class A-1B1, Class A-1B2, Class A-1B3 and each Class of the Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class X Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payment Amounts to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to each Class of Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class CA-1B1, Class CA-1B2, Class CA-1B3, Class CA-1B4, Class 3A-1C, Group L-B and Group 3-B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP, Class 2X-PPP and Class 3X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar11)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Mortgage Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar7)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Groups 1 & 2 Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of Certificates (other than the Clasx CX-3 and Class 3X-2 Certificates), any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to each Class of Class CX-2-PPP or Class 3-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar8)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payment Amounts to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to each Class of Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-7)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class A Certificates and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Groups 1-4 Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class CA-1B, Class 4A-1B, Class 5A-1B, Group L-B and Group 5-B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to each Class of Class DX-PPP or Class 5X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Asset Acceptance Corp.)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class A-1B, Class A-1C and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class X-1-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class A Certificates (other than the Class A-1A2 Certificates) and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar13)

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Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class CX-2-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa2)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Group 1 Prepayment Premiums and Assigned Group 2 Prepayment Premiums to be distributed to the Class PPP Certificates and the Class 2X Certificates, respectively, on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar4)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, shall not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Net Negative Amortization Amounts, (vi) Principal Prepayments, (vii) Liquidation Principal, (viii) Subsequent Recoveries, (ix) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (x) the Residual Distribution Amount and (iixi) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount”, “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date; (14) the number and aggregate Principal Balance amount of any Special Primary Insurance Premium payable on such Distribution Date; (5) for each Class of the Mortgage Loans before Class A and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; ; and (26) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which related Yield Maintenance Payments for the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer Class A Certificates for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2005-Ar8)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class CX-2-PPP, Class EX-PPP and Class 5X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa3)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class 1A, Class 1A-1B, Class CA-1C and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar6)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Mortgage Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class 1A-1B1, Class 1A-1B2, Class 1A-1B3, Class 1A-1B4 and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP and Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar9)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the WMB Custodial Account for P&I, or apply funds held in the WMB Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage WMB-Serviced Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any WMB-Serviced Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB-Serviced Loans or recoverable as late Monthly Payments with respect to the related Mortgage WMB-Serviced Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB-Serviced Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the WMB Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the WMB Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the WMB Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) To the extent described below, the Master Servicer is obligated to advance its own funds to the applicable Third Party Custodial Account for P&I or to the Certificate Account, or apply funds held in the applicable Third Party Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the MS Loans and (ii) the amounts actually received (including amounts advanced by a Third Party Servicer pursuant to a Selling and Servicing Contract); provided, however, that with respect to any MS Loan that is a Balloon Loan that is delinquent on its maturity date, the Master Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Master Servicer deems such amount to be recoverable. The Master Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Master Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related MS Loans or recoverable as late Monthly Payments with respect to the related MS Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Master Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date (in the event that the applicable Third Party Servicer fails to make such advances) and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the MS Loans, stated separately. In the event that the Master Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the applicable Third Party Custodial Account for P&I or in the Certificate Account an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the applicable Third Party Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Master Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Master Servicer by deposit in the applicable Third Party Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (c) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of:of (and the Master Servicer shall provide to the Servicer such information regarding the MS Loans as the Servicer shall reasonably request in order for the Servicer to provide such statement): (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (5) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer, the Master Servicer or a Third Party Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-6)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date and each Loan Group; (14) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer Yield Maintenance Payment Amount for each of the Class 2-A-3 and Class 4-CB-3 Certificates for such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-10)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class A and Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class X-2-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar7)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) the Assigned Prepayment Premiums to be distributed to the Class C-PPP Certificates on such Distribution Date; and (6) (a) either (x) with respect to each exchange of Exchangeable Certificates that occurred in the prior calendar month, the Class Principal Balance or Class Notional Amount, as applicable, of the Exchangeable Certificates that were exchanged or (y) a statement that no Exchangeable Certificates were exchanged in the prior calendar month and (b) the information described in clauses (A)(2) and (A)(3) above (including interest and principal paid and any Realized Losses or Uncompensated Interest Shortfall allocated) with respect to the Exchangeable Certificates; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each casecase , by Subgroup and Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each casecase , by Subgroup and Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each casecase , by Subgroup and Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each casecase , by Subgroup and Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-4)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class CA-1C, Class CA-1D and Group L-B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP and Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar13)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided thatprovided, however, that with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each Class of the Class B Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. , in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2006-Ar1)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer or Monthly Advances (as defined in the Countrywide Agreement) made by Countrywide for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa4)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-3)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and Recoveries, (vi) Repurchase Proceeds and (vii) Yield Maintenance Payments to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oa5)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Monthly Payments payments of principal and interest scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the second Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the second Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the second Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: of (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principalthe interest portion, if any, of Realized Losses, (iii) Excess Liquidation Proceeds and Uncompensated Interest Shortfall, (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; scheduled principal, (3v) Principal Prepayments, (vi) Liquidation Principal, (vii) Subsequent Recoveries, (viii) the amount principal portion of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount), (ix) the Residual Distribution Amount and (iix) Uncompensated Interest Shortfall the Excess Liquidation Proceeds to be allocated distributed or allocated, as applicable, to each Class of Certificates on such Distribution DateDate (such amounts to be determined in accordance with the definitions of “REMIC I Distribution Amount,” “REMIC II Distribution Amount” and “REMIC III Distribution Amount,” Section 4.01, Section 4.04 and Section 4.05 hereof and other related definitions set forth in Article I hereof); and (42) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B3) the following information with respect to the Mortgage Loans: Cumulative Carry-Forward Subsequent Recoveries Amount for such Distribution Date and each Loan Group; (14) the number and aggregate Principal Balance amount of the Mortgage Loans before and after giving effect to the distributions any Special Primary Insurance Premium payable on such Distribution Date. in each case, by Loan Group; (2) the number ; and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer Yield Maintenance Payment Amount for each of the Class 1-A-3 and Class 2-CB-3 Certificates for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2005-8)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage WMB Loans and (ii) the amounts actually received; provided that, with respect to any WMB Loan that is a Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage WMB Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage WMB Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage WMB Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage WMB Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and (ii) Uncompensated Interest Shortfall to be allocated to each Class of Certificates on such Distribution Date; and (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar4)

Monthly P&I Advances; Distribution Reports to the Trustee. (a) To the extent described below, the Servicer is obligated to advance its own funds to the Custodial Account for P&I, or apply funds held in the Custodial Account for P&I for future distribution, to cover any shortfall between (i) Minimum Monthly Payments scheduled to be received in respect of the Mortgage Loans and (ii) the amounts actually received; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date to the extent the Servicer deems such amount to be recoverable. The Servicer’s obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Servicer made not later than the second Business Day prior to each Distribution Date, reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Minimum Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the second Business Day prior to each Distribution Date, the Servicer shall determine whether or not it will make a Monthly P&I Advance not later than the Business Day prior to such Distribution Date and shall furnish a written statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be advanced on account of principal and interest in respect of the Mortgage Loans, stated separately. In the event that the Servicer shall be required to make a Monthly P&I Advance, it shall, not later than the Business Day prior to the related Distribution Date either (i) deposit in the Custodial Account for P&I an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the records of the Custodial Account for P&I that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 4.02, used by the Servicer to make such Monthly P&I Advance or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account for P&I not later than the Business Day prior to any future Distribution Date to the extent that funds otherwise available for distribution on such Distribution Date with respect to the Mortgage Loans shall be less than payments required to be made hereunder on such Distribution Date. (b) Prior to noon New York City time two Business Days prior to each Distribution Date, the Servicer shall provide (x) the Trustee and (y) the Company with a statement in writing of: (A) the following information with respect to the Certificates: (1) the total amount of (i) interest, (ii) scheduled principal, (iii) Principal Prepayments, (iv) Liquidation Proceeds and Insurance Proceeds, (v) Subsequent Recoveries and (vi) Repurchase Proceeds to be distributed to the Certificates on such Distribution Date; (2) the amount, as applicable, of (i) interest, (ii) principal, (iii) Excess Liquidation Proceeds and (iv) the Residual Distribution Amount to be distributed to each Class of Certificates on such Distribution Date; (3) the amount of (i) Realized Losses (after giving effect to any reduction thereof by application of any Cumulative Carry-Forward Subsequent Recoveries Amount) and ), (ii) Uncompensated Interest Shortfall and (iii) Net Negative Amortization Amounts to be allocated to each Class of Certificates on such Distribution Date; and; (4) the applicable Class Principal Balance before and after giving effect to such distributions and allocations; (5) for each applicable Class of Certificates, any portion of the Carryover Shortfall Amount for such Class remaining after distributions on such Distribution Date; and (6) the Assigned Prepayment Premiums to be distributed to the Class 1X-PPP and Class 2X-PPP Certificates on such Distribution Date; and (B) the following information with respect to the Mortgage Loans: (1) the number and aggregate Principal Balance of the Mortgage Loans before and after giving effect to the distributions on such Distribution Date. in each case, by Loan Group; (2) the number and aggregate Principal Balance of the Mortgage Loans delinquent one, two and three months or more, in each case, by Loan Group; (3) the number and aggregate Principal Balance of the Mortgage Loans with respect to which foreclosure proceedings have been initiated, in each case, by Loan Group; (4) the number and aggregate Principal Balance of Mortgage Loans with respect to which the related Mortgaged Properties have been acquired through foreclosure, deed in lieu of foreclosure or otherwise, in each case, by Loan Group; and (5) any Monthly P&I Advance made by the Servicer for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WaMu Mortgage Pass-Through Certificates, Series 2007-Oa2)

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