Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates: (i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any); (ii) the amount of such distribution to Holders of each Class allocable to interest; (iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date; (v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period; (vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap; (vii) the amount of Advances included in the distribution on such Distribution Date; (viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates; (ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date; (x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date; (xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date; (xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date; (xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and (xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095. (b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency. (c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters: (i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption; (ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption; (iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same; (v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans; (vi) The amount and timing of any non-interest expenses of a REMIC; and (vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the TrusteeMaster Servicer, the Master Servicer Certificate Insurer, the Credit Risk Manager and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent and (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and Delinquent (C) in bankruptcy and delinquent (1delinquent(1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve Fund; andSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xvxviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-6600. Parxxxx xxxx xxx 0000 Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the LIBOR Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Initial Cut-off Date;
(xvii) the number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the preceding Due Period;
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxi) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions 123 in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Initial Cut-off Date;
(xxiii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiv) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxv) the aggregate amount of all Advances recovered during the related Due Period;
(xxvi) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvii) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxviii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxix) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxx) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors;
(xxxi) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxii) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxiii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiv) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of the preceding monthExcess Interest for any class of Class A, Class M, Class B or Class R Certificates;
(xivxxxvi) Net WAC Rate Carryover and the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;; 125
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2006-Ab3), Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2006-Ab3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Credit Risk Manager and the Depositor via its website, a statement setting forth for the Certificates with respect to the related Mortgage Loans and related Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all Balance of the Mortgage Loans and of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Servicing Fees and Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer Master Servicer, respectively, for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount deposited to the Interest Rate Cap Account on deposit the related Floating Rate Payer Payment Date, including a breakdown of amounts withdrawn in connection with such Distribution Date;
(xv) amounts withdrawn from the Net WAC Reserve FundInterest Rate Cap Account and applied to the Certificates in accordance with Section 5.08 hereof on such Distribution Date; and
(xvxvi) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and the Seller for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesDate. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's its internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Depositor, the Master Servicer, the Company Interest Rate Cap Agreement Provider and the ServicersServicer. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.09 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.09 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at www.ctslink.com to each Holder of Certificatesa Class of Certificates of the Trust Xxxx, xxx Xxxxicer, the TrusteeNIMs Insurer, the Master Servicer Rating Agencies rating the Certificates and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such -89- Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or a Class A-1 Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(ix);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Net WAC Reserve FundCap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M, Class B and Class C Certificates described in Section 4.04(k) hereof; and
(xvxxi) the amount any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the distribution made Offered Certificates and Class B-4 Certificates on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. Date.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administratorcxxxxxx xxx Xxxxtee's customer service desk at (301) 815-6600. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper entitlex xx xxxx x xxper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Trustee.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A)-(D) thereof and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect -91- to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ff6)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at xxx.xxxxx.xxx/xxxxxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(viiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiv) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans in each Loan Group as of the last day of such preceding Distribution Date;
(xiiixvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxxiv) Net WAC Rate Carryover Amount for each Class the amount and purpose of Certificates any withdrawal from the Collection Account pursuant to Section 3.08(a)(vii);
(xxv) the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans purchased during the preceding Due Period;
(xxvi) the amount on deposit in the Net WAC Reserve FundPre-Funding Account and the Capitalized Interest Account (in the aggregate and with respect to each Loan Group and with respect to Group IIA and Group IIB); and
(xvxxvii) for the amount Distribution Date in the month immediately following the end of the distribution made Funding Period, the current balance on deposit in the Pre-Funding Account, if any, that has not been used to purchase Subsequent Mortgage Loans and that is being distributed to Certificateholders as a mandatory prepayment of principal on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Date.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Servicer will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Chase Manhattan Acceptance Corp /De/), Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Certificates and the Depositor via its website a statement setting forth for the Certificates with respect to the related Mortgage Loans and related Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans in each Loan Group and the aggregate Stated Principal Balance of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for amounts payable in respect of each Class of Certificates and the amount on deposit in the Net WAC Reserve FundCap Contract; and
(xv) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and the Seller for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesDate. The Securities Administrator Trustee may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's its internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx/xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Depositor and the ServicersServicer. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.09 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.09 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004-Ar4), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004-Ar3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of (B) the Adjustable Rate Mortgage Loans Loans, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, and (2 Adjustable Rate Mortgage Loans;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxiv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding monthGroup Two Mortgage Loans;
(xivxxv) Net WAC Rate Carryover Amount for with respect to each Class of Certificates Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holders of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Ahl1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Mln1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available cause to be forwarded by first class mail to each Holder of CertificatesCertificateholder, each Servicer, the TrusteeDepositor and each Rating Agency, the Master Servicer and the Depositor a statement based on the information provided by each Servicer pursuant to Section 4.05 herein setting forth for with respect to the Certificatesrelated distribution:
(i) the amount of the related distribution to Holders of each Class thereof allocable to principal, separately identifying (A) indicating the aggregate amount of any portion thereof attributable to Scheduled Payments and Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)Prepayments;
(ii) the amount of such distribution to Holders of each Class thereof allocable to interestinterest or any Carryforward Interest included in such distribution;
(iii) if the Certificate Principal Balance or Certificate Notional Balance distribution to the Holders of each such Class after giving effect (i) of Certificates is less than the full amount that would be distributable to all distributions allocable to principal on such Distribution Date Holders if there were sufficient funds available therefor, the amount of the shortfall and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Datethereof as between principal and interest;
(iv) the aggregate Class Principal Balance of each Class of Certificates after giving effect to the Stated Principal Balances distribution of all of the Mortgage Loans and of the Mortgage Loans for the following principal on such Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer Aggregate Collateral Balance and the Servicing Fees paid to or retained by the Company or the related Servicer Aggregate Collateral Group Balance for the related Due Periodsuch Distribution Date;
(vi) the Overcollateralization Amount for such Distribution Date;
(vii) the amount of the Servicing Fees, the Excess Servicing Fee, the Trustee Fee, the Credit Risk Manager Fee and any other mortgage insurance fees, if applicable, with respect to such Distribution Date;
(viii) the Pass-Through Rate for each Class of LIBOR Certificates with respect to such Distribution Date and the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Capfor each Class of Class A-IO Certificates;
(viiix) the amount of Advances included in the distribution on such Distribution Date and the aggregate amount of Advances outstanding as of the last day of the calendar month preceding such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixx) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) which are delinquent (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and delinquent (1) 31 to 60 daysfor the Mortgage Loans in the aggregate, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance ofaggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and Realized Loss onfor the Mortgage Loans in the aggregate, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as last day of the close of business on the Determination Date calendar month preceding such Distribution Date;
(xii) the three month rolling average number and aggregate principal amounts of the percent equivalent of a fractionMortgage Loans that were in bankruptcy, the numerator of which is the aggregate stated Principal Balance of for each Loan Group and for the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Propertiesthe aggregate, and the denominator of which is the aggregate Stated Principal Balance of all as of the Mortgage Loans as close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related number and aggregate principal amounts of Mortgage Loans with respect to which Prepayment Period Premiums were collected and the cumulative Realized Losses through the end aggregate amount of the preceding monthsuch Prepayment Premiums;
(xiv) Net WAC the Rolling Three Month Delinquency Rate Carryover Amount for such Distribution Date;
(xv) the total number and principal balance of any REO Properties (and market value, if available), for each Class Loan Group and for the Mortgage Loans in the aggregate, as of Certificates the last day of the calendar month preceding such Distribution Date;
(xvi) the total number and principal balance of any Mortgage Loans that were repurchased during the calendar month preceding such Distribution Date;
(xvii) the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses included in such distribution;
(xviii) the amount on deposit in the Prefunding Account (including a breakdown of amounts released during the prior calendar month in respect of Aggregate Subsequent Transfer Amounts or amounts included in the Principal Remittance Amount on the June 2004 Distribution Date);
(xix) the weighted average term to maturity of the Mortgage Loans as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xx) the portion of any distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date;
(xxi) the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such Distribution Date);
(xxii) the gross weighted average coupon of the Mortgage Loans as of the first date of the applicable period for such Distribution Date;
(xxiii) the aggregate number of Mortgage Loans in the pool;
(xxiv) the Net WAC Rate;
(xxv) the Senior Enhancement Percentage;
(xxvi) the Net Excess Spread;
(xxvii) any amounts deposited in the Basis Risk Reserve FundFund on such Distribution Date pursuant to Section 4.02(e)(viii), and the balance of the Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and
(xvxxviii) the amount on deposit in the Interest Rate Cap Account (including a breakdown of the distribution made on amounts withdrawn in connection with such Distribution Date to and the Holders of Target Amount for the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet websitepreceding Distribution Date). The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Company Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP Level Factors for each Class of Offered Certificates as of such Distribution Date, using a format and media mutually acceptable to the ServicersTrustee and Bloomberg. In connection with providing the information specified in this Section 4.04 to Bloomberg, the Trustee and any director, officer, employee or agent of the Trustee shall be indemnified and held harmless by DLJMC, to the extent, in the manner and subject to the limitations provided in Section 8.05. The Securities Administrator Trustee will also make the monthly statements to Certificateholders available a copy of each statement provided pursuant month to each party referred to in this Section 6.05 4.04(a) via the Trustee’s website. The Trustee’s website can be accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Trustee may designate from time to time. The Trustee may fully rely upon and shall have no liability with respect to information provided by each Rating AgencyServicer.
(cb) Within Upon request, within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(vii) of this Section 6.05 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Home Equity Asset 2004-2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer and the Special Servicer, as applicable (which information is not required to include any prediction of future performance as to which such report relates) and without any obligation to recompute, verify or confirm such information, the Securities Administrator shall prepare and make available on its website located at www.etrustee.net to each Holder of Certificatesa Class of Certificates of the Trusx Xxxx, xxx Xxxxicer, the Special Servicer, the Master Servicer, the Trustee, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and Servicer, the Servicing Fees amount of the Securities Administrator Fee paid to or retained by the Company Securities Administrator and any amounts constituting reimbursement or indemnification of the related Servicer for the related Due PeriodServicer, Master Servicer, Securities Administrator or Trustee;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xviii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M, Class B and Class C Certificates described in Section 4.04(k) hereof;
(xxi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M, Class B Certificates on such Distribution Date;
(xiiixxii) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding month;Group Two Mortgage Loans.
(xivb) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities Administrator's internet Internet website. The Securities Administrator's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing www.etrustee.net." Assistance in using the website can be obtained by calling the Securities xxxxxxx xxx Xxxxrities Administrator's customer service desk at (301800) 815246-66005761. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper entitlex xx xxxx x xxper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from parties and the Securities Administrator, the Trustee will also make the related Monthly Statements available Administrator shall provide timely and adequate notification to Certificateholders via the Trustee's internet websiteall above parties regarding any such changes. The Trustee's internet website will initially Securities Administrator shall also be located at "www.jpmorgan.com/abxxxx"entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Special Servicer and, if applicable, the Depositor. As a condition to access the Securities Administrator's internet website, the Securities Administrator may require registration and the Servicersacceptance of a disclaimer. The Securities Administrator will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust Series 2005-Ff12), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust Series 2005-Ff12)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxiv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding monthGroup Two Mortgage Loans;
(xivxxv) Net WAC Rate Carryover Amount for with respect to each Class of Certificates Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Ar1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Rm2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Swap Provider, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates;
(ii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the applicable Servicer or the Master Servicer for the related Due Period;
(iv) with respect to each Loan Group, the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders holders of each the Class I-A , Class I-M, Class II-A and Class II-M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Interest Rate Swap Agreement
(vi) with respect to each Loan Group, the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for the related Offered Certificates (if any);
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net WAC Rate CapCap Rate;
(viiviii) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date with respect to such Loan Group and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group for such Distribution Date;
(ix) with respect to each Loan Group, the number and Stated Principal Balance of all the Mortgage Loans for such Distribution Date, together with updated pool composition information;
(x) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net WAC Cap Rate;
(xi) with respect to each Loan Group, the aggregate amount of Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxii) the number and aggregate principal amounts Stated Principal Balance of Mortgage the Group I Loans and Group II Loans (A) Delinquent (Delinquent, exclusive of Mortgage Loans in foreclosure and bankruptcy) foreclosure, (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage each Loan that was liquidated during the preceding calendar monthGroup, the loan number amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xiv) with respect to each Loan Group, the aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loan Loans as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixv) with respect to each Loan Group, information on loss, delinquency or other tests used for determining early amortization, liquidation, stepdowns or other performance triggers as more completely described in the prospectus supplement and whether the trigger was met;
(xvi) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixvii) with respect to each Loan Group, the cumulative Realized Losses through the end of the preceding month;
(xviii) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in such Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date,
(xix) with respect to each Loan Group and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xiiixx) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end with respect to each Loan Group, material breaches of the preceding monthMortgage Loan representations or warranties or transaction covenants;
(xivxxi) Net WAC Rate Carryover Amount for with respect to each Class Loan Group, the amount of Certificates the Prepayment Charges remitted by the master servicer and the amount on deposit in the related reserve fund;
(xxii) the amount of any Group I Net WAC Reserve Swap Payment or Group II Net Swap Payment payable to the Trust, any Group I Net Swap Payment or Group II Net Swap Payment payable to the related Swap Provider, any Group I Swap Termination Payment or Group II Swap Termination Payment payable to the Trust and any Group I Swap Termination Payment or Group II Swap Termination Payment payable to the related Swap Provider.
(xxiii) information regarding any new issuance of securities backed by the same asset pool, any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund, if applicable; and
(xvxxiv) any material changes in the amount solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund. The Depositor covenants that if there is a material change in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund that it will notify the Securities Administrator five calendar days before each Distribution Date, and if no such notification occurs, the Securities Administrator has no obligation to report with respect to (xxiv). The Depositor covenants to the Securities Administrator that there will be no new issuance of securities backed by the same asset pool, so the Securities Administrator will only be responsible in (xxiii) above for reporting any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than five (5) Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the distribution made on such Distribution Date information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Holders of Securities Administrator by the Class P Certificates allocable Master Servicer, and the Securities Administrator shall not be obligated to Prepayment Chargesverify, recompute, reconcile or recalculate any such information or data. The Securities Administrator may shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The Securities Administrator will make the foregoing Monthly Statement such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the parties hereto, the Certificateholders and each Rating Agency via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"xxx.xxxxxxxx.xxx. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements such statements are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. To the extent timely received from As a condition to access the Securities Administrator’s internet website, the Trustee will also make Securities Administrator may require registration and the related Monthly Statements available to Certificateholders via the Trustee's internet websiteacceptance of a disclaimer. The Trustee's internet website Securities Administrator will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the related Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating AgencyAgency on its website at xxx.xxxxxxxx.xxx.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the The Securities Administrator shall furnish quarterly to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the related Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the related Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the related Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the related Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (SACO I Trust 2006-5), Pooling and Servicing Agreement (SACO I Trust 2006-5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxiv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding monthGroup Two Mortgage Loans;
(xivxxv) Net WAC Rate Carryover Amount for with respect to each Class of Certificates Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the - 119 - website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, the Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holder of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm3), Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and general Distribution Dates for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.02 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Balance of all of the Mortgage Loans as of the last day related Due Period;
(xix) the aggregate Servicing Fee received by the Servicer, and the Master Servicing Fees, if any, received by the Master Servicer during the related Due Period;
(xx) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date;
(xiiixxi) the Realized Losses during amount, if any, of other fees or expenses accrued and paid, with an identification of the related Prepayment Period payee and the cumulative Realized Losses through the end general purpose of the preceding monthsuch fees;
(xivxxii) Net WAC Rate Carryover Amount for each Class the amount of Certificates any Basis Risk Shortfalls and the amount on deposit in the Net WAC Basis Risk Shortfall Reserve FundFund after all deposits and withdrawals on such Distribution Date;
(xxiii) amounts payable in respect of the Swap Agreement; and
(xvxxiv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Wf1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.9.12. 133
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He7), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He7)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer, the Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class allocable to interestof Certificates;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of (A) all of the Mortgage Loans Loans, (B) the first lien Mortgage Loans, (C) the second lien Mortgage Loans, and of (D) the Adjustable Rate Mortgage Loans Loans, for the following Distribution Date;
(v) the related amount of the Servicing Fee, the Master Servicing Fees Fee and Risk Manager Fee paid to or retained by the Servicer, the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer Risk Manager, respectively, for the related Due Period;
(vi) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ix) the number and aggregate principal amounts Stated Principal Balances of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 or 120 days and (4) 121 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and 80 days, (3) 91 or 120 days and (4) 121 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 or 120 days and (4) 121 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans and (3) Adjustable Rate Mortgage Loans;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans and (3) Adjustable Rate Mortgage Loans;
(xiii) the amount withdrawn from the Pre-Funding Account, the Pre-Funding Reserve Account and the Interest Coverage Account and deemed to be Principal Funds or Interest Funds on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date;
(xiv) the Realized Losses during the related Prepayment Period prior calendar month and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date whether a Trigger Event exists. In addition to the Holders information described above, the Securities Administrator will make available to any Holder of the Class P B-IO Certificates allocable any additional information reasonably requested by such holder and available to Prepayment Chargesthe Securities Administrator. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Servicer and the ServicersServicer. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the The Securities Administrator shall furnish quarterly to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;; and
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The Certain information pursuant to clauses (i), (ii), (iii) and (iviii) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Cl1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Accrual Period and Distribution Date for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution Prepayment Charges distributed to the Class P Certificates and (D) the Extra Principal Distribution Amount;
(v) the amount distributed to Holders of each Class of Certificates on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the related Servicer pursuant to Section 3.27 of this Agreement or the Servicing Agreement, as applicable or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses for the related Mortgage Loans to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses for the related Mortgage Loan that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount, the Credit Enhancement Percentage, any Overcollateralization Increase Amount and any Overcollateralization Reduction Amount for such Distribution Date;
(xii) the amount of any Prepayment Charges remitted by the related Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any related Mortgage Loans that were (A) Delinquent delinquent (exclusive of related Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any related Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any related Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance scheduled principal balance of the Mortgage Loans that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance scheduled principal balances of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixix) the Realized Losses aggregate Stated Principal Balance for each Mortgage Loan that is sixty (60) days or more delinquent or is in bankruptcy or foreclosure or are REO Properties;
(xx) the aggregate Servicing Fee received by the Servicers and the Master Servicing Fee received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xivxxi) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxii) the amount of any Net WAC Rate Carryover Amount for each Class of Certificates Amounts and the amount on deposit in the Net WAC Reserve FundFund after all deposits and withdrawals on such Distribution Date;
(xxiii) amounts payable in respect of the Cap Contract;
(xxiv) amounts payable in respect of the Swap Agreement; and
(xvxxv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Charges. has occurred and whether any Trigger Event is in effect; The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master ServicerServicers, the Company Cap Provider and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.08 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.08 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Securities Administrator shall calculate the Significance Percentage of the Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Securities Administrator shall promptly notify the Depositor and the Depositor, on behalf of the Securities Administrator, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Securities Administrator shall promptly notify the Depositor and the Depositor shall, within five (5) Business Days of such Distribution Date, deliver to the Securities Administrator the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Securities Administrator shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Master Servicer or a Servicer pursuant to Section 3.24, as applicable, the Securities Administrator shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Trustee, each Servicer, the Master Servicer Certificate Insurer, the Rating Agency and the Depositor a statement setting forth for the each $1,000 principal amount of Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carry Forward Amount for each Class of the Certificates;
(iv) the Certificate Principal Balance or Certificate Class S Notional Balance Amount of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of Balance for such Distribution Date and the Mortgage Loans and of amount on deposit in the Mortgage Loans for the following Pre-Funding Account on such Distribution Date;
(vvi) the related amount of the Servicing Fee, the Master Servicing Fees Fee, the Credit Risk Manager Fee and the Certificate Insurer Premium paid to or retained by the Servicers, the Master Servicer and Servicer, the Servicing Fees paid to or retained by the Company Credit Risk Manager or the related Servicer for the related Due PeriodCertificate Insurer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) Reserved;
(x) the aggregate amount of reimbursement to the related Servicer of Non-Recoverable Advances previously made;
(xi) the aggregate amount of recovery to the Trust Fund of reimbursement previously deemed non-recoverable;
(xii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxiii) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xiv) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 30 days, (2) 61 to 60 days, (3) 90 days, (4) 120 days and (35) 91 150 or more days, and (B) in foreclosure or bankruptcy and delinquent Delinquent (1) 31 to 60 30 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (23) 61 to 90 9 days and (34) 91 120 or more days, ;
(xv) the number and aggregate principal amounts of Mortgage Loans that were in each case bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such aggregate principal amounts of Mortgage Loan Loans that were in foreclosure as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all Liquidated Loans as of the immediately preceding Distribution Date;
(xix) whether a Trigger Event has occurred;
(xx) amount on deposit in the Pre-Funding Account and the Capitalized Interest Account;
(xxi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xxii) with respect to each Class of Offered Certificates (other than the Class S Certificates) and the Class B-2 and Class B-3 Certificates any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xxiii) the number and Stated Principal Balance (as of the immediately preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxiv) the number and aggregate Stated Principal Balance of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxv) the current and cumulative number and amount of prepayment penalties and the current and cumulative amount of late payment fees received during the related Prepayment Period;
(xxvi) the total number and principal balance of any Mortgage Loans that were repurchased during the calendar month preceding such Distribution Date and the total number and principal balance of any Mortgage Loans that were repurchased from the Closing Date to such Distribution Date;
(xxvii) the aggregate amount of Subsequent Recoveries for such Distribution Date and the aggregate amount of Subsequent Recoveries collected after the Closing Date to such Distribution Date;
(xxviii) the weighted average remaining term to maturity of the Mortgage Loans as of the last first day of the calendar month preceding such Distribution Date;
(xiiixxix) the Realized Losses during amount and purpose of any withdrawal from the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthCollection Account pursuant to Section 3.08(a)(v);
(xivxxx) Net WAC the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest (or, in the case of the Class R Certificate, in respect of the "residual interest" in any of the REMICs) and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest (or, in the case of the Class R Certificate, in respect of the "residual interest" in any of the REMICs);
(xxxi) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 5.05(l) and the amount thereof to be paid to the Offered Certificates as described in Section 5.05(l) hereof; and
(xxxii) as of each Distribution Date, the Floating Rate Certificate Carryover Amount for each Class of Certificates (other than the Class S and Class X Certificates) and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount portion of the distribution made on such Distribution Date Floating Rate Certificate Carryover that is attributable to the Holders of fact that Applied Realized Loss Amounts are not allocated to the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk A and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Class R Certificates.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.[RESERVED];
(c) Within If so requested in writing or as required by applicable law, within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record (and to the Certificate Insurer), based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. Within a reasonable period of time after the end of each calendar year if requested in writing or required by applicable law, the Securities Administrator will prepare and deliver to each certificateholder of record during the previous calendar year, a statement containing information necessary to enable certificateholders to prepare their tax returns. The Securities Administrator will not be responsible for any errors, omissions or misstatements that may be incorporated in such statement.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates Class R Certificate the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The : the original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(iii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iiiii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iviii) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(viv) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(viv) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(viivi) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The Securities Administrator shall only be required to provide the information pursuant to clauses (i), (ii), ) and (iii) and (iv) above shall be if such information is provided to the Securities Administrator by the Depositor pursuant to Section 10.12Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust, Series 2004-11he)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Certificate Insurer, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable to interestinterest and the portion thereof, if any, provided by the Yield Maintenance Agreements;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andwhether a Trigger Event exists;
(xvxvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges;
(xvii) the Certificate Insurer Premium Amount; and
(xviii) the Reimbursement Amount, separately indicating the amount related to (a) interest draws on the Class III-A Policy, (b) principal draws on the Class III-A Policy and (c) all other amounts representing such Reimbursement Amount. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Certificate Insurer via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx Xxxxxxxxxx xx xxing the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301312) 815904-66007053. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset-Backed Certificates Series 2004-He1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesMortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder aggregate and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vixiii) The the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or a Stepup Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xviii) the amount and timing purpose of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on withdrawal from the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor Collection Account pursuant to Section 10.12.3.08(a)(viii) (xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2004-Fm1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesMortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xix) the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest.
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Net WAC Reserve Fund; and
(xvCertificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of Offered Certificates (other than the Class P Certificates allocable to Prepayment ChargesS Certificates) as described in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A) - (D) thereof and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Servicer, the Trustee, the Master Servicer Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, principal separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any, in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) [Reserved];
(iv) the Class Certificate Principal Balance Balance, or Certificate the Class X-A Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 or 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (6) 181 or more days, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 or more 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (C6) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 181 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage loans that became Liquidated Loans as of such Distribution Date calculated as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Prepayment Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date, and for partial Principal Prepayments, the amount received during the preceding calendar month;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class 1-A Certificates, the Class 2-A Certificates, the Floating Rate Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A and Class X-0, X-0, X-0 and M-4 Certificates on such Distribution Date;
(xiiixxiv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding monthGroup Two Mortgage Loans;
(xivxxv) Net WAC Rate Carryover Amount for with respect to each Class of Certificates and Certificates, the amount of any Non-Supported Interest Shortfalls on deposit in such Distribution Date;
(xxvi) the Net WAC Reserve Fundnumber and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount of Servicing Advances made or reimbursed during the period;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xvxxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk above-referenced telephone number and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxiv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period and the cumulative Realized Losses through the end as a result of the preceding monthsuch reductions;
(xivxxv) Net WAC Rate Carryover Amount for with respect to each Class of Certificates Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee (Attention: Xxxxxxxx Xxxxx, who may be reached directly at (301000) 815000-66000000). Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-He3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, 115 the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect; 116
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number and amount of prepayment charges received during the related Prepayment Period;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Corridor Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xx) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) the number of Mortgage Loans prepaid in full for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxiv) the aggregate amount of all Advances recovered during the related Due Period;
(xxv) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information; 117
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiii) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of Excess Interest for any class of the preceding monthLIBOR Certificates;
(xivxxxv) Net WAC Rate Carryover the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx"liable for the dissemination of information in accordance with this Agreement. Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.118
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class (other than Class P) allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans in each Loan Group for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer any subservicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Capany interest rate cap;
(vii) any Interest Carry Forward Amount for each Class of Offered Certificates;
(viii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ix) the amount of Advances for each Loan Group included in the distribution on such Distribution Date;
(viiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Class M-1 Certificates, Class M-2 Certificates and Class B Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxi) the number and aggregate principal amounts of Mortgage Loans in each Loan Group for each such Loan Group and the mortgage pool (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to any Mortgage Loan that was liquidated during the preceding calendar monthmonth in each Loan Group and the mortgage pool, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixiii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixv) the Realized Losses for each Loan Group during the related Prepayment Period and the cumulative Realized Losses for each Loan Group and the mortgage pool through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargeswhether a Trigger Event exists. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Security Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Servicer and the ServicersTrustee. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxxxxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day of such preceding Distribution Date;
(xiiixv) whether a Trigger Event has occurred;
(xvi) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xviii) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxx) Net WAC Rate Carryover Amount for the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv); and
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; and
(xv) the amount respect of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095REMIC Regular Interest.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Mort Ln Ast BCK CTS Ser 2003-Bc1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at xxx.xxxxx.xxx/xxxxxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(viiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiv) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans in each Loan Group as of the last day of such preceding Distribution Date;
(xiiixvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxxiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in and purpose of any withdrawal from the Net WAC Reserve FundCollection Account pursuant to Section 3.08(a)(vii);
(xxv) the related amount of the PMI Insurer's Fee paid to the PMI Insurer; and
(xvxxvi) the related amount of the distribution made on such Distribution Date Advisor's Fee paid to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.Loss Mitigation Advisor;
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Servicer will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at xxx.xxxxx.xxx/xxxxxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the Net Mortgage Rates for each of the Mortgage Loans;
(ix) the amount of Advances included in the distribution on such Distribution Date;
(viiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and general Distribution Dates for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each loan group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.27 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each loan group, the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each loan group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixix) the Realized Losses aggregate Servicing Fee received by the Servicer, and the master servicing fees, if any, received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxx) the amount of the distribution made Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date;
(xxi) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxii) the amount of any Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date to the Holders Date;
(xxiii) amounts payable in respect of the Class P Certificates allocable Swap Agreement;
(xxiv) with respect to Prepayment Chargeseach loan group, whether the Stepdown Date has occurred and whether any Trigger Event is in effect; and
(xxv) any legal proceedings pending against the Sponsor, the Depositor or the Trustee, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Servicer, the Trustee, the Master Servicer Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate in accordance with the OTS methodology for reporting delinquencies;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage loans that became Liquidated Loans as of such Distribution Date calculated as of the last day preceding Distribution Date;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period and as a result of such reductions in the cumulative Realized Losses through the end of the preceding monthaggregate;
(xivxxvi) Net WAC Rate Carryover Amount for with respect to each Class of Certificates and Certificates, the amount of any Non-Supported Interest Shortfalls on deposit in such Distribution Date;
(xxvii) the Net WAC Reserve Fundnumber and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xvxxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ffa)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in additionthe aggregate and with respect to the Group One Mortgage Loans, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup Two Mortgage Loans and Group Three Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xviii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixix) the Realized Losses number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxx) Net WAC Rate Carryover Amount for the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv); and
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; and
(xv) the amount respect of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095REMIC Regular Interest.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Mort Ln as Bk Ce Ser 2003 Bc4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable accrual periods for calculating distributions and general distribution dates;
(ii) the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period;
(iv) the amount of the related distribution to Holders of each the Class A (other than the Class A-4 Certificates), Class M and Class B Certificates (by Class) allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders of each Class of Class A, Class M and Class B Certificates allocable to interest
(vi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges
(vii) the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of Certificates (if any);
(iiiviii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net Rate Cap;
(ix) the number and Stated Principal Balance of all of the Mortgage Loans for the related Distribution Date, together with updated pool composition information including the following: weighted average mortgage rate and weighted average remaining term;
(x) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxi) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcybankruptcy and those Liquidated Mortgage Loans as of the end of a Prepayment Period) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days Delinquent and (C) in bankruptcy and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days
(xii) or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) the amount of aggregate Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances as of the end of the Due Period, and the general source of funds for reimbursements;
(xiv) the amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xv) the cumulative amount of Applied Realized Loss Amounts through the end of the preceding month;
(xvi) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xvii) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loan Loans as of the close end of business on the Determination Date preceding such Distribution DateDue Period;
(xixviii) unless otherwise set forth in the Form 10-D relating to such distribution date, material breaches of pool asset representation or warranties or transaction covenants which have been reported to the Trustee in accordance with this Agreement;
(xix) the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Due Period;
(xiixx) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the end of the Prepayment Period;
(xxi) the Realized Losses as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period Date and the cumulative Realized Losses through the end of the preceding month;
(xivxxii) Net WAC Rate Carryover Amount whether a Trigger Event exists;
(xxiii) information on loss and delinquency used for each Class determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met;
(xxiv) the amount of Certificates the Prepayment Charges remitted by the Master Servicer and the amount on deposit in the Net WAC Reserve Fund; and
(xvxxv) updated pool composition data including the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargesfollowing: weighted average mortgage rate and weighted average remaining term. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ac1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans in each Loan Group and the aggregate Stated Principal Balance of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for each Class amounts payable in respect of Certificates and the amount on deposit in the Net WAC Reserve FundCap Contract; and
(xv) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesDate. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersCap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, based on information provided by the Securities Administrator Servicer to the extent required by this Agreement, the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxii) through (xxxi) below are not required to be included in such statement during any such calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced aggregate and with respect to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 to 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (6) 181 or more days, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and days, (3) 91 or more to 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (C6) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 181 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or Class A-1 Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) with respect to each Class of Certificates, any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Offered Certificates described in Section 4.04(k) hereof;
(xx) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v);
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest";
(xxii) the aggregate amount of all Advances recovered during the related Due Period;
(xxiii) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxiv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xiiixxv) the Realized Losses during number and amount of pool assets at the related Prepayment Period beginning and the cumulative Realized Losses through the end ending of the preceding montheach period, and updated pool composition information;
(xivxxvi) Net WAC Rate Carryover Amount for each Class any material changes to methodology regarding calculations of Certificates delinquencies and charge-offs;
(xxvii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxviii) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxix) material breaches of pool asset representations or warranties or transaction covenants;
(xxx) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within [Reserved].
(d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:: 100
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-He1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable accrual periods for calculating distributions and general distribution dates;
(ii) the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the related Servicer or the Company for the related Due Period;
(iv) the amount of the related distribution to Holders of each the Class A (other than the Class A-5 Certificates), Class M and Class B Certificates (by Class) allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders of each Class of Class A, Class M and Class B Certificates allocable to interest
(vi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges
(vii) the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of Certificates (if any);
(iiiviii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(ix) the number and Stated Principal Balance of all of the Mortgage Loans for the related Distribution Date, together with updated pool composition information including the following: weighted average mortgage rate and weighted average remaining term;
(x) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxi) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcybankruptcy and those Liquidated Mortgage Loans as of the end of a Prepayment Period) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days Delinquent and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) the amount of aggregate Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances as of the end of the Due Period, and the general source of funds for reimbursements;
(xiii) the amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xiv) the cumulative amount of Applied Realized Loss Amounts through the end of the preceding month;
(xv) unless otherwise previously reported in the Form 10-D, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loan Loans as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) unless otherwise previously reported in the Form 10-D, material breaches of pool asset representation or warranties or transaction covenants which have been reported to the Trustee in accordance with this Agreement or the related Servicing Agreement;
(xviii) the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Due Period;
(xiixix) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the end of the Prepayment Period;
(xx) the Realized Losses as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period Date and the cumulative Realized Losses through the end of the preceding month;
(xivxxi) Net WAC Rate Carryover Amount whether a Trigger Event exists;
(xxii) information on loss and delinquency used for each Class determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met;
(xxiii) the amount of Certificates the Prepayment Charges remitted by the Servicers and the amount on deposit in the Net WAC Reserve Fund; and
(xvxxiv) updated pool composition data including the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargesfollowing: weighted average mortgage rate and weighted average remaining term. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(ia)(iv) and (a)(iia)(v) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Swap Provider, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates;
(ii) the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(iv) the amount of the related distribution to Holders of each the Class A, Class M and Class B Certificates (by class) allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders of each the Class A, Class M and Class B Certificates allocable to interestinterest and the portion thereof (if any), provided by the Swap Agreement and the amount of coverage remaining;
(iiivi) the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for the Class A, Class M and Class B Certificates (if any);
(vii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net WAC Cap Rate;
(viii) the Certificate Principal Balance or Certificate Notional Balance of each the Class A, Class M and Class B Certificates before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivix) the aggregate of the number and Stated Principal Balances Balance of all of the Mortgage Loans and of the Mortgage Loans for the following such Distribution Date, together with updated pool composition information including the following: weighted average mortgage rate and weighted average remaining term;
(vx) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the aggregate amount of Advances included in the distribution on such Distribution DateDate (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances as of the end of the Due Period, and the general source of funds for reimbursements;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxi) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (Delinquent, exclusive of Mortgage Loans in foreclosure and bankruptcy) foreclosure, (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average amount of, if any, of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days excess cashflow or more delinquent or are in bankruptcy or foreclosure or are REO Properties, excess spread and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day application of such Distribution Dateexcess cashflow;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SACO I Trust 2007-1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable to interestinterest and the portion thereof, if any, provided by the Yield Maintenance Agreements;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances of (A) all of the Mortgage Loans, (B) the first lien Mortgage Loans, (C) the second lien Mortgage Loans, (D) the Adjustable Rate Mortgage Loans and of (E) the Fixed Rate Mortgage Loans Loans, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, (3) Adjustable Rate Mortgage Loans and (4) the Fixed Rate Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, (3) Adjustable Rate Mortgage Loans and (4) the Fixed Rate Mortgage Loans;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundwhether a Trigger Event exists; and
(xvxvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx Xxxxxxxxxx xx xxing the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301312) 815904-66006709. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesMortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest; and
(xvxx) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of the Class P A, Class M and Class B Certificates allocable to Prepayment Chargesdescribed in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A) - (D) thereof and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the TrusteeDepositor, the Master Servicer and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and general Distribution Dates for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 5.02 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each Loan Group, the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each Loan Group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (not including Liquidated Mortgage Loans as of the end of the related Prepayment Period) (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of the related Due Period;
(xix) the aggregate Servicing Fee received by the Servicer, and the Master Servicing Fees, if any, received by the Master Servicer during the related Due Period;
(xx) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxi) the amount of any Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date;
(xiiixxii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amounts payable in respect of the preceding monthBasis Risk Cap Agreement;
(xivxxiii) Net WAC amounts payable in respect of the Swap Agreement;
(xxiv) amounts payable in respect of the Interest Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve FundCap Agreement; and
(xvxxv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Basis Risk Cap Provider, the Swap Provider and the ServicersInterest Rate Cap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available cause to be forwarded by first class mail to each Holder of Certificates, a Class of Certificates of the TrusteeTrust Fund, the Master Servicer Servicer, the Seller, the Guarantor and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, therein and (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)therein;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) any Interest Carry Forward Amount for each Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and Balance of the Mortgage Loans for the following Distribution DateMortgage Pool and each Loan Group;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) the Net Rate Carryover paid on any Class of Certificates on such Distribution Date and any Net Rate Carryover remaining on any Class of Certificates on such Distribution Date;
(ix) the amount of Advances for each Loan Group included in the distribution on such Distribution Date;
(viiix) the amount of Applied Realized Loss Amounts applied to the Class M-1 Certificates, Class M-2 Certificates and Class B Certificates for such Distribution Date;
(xi) the cumulative amount of Applied Realized Loss Amounts applied to date andthe Class M-1 Certificates, in addition, if the Certificate Principal Balances of the Subordinate Class M-2 Certificates have all been reduced and Class B Certificates to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group: (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 90 or more days, and (B) in foreclosure and delinquent Delinquent (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan and the date of acquisition thereof;
(xiv) the aggregate Stated Principal Balances of any Mortgage Loans converted to REO Properties, in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date;
(xixv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance Balances of all of the Mortgage Loans as of the last day of such Distribution DateLiquidated Loans;
(xiiixvi) with respect to any Liquidated Loan in each Loan Group, the Realized Losses during the related Prepayment Period loan number and the cumulative Realized Losses through the end of the preceding monthStated Principal Balance relating thereto;
(xivxvii) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andwhether a Trigger Event has occurred;
(xvxviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Certificates;
(xix) the aggregate amount of Mortgage Loans in which respect of which the Master Servicer has submitted claims under the Mortgage Insurance Policy and the aggregate amount of such claims;
(xx) the aggregate amount of claims paid by the Mortgage Insurer, and the aggregate amount of claims which have not been paid by the Mortgage Insurer;
(xxi) the amount, if any, received under each Cap Contract for such Distribution Date;
(xxii) [Reserved];
(xxiii) all payments made by the Master Servicer in respect of Prepayment Charges. The Securities Administrator may make Interest Shortfalls for such Distribution Date;
(xxiv) the foregoing Monthly Statement amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period;
(and, at its option, any additional files containing xxv) the same information in an alternative formatamount paid by the Guarantor under the Fannie Mae Guaranty for such Distribution Date;
(xxxx) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible all amounts paid to the above parties. To Guarantor in respect of the extent timely received from Guarantor Reimbursement Amount for such Distribution Date; and
(xxvii) the Securities Administrator, information set forth in the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Prepayment Charge Schedule.
(b) The Securities AdministratorTrustee's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency. The Trustee may make the above information available to Certificateholders via the Trustee's website at http://www.mbsreporting.com. On the third Business Dax xxxxxxxxx xxxx Xxxxxxxxxxon Date, the Trustee shall deliver to the Guarantor (by electronic medium as specified in the next sentence) a statement identifying the Class Factor for the Class 1-A and Class 2-A Certificates. The Trustee shall deliver such statement on or before 3:00 PM (New York time) on such day via the internet using the following domain name: bond_admin@fanniemae.com. If a Guarantor Payment will be payable xx x Xxxxxxxxxxxx Xxxx, all information required under Section 4.05(a) must also be similarly delivered to the Guarantor on such third Business Day preceding such Distribution Date. The second consecutive failure by the Trustee to deliver the Class Factor (or to deliver an accurate Class Factor) to the Guarantor shall constitute an event of default and permit the Guarantor to remove the Trustee for cause; provided that the Master Servicer had delivered the information set forth above for the related Distribution Date to the Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(vi) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Class A-R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class A-R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each related Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each related Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each related Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a the related REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a the related REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the related REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certs Series 2003-1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans in each Loan Group and the aggregate Stated Principal Balance of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for each Class amounts payable in respect of Certificates and the amount on deposit in the Net WAC Reserve FundCap Contracts; and
(xv) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesDate. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersCap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Securities Administrator shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Master Servicer, the Trustee, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and Servicer, the Servicing Fees amount of the Securities Administrator Fee paid to or retained by the Company Securities Administrator and any amounts constituting reimbursement or indemnification of the related Servicer for the related Due PeriodServicer, Master Servicer, Securities Administrator or Trustee;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xviii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M, Class B-1A, Class B-2A, Class B-3A, Class B-4A and Class C Certificates described in Section 4.04(k) hereof;
(xxi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates on such Distribution Date;
(xiiixxii) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding month;Group Two Mortgage Loans.
(xivb) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities Administrator's internet Internet website. The Securities Administrator's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. To The Securities Administrator shall also be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to access the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Securities Administrator may require registration and the Servicersacceptance of a disclaimer. The Securities Administrator will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Securities Administrator.
(d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A)-(D) thereof and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2005-4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable accrual periods for calculating distributions and general distribution dates;
(ii) the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the related Servicer or the Company for the related Due Period;
(iv) the amount of the related distribution to Holders of each the Class A, Class M and Class B Certificates (by Class) allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders of each Class of Class A, Class M and Class B Certificates allocable to interest
(vi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges
(vii) the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of Certificates (if any);
(iiiviii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(ix) the number and Stated Principal Balance of all of the Mortgage Loans for the related Distribution Date, together with updated pool composition information including the following: weighted average mortgage rate and weighted average remaining term;
(x) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxi) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcybankruptcy and those Liquidated Mortgage Loans as of the end of a Prepayment Period) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days Delinquent and (C) in bankruptcy and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) the amount of aggregate Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances as of the end of the Due Period, and the general source of funds for reimbursements;
(xiii) the amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xiv) the cumulative amount of Applied Realized Loss Amounts through the end of the preceding month;
(xv) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loan Loans as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) unless otherwise set forth in the Form 10-D relating to such distribution date, material breaches of pool asset representation or warranties or transaction covenants which have been reported to the securities administrator in accordance with this Agremeetn or the related Servicing Agreement;
(xviii) the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Due Period;
(xiixix) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the end of the Prepayment Period;
(xx) the Realized Losses as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period Date and the cumulative Realized Losses through the end of the preceding month;
(xivxxi) Net WAC Rate Carryover Amount whether a Trigger Event exists;
(xxii) information on loss and delinquency used for each Class determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met;
(xxiii) the amount of Certificates the Prepayment Charges remitted by the Servicers and the amount on deposit in the Net WAC Reserve Fund; and
(xvxxiv) updated pool composition data including the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargesfollowing: weighted average mortgage rate and weighted average remaining term. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(ia)(iv) and (a)(iia)(v) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the Xxxxx Xxxx, xxx Xxxxicer, the TrusteeNIM Insurer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates and the Class B-4 Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xx) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxxi) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv); and
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; and
(xv) the amount respect of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at a REMIC Regular Interest or REMIC "www.ctslink.comresidual interest". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIM Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIM Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates Class R Certificate and the applicable NIM Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of txx Xxxxx Xxxx, xxx Xervicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates and the Class B-4 Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xx) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxxi) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; andrespect of a REMIC Regular Interest or REMIC "residual interest";
(xvxxiii) the amount of the distribution MI Insurer Fee paid to the MI Insurer;
(xxiv) the number and aggregate Stated Principal Balance of Mortgage Loans covered by the MI Policy as of the end of the related Due Period; and
(A) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to principal, (B) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to interest, and (C) solely to the extent provided by the Servicer, the amount of any claims made on under the MI Policy and the amount of any claims rejected under the MI Policy, each as of such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Date.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency[RESERVED].
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2005-Bc3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesMortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or a Stepup Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) with respect to each Class of Certificates, any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixviii) the Realized Losses number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxix) Net WAC Rate Carryover Amount for [RESERVED];
(xx) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v);
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest or REMIC "residual interest"; and
(xvxxii) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of the Class P Offered Certificates allocable to Prepayment Chargesdescribed in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A) -- (D) thereof and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day of such preceding Distribution Date;
(xiiixv) whether a Stepdown Trigger Event has occurred;
(xvi) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xviii) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxx) Net WAC Rate Carryover Amount for the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest; and
(xvxxiii) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the Cap Contract as described in Section 4.04(j) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of the Class P Offered Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information as described in an alternative formatSection 4.04(j) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095hereof.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Mort Ln Asst BCK Certs Ser 2003-Bc3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Master Servicer shall prepare and make available cause to be forwarded by first Class mail to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Trustee, the Master Servicer Subservicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (Amount, if any);
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) any Interest Carryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following Distribution Date;
(vvi) the related amount of the Servicing Fee paid to or retained by the Subservicer;
(vii) the related amount of the Master Servicing Fees Servicer Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(viviii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiix) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(x) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(viiixi) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxii) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xiii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiv) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) the total number and principal balance of any REO Properties in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date;
(xixvi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all Liquidated Loans in each Loan Group;
(xvii) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto;
(xviii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xix) with respect to each Class of Group II Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xx) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xxi) the number and Stated Principal Balance of any Mortgage Loans as of with respect to each Loan Group which were purchased or repurchased during the last day of such Distribution preceding Due Period and since the Cut-off Date;
(xiiixxii) the Realized Losses during the related Prepayment Period aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and the cumulative Realized Losses through the end of the preceding month;
(xivc) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundwhich a short-payoff has occurred; and
(xvxxiii) the amount year-to-date numbers for 4.05
(a) (xxii)(a), (b) and (c) above, by number of loans and aggregate fees paid to Subservicer under the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Subservicing Side Letter Agreement.
(b) The Securities AdministratorMaster Servicer's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the ServicersSubservicer. The Securities Administrator Master Servicer will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Master Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator Master Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Master Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a the REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a the REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxxx://xxx.xxx.xx.xxx/invr to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer, and any amounts constituting reimbursement or indemnification of the Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) with respect to each Class of Certificates, any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxix) Net WAC Rate Carryover Amount for Reserved;
(xx) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v); and
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; andrespect of a REMIC Regular Interest or REMIC "residual interest".
(xvb) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com"xxxxx://xxx.xxx.xx.xxx/invr. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly and, if necessary, with the cooperation of the Servicer, to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) : The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(iii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iiiii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iviii) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(viv) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(viv) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(viivi) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2005-NCB)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, therein and (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)therein;
(ii) the amount of such distribution to Holders of each Class (other than Class I-PO) allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans in each Loan Group for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related any Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances for each Loan Group included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans in each Loan Group for each such Loan Group and the mortgage pool (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar monthmonth in each Loan Group and the mortgage pool, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiii) the Realized Losses for each Loan Group during the related Prepayment Period and the cumulative Realized Losses for each Loan Group and the mortgage pool through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates the then applicable Senior Percentages, the Senior Prepayment Percentages, the Subordinate Percentages and the amount on deposit in the Net WAC Reserve FundSubordinate Prepayment Percentages; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P XP Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Certificates Series 2002-Ac4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare (on the basis of information obtained by the Master Servicer) and make available the Trustee shall cause to be forwarded by mail to each Holder of Certificates, the TrusteeCertificateholder, the Master Servicer Servicer, the Seller, Bloomberg, and the Depositor Rating Agencies a statement setting forth for the Certificates:following information as to each Class of Certificates to the extent received from the Master Servicer.
(i) the aggregate amount of the related distribution to be made on such Distribution Date to the Holders of each Class of Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal, separately identifying ;
(ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest;
(iii) (A) the aggregate amount of any Principal Prepayments included thereinMonthly Advances required to be made by or on behalf of the Master Servicer with respect to such Distribution Date, (B) the aggregate amount of all scheduled payments of principal included therein such Monthly Advances actually made, and (C) Extra Principal Distribution Amount (the amount, if any);
, by which (iiA) the amount of such distribution to Holders of each Class allocable to interest;
above exceeds (iiiB) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Dateabove;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case Aggregate Loan Balance as of the close of business on the last day of the related Due Period, after giving effect to payments allocated to principal reported under clause (i) above;
(v) the Current Principal Amount of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Current Principal Amounts due to Realized Losses;
(vi) any Realized Losses realized with respect to the Mortgage Loans in (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date;
(vii) the amount of the Servicing Fees retained by the Master Servicer during the Due Period to which such distribution relates;
(viii) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Trustee by the Master Servicer, (a) remaining outstanding as of the end of the prior calendar month, and (b) delinquent 30 to 59 days on a contractual basis, (c) delinquent 60 to 89 days on a contractual basis, (d) delinquent 90 or more days on a contractual basis, and (e) as to which foreclosure proceedings have been commenced, in the case of the foregoing clauses (b) and (c), as of the Determination Date and in the case of the foregoing clauses (a), (d) and (e), as of the close of business on the last Business Day of the immediately preceding month;
(ix) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution DateDate occurs;
(x) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the Determination Distribution Date in such preceding such Distribution Datemonth;
(xi) with respect to replacement of Mortgage Loans in the total number preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Dateeach Replacement Mortgage Loan;
(xii) the three month rolling average of the percent equivalent of a fractionaggregate outstanding Net Prepayment Interest Shortfalls, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Propertiesif any, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of Certificates, after giving effect to the distribution made on such Distribution Date; and
(xiii) the Pass-Through Rate applicable to such Distribution Date with respect to each Class of Certificates. In the Holders case of the Class P Certificates allocable information furnished pursuant to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement subclauses (andi), at its option, any additional files containing the same information in an alternative format(ii) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at and (301vi) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administratorabove, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially amounts shall be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095expressed as a dollar amount per $1,000 of original principal amount of Certificates.
(b) The Securities Administrator's responsibility for making Upon reasonable advance notice in writing, if required by federal regulation, the above Trustee will provide to each Certificateholder that is a savings association, bank or insurance company certain reports and access to information available and documentation regarding the Mortgage Loans sufficient to the Certificateholders is limited permit such Certificateholder to the availability, timeliness and accuracy comply with applicable regulations of the information derived from Office of Thrift Supervision or other regulatory authorities with respect to investment in the Certificates and the Master ServicerServicer shall cooperate with the Trustee in providing such information; provided, however, that the Trustee shall be entitled to be reimbursed by each such Certificateholder for the Trustee's actual expenses incurred in providing such reports and access. The Trustee will provide to any Certificateholder upon request the outstanding Current Principal Amounts as of the date requested and, if then known by the Trustee, the Company and outstanding Current Principal Amount after giving effect to any distribution to be made on the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agencynext following Distribution Date.
(c) Upon the written request of any Certificateholder, the Trustee, as soon as reasonably practicable, shall provide the Certificateholder with such information as has been provided by the Seller to the Trustee, for purposes of satisfying applicable information reporting requirements under Rule 144A.
(d) Within a reasonable 90 days, or such shorter period of time as may be required by statute or regulation, after the end of each calendar year, the Trustee shall cause to be furnished upon request send to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided and make available to each Beneficial Holder (identified as such by the Securities Administrator containing Clearing Agency) in accordance with applicable regulations, a report summarizing the information set forth in clauses (a)(iitems provided to Certificateholders pursuant to Section 4.03(a) and (a)(ii) of this Section 6.05 aggregated for on an annual basis as may be required to enable such calendar year or applicable portion thereof during which such Person was a CertificateholderHolders to prepare their federal income tax returns. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by include the Trustee or the Securities Administrator pursuant to any requirements amount of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date issue discount accrued on each Class of regular Certificates and residual interests created hereunder and on information regarding the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as expenses of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxesTrust Fund. The Master Servicer shall provide the Trustee with such information pursuant as is necessary for the Trustee to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.prepare such reports. 62
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable A, Class M and Class C Certificates allocatable to interest;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances Balance of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for the Class A Certificates, each Class of Class M Certificates and each Class of Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for the amount of the distribution made on such Distribution Date to Holders of each Class of Certificates allocable to interest and the amount on deposit in portion thereof, if any, provided by the Net WAC Reserve FundCap Contracts;
(xvi) whether a Trigger Event exists; and
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. ; and The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular or residual interests Regular Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust 2005-9)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of CertificatesCertificateholder, the TrusteeServicers, the Master Servicer Depositor and the Depositor each Rating Agency a statement based in part on information provided by the applicable Servicer setting forth for with respect to the Certificatesrelated distribution:
(i) the amount of actual Distribution Date, the related distribution to Holders of Record Date, the Interest Accrual Period(s) for each Class allocable to principal, separately identifying (A) for such Distribution Date and the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)LIBOR Determination Date for such Interest Accrual Period;
(ii) the amount of such distribution to Holders of each Class allocable to interestGroup I Available Funds and Group II Available Funds;
(iii) (A) the Certificate amount of Group I Available Funds allocable to principal, the Group I Principal Balance or Certificate Notional Balance Remittance Amount (separately identifying the components thereof) and the Group I Principal Distribution Amount (and the calculation thereof) and (B) the amount of Group II Available Funds allocable to principal, the Group II Principal Remittance Amount (separately identifying the components thereof) and the Group II Principal Distribution Amount (and the calculation thereof);
(iv) the amount of Group I Available Funds allocable to interest and each Group I Interest Remittance Amount and the amount of Group II Available Funds allocable to interest and each Group II Interest Remittance Amount.
(v) the amount of any Unpaid Interest Amount for each Class included in such distribution and any remaining Unpaid Interest Amounts after giving effect (i) to all distributions allocable to principal such distribution, any Group I Basis Risk Carry Forward Amount for each Class of Group I Certificates, the amount of such Group I Basis Risk Carry Forward Amount covered by withdrawals from the Group I Excess Reserve Fund Accounts on such Distribution Date Date, any Group II Basis Risk Carry Forward Amount for each Class of Group II Certificates and (ii) the allocation amount of any Applied Realized Loss Amounts for such Group II Basis Risk Carry Forward Amount covered by withdrawals from the Group II Excess Reserve Fund Accounts on such Distribution Date;
(ivvi) if the aggregate distribution to the Holders of such Class of Certificates is less than the Stated Principal Balances of all of full amount that would be distributable to such Holders if there were sufficient funds available therefor, the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer shortfall and the Servicing Fees paid to or retained allocation of the shortfall as between principal and interest, including any Group I Basis Risk Carry Forward Amount not covered by amounts in the Company or Group I Excess Reserve Fund Account and any Group II Basis Risk Carry Forward Amount not covered by amounts in the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate CapGroup II Excess Reserve Fund Account;
(vii) the amount Class Certificate Balance of Advances included in each Class of Certificates before and after giving effect to the distribution of principal on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if Group I Pool Stated Principal Balance and Group II Pool Stated Principal Balance for the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesrelated Distribution Date;
(ix) the amount of the Expense Fees paid to or retained by the Servicers with respect to such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Group, the amount of P&I Advances included in the distribution on such Distribution Date reported by the Servicers (and the Trustee as successor servicer and any other successor servicer, if applicable) as of the close of business on the Determination Date immediately preceding such Distribution Date;
(xii) for each Loan Group, the number and aggregate outstanding principal amounts of Mortgage Loans (A) Delinquent (exclusive balances of Mortgage Loans in foreclosure and bankruptcy) such Loan Group (1) 31 as to which the Scheduled Payment is delinquent (as calculated in accordance with the MBA method) 30 to 59 days, 60 to 89 days, 90 or more days, and in such other periods and for such times as required by Regulation AB, (2) 61 to 90 days and that have become REO Property, (3) 91 or more days, (B) that are in foreclosure and delinquent (14) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) that are in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more daysbankruptcy, in each case as of the close of business on the last day Business Day of the calendar month immediately preceding such Distribution Datemonth;
(xxiii) for each Loan Group, for each of the preceding 12 calendar months, or all calendar months since the related Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments for such Loan Group (A) due on all outstanding Mortgage Loans in such Loan Group on each of the Due Dates in each such month and (B) delinquent 60 days or more on each of the Due Dates in each such month (as calculated in accordance with the MBA method);
(xiv) for each Loan Group, with respect to any Mortgage Loans in such Loan Group that was liquidated became REO Properties during the preceding calendar month, the loan aggregate number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan Loans and the aggregate outstanding principal balance of such Mortgage Loans as of the close of business on the Determination Date last Business Day of the immediately preceding month and the month and year of acquisition of such Distribution DateREO Properties;
(xixv) for each Loan Group, the total number and outstanding principal balance of any real estate owned or REO Properties in such Loan Group (and market value, if available) as of the close of business on the Determination Date last Business Day of the immediately preceding month;
(xvi) whether a Group I Trigger Event has occurred and is continuing (including the calculation demonstrating the existence of the Group I Trigger Event) and whether a Group II Trigger Event has occurred and is continuing (including the calculation demonstrating the existence of the Group II Trigger Event);
(xvii) the amount on deposit in each Excess Reserve Fund Account (after giving effect to distributions on such Distribution Date);
(xviii) in the aggregate and for each Class of Certificates, the aggregate amount of Applied Realized Loss Amounts incurred during the preceding calendar month and aggregate Applied Realized Loss Amounts through such Distribution Date;
(xiixix) the three month rolling average amount of any Group I Net Monthly Excess Cash Flow and Group II Net Monthly Excess Cash Flow on such Distribution Date and the percent equivalent allocation of a fractionit to the related Certificateholders with respect to Unpaid Interest Amounts, Applied Realized Loss Amounts, Group I Basis Risk Carry Forward Amounts and Group II Basis Risk Carry Forward Amounts;
(xx) the numerator amount of which is any Group I Net Swap Payments, Group I Net Swap Receipts, Group I Swap Termination Payments or Group I Defaulted Swap Termination Payments and the amount of any Group II Net Swap Payments, Group II Net Swap Receipts, Group II Swap Termination Payments or Group II Defaulted Swap Termination Payments;
(xxi) LIBOR, Group I Swap LIBOR and Group II Swap LIBOR;
(xxii) the Group I Subordinated Amount, Group II Subordinated Amount, Group I Specified Subordinated Amount and Group II Specified Subordinated Amount;
(xxiii) the Group I Cumulative Loss Percentage and the aggregate stated Principal Balance amount of Realized Losses used to calculate the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, Group I Cumulative Loss Percentage and Group II Cumulative Loss Percentage and the denominator aggregate amount of which is Realized Losses used to calculate the aggregate Stated Principal Balance Group II Cumulative Loss Percentage;
(xxiv) the amount distributed on the Class I-CE and Class II-CE Certificates;
(xxv) the amount of all of the Mortgage Loans as of the last day of any Subsequent Recoveries for each Loan Group for such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxxvi) for each Loan Group, the amount number of Mortgage Loans in such Loan Group at the beginning and end of the distribution made on such Distribution Date applicable reporting period, the pool factor, and the weighted average interest rate, and weighted average remaining term. In addition, each Form 10-D prepared and filed by the Trustee pursuant to Section 8.12 shall include the following information with respect to the Holders related distribution:
(i) material breaches of Mortgage Loan representations and warranties of which the Trustee has actual knowledge or has received written notice; and
(ii) material breaches of any covenants under this Agreement of which the Trustee has actual knowledge or has received written notice.
(b) The Trustee's responsibility for providing the above statement to the Certificateholders, each Rating Agency and the Depositor is limited, if applicable, to the availability, timeliness and accuracy of the Class P Certificates allocable to Prepayment Chargesinformation derived from the Servicers. The Securities Administrator may Trustee shall make available the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders above statement via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall will initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing https://www.tss.db.com/invr and assistance in using the website can be obtained by calling the Securities Administratoroxxxxxxx xx xxxxxxx xxx Xxxxtee's customer service investor relations desk at (301) 8151-6600800-735-7777. Parxxxx A paper copy of the above statement will also be made avxxxxxxx xxxx xxx xequest. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service investor relations desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To As a condition to access the extent timely received from the Securities AdministratorTrustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will also not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall make the related Monthly Statements available to Certificateholders each Analytics Company via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided to Certificateholders prepared pursuant to this Section 6.05 4.02(b). The Trustee shall cooperate in good faith with the Depositor and the Servicers to reconcile any discrepancies in such statements, and the Trustee shall provide any corrections to such statements to each Rating AgencyAnalytics Company as soon as reasonably practicable after the related Distribution Date. The Trustee will also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement to Certificateholders and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(ia)(iii) and (a)(iia)(v) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue ServiceNotwithstanding any other provision of this Agreement, the Securities Administrator Trustee shall furnish comply with all federal withholding requirements respecting payments made or received under the Interest Rate Swap Agreements and payments to the Holders Certificateholders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The or original issue discount (orthat the Trustee reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. If the Trustee does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, in the case of Trustee shall indicate the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect withheld to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxesCertificateholders. The information pursuant to clauses (i), (ii), (iii) and (iv) above Such amounts shall be provided by the Depositor pursuant deemed to Section 10.12have been distributed to such Certificateholders for all purposes of this Agreement.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Swap Provider, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates;
(ii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iii) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the applicable Servicer or the Master Servicer for the related Due Period;
(iv) with respect to each Loan Group, the amount of the related distribution to Holders of each Class allocable to principal, separately identifying identifying
(A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiv) the amount of such distribution to Holders holders of each the Class I-A , Class I-M, Class II-A and Class II-M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Interest Rate Swap Agreement
(vi) with respect to each Loan Group, the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for the related Offered Certificates (if any);
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net WAC Rate CapCap Rate;
(viiviii) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date with respect to such Loan Group and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group for such Distribution Date;
(ix) with respect to each Loan Group, the number and Stated Principal Balance of all the Mortgage Loans for such Distribution Date, together with updated pool composition information;
(x) the Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the related Net WAC Cap Rate;
(xi) with respect to each Loan Group, the aggregate amount of Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxii) the number and aggregate principal amounts Stated Principal Balance of Mortgage the Group I Loans and Group II Loans (A) Delinquent (Delinquent, exclusive of Mortgage Loans in foreclosure and bankruptcy) foreclosure, (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage each Loan that was liquidated during the preceding calendar monthGroup, the loan number amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xiv) with respect to each Loan Group, the aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loan Loans as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixv) with respect to each Loan Group, information on loss, delinquency or other tests used for determining early amortization, liquidation, stepdowns or other performance triggers as more completely described in the prospectus supplement and whether the trigger was met;
(xvi) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixvii) with respect to each Loan Group, the cumulative Realized Losses through the end of the preceding month;
(xviii) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in such Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date,
(xix) with respect to each Loan Group and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xiiixx) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end with respect to each Loan Group, material breaches of the preceding monthMortgage Loan representations or warranties or transaction covenants;
(xivxxi) Net WAC Rate Carryover Amount for with respect to each Class Loan Group, the amount of Certificates the Prepayment Charges remitted by the master servicer and the amount on deposit in the related reserve fund;
(xxii) the amount of any Group I Net WAC Reserve Swap Payment or Group II Net Swap Payment payable to the Trust, any Group I Net Swap Payment or Group II Net Swap Payment payable to the related Swap Provider, any Group I Swap Termination Payment or Group II Swap Termination Payment payable to the Trust and any Group I Swap Termination Payment or Group II Swap Termination Payment payable to the related Swap Provider.
(xxiii) information regarding any new issuance of securities backed by the same asset pool, any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund, if applicable; and
(xvxxiv) any material changes in the amount solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund. The Depositor covenants that if there is a material change in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund that it will notify the Securities Administrator five calendar days before each Distribution Date, and if no such notification occurs, the Securities Administrator has no obligation to report with respect to (xxiv). The Depositor covenants to the Securities Administrator that there will be no new issuance of securities backed by the same asset pool, so the Securities Administrator will only be responsible in (xxiii) above for reporting any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than five (5) Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the distribution made on such Distribution Date information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Holders of Securities Administrator by the Class P Certificates allocable Master Servicer, and the Securities Administrator shall not be obligated to Prepayment Chargesverify, recompute, reconcile or recalculate any such information or data. The Securities Administrator may shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The Securities Administrator will make the foregoing Monthly Statement such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the parties hereto, the Certificateholders and each Rating Agency via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"xxx.xxxxxxxx.xxx. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements such statements are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. To the extent timely received from As a condition to access the Securities Administrator’s internet website, the Trustee will also make Securities Administrator may require registration and the related Monthly Statements available to Certificateholders via the Trustee's internet websiteacceptance of a disclaimer. The Trustee's internet website Securities Administrator will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the related Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating AgencyAgency on its website at xxx.xxxxxxxx.xxx.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the The Securities Administrator shall furnish quarterly to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the related Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the related Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the related Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the related Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxiii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate in accordance with the OTS methodology for reporting delinquencies;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage loans that became Liquidated Loans as of such Distribution Date calculated as of the last day preceding Distribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the LIBOR Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period and as a result of such reductions in the cumulative Realized Losses through the end of the preceding monthaggregate;
(xivxxvi) Net WAC Rate Carryover Amount for with respect to each Class of Certificates and Certificates, the amount of any Non-Supported Interest Shortfalls on deposit in such Distribution Date;
(xxvii) the Net WAC Reserve Fundnumber and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of any Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xvxxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk Trustee, who may be reached directly at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy and completeness of the information or data provided to Certificateholders via the Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Certificate Insurers, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) with respect to each Loan Group, the amount of the related distribution to Holders of each related Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Group I Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of the Class I-A-1 Certificates and Class I-A-2 Certificates allocable to interest and the portion thereof, if any, provided by the related Yield Maintenance Agreements;
(iii) with respect to each Loan Group, the amount of such distribution to Holders of each related Class allocable to interest;
(iiiiv) any Net WAC Rate Carryover Amounts for the Group I Certificates;
(v) with respect to each Loan Group, the Certificate Principal Balance or Certificate Notional Balance Amount of each related Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group, for such Distribution Date;
(ivvi) with respect to each Loan Group, the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the related Mortgage Loans for the following Distribution Date;
(vvii) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(viviii) with respect to each Loan Group, the Pass-Through Rate for each Class of Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC related Interest Rate Cap;
(viiix) with respect to each Loan Group, the amount of Advances included in the distribution on such Distribution Date;
(viiix) with respect to each Loan Group, the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) with respect to each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to each Loan Group and any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixiii) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xiixiv) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the calendar month preceding such Distribution Date;
(xiiixv) with respect to each Loan Group, the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxvi) with respect to Loan Group I, the Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and;
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class I-P Certificates and Class II-P Certificates allocable to related Prepayment Charges.
(xviii) the Class I-A-3 Insurer Premium Amount and the Class II-A Insurer Premium Amount, as applicable;
(xix) the Class I-A-3 Reimbursement Amount, separately indicating the amount related to (a) interest draws on the Class I-A-3 Policy, (b) principal draws on the Class I-A-3 Policy and (c) all other amounts representing such Class I-A-3 Reimbursement Amount; and
(xx) the Class II-A Reimbursement Amount, separately indicating the amount related to (a) interest draws on the Class II-A Policy, (b) principal draws on the Class II-A Policy and (c) all other amounts representing such Class II-A Reimbursement Amount. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Certificate Insurers via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“wxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular related Regular Interests and residual interests related Residual Interests created hereunder and on the related Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class related class of regular Regular Interests and residual interests Residual Interests created hereunder and the related Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class related class of regular Regular Interests or residual interests Residual Interests created hereunder and to the related Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the related Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available the Trustee shall cause to be forwarded by mail to each Holder of Certificateholder, the Servicer, the Depositor, and, as long as the Class AR5 Certificates, Class AR17 Certificates and Class S4 Certificates are outstanding, to the Trusteeapplicable Rating Agencies and Bloomberg, the Master Servicer and the Depositor a statement setting forth for the Certificatesfollowing information as to each Class of Certificates to the extent applicable:
(i) the amount of the related such distribution to Holders of each Class allocable to representing principal, separately identifying (A1) the aggregate amount of any Principal Prepayments included therein, (B2) the portion of such distribution, if any, representing a Monthly Advance of principal, and (3) the aggregate Certificate Principal Balance of all scheduled payments each Class Certificates, after giving effect to such distributions, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal included therein and (C) Extra Principal Distribution Amount (if any)principal;
(ii) the amount of such distribution to Holders representing interest and the portion of each Class allocable to such distribution, if any, representing a Monthly Advance of interest;
(iii) the Certificate aggregate Principal Balance or Certificate Notional Balance Balances of each Class after giving effect (i) to all distributions allocable to principal the Mortgage Loans as of the close of business on such Distribution Date and (ii) the allocation amount of any Applied Realized Loss Amounts for such Distribution DatePrincipal Prepayments and the aggregate Principal Balances of the Mortgage Loans repurchased by the Seller during the immediately preceding Prepayment Periods;
(iv) the aggregate of Servicing Fees, Additional Servicing Fees (as applicable), Class U Additional Servicing Fee (as applicable) and Class W Additional Servicing Fee (as applicable) retained by the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution DateServicer;
(v) the related amount of the Master Servicing Fees Monthly Advances paid to or retained by the Master Servicer Servicer, segregating such Monthly Advances relating to the Class U Mortgage Loans, such Monthly Advances relating to the Class V Mortgage Loans, such Monthly Advances relating to the Class W Mortgage Loans, such Monthly Advances relating to the Class Y Mortgage Loans and such Monthly Advances relating to the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodClass AR5 Mortgage Loans and;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) delinquent (1) 31 to 60 daysone month, (2) 61 to 90 days and two months, (3) 91 three months or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent bankruptcy;
(1vii) 31 the book value (within the meaning of 12 C.F.R.ss.571.13 or comparable provision) of any REO Property;
(viii) the respective amounts, if any, of Realized Losses allocated to 60 days, (2) 61 the respective Classes of Certificates with respect to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(ix) all Monthly Advances recovered during the related Due Period and the extent of Monthly Advances remaining unreimbursed;
(x) with respect to the amount of any Mortgage Loan that was liquidated tax imposed on a "prohibited transaction" of the Trust Fund as defined in Section 860F of the Code during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Daterelated Due Period;
(xi) the total number and principal balance amount of any real estate owned reduction in Certificate Principal Balance, the applicable Cumulative Interest Shortfall Amount, applicable Class S4 Accrued Certificate Interest or REO Properties as applicable Interest Distribution Amount for any Class attributable to the application of the close of business Realized Losses thereto on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fractionCertificate Rate applicable for such Distribution Date, the numerator of which is Class AR5 Pass-Through Rate, the aggregate stated Principal Balance of Class 1-A-1 Pass-Through Rate, the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO PropertiesClass 1-X Pass-Through Rate, each Class 2-A Pass-Through Rate, the Class 2-X Pass-Through Rate and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of Class AR17 C-B Pass-Through Rate, in each case, applicable for such Distribution Date;
(xiii) the Realized Losses aggregate principal balance of all Mortgage Loans which are the subject of substitution or purchase by the Seller pursuant to Section 2.01. 2.02. 2.03, 2.04 or 3.12, during the related Prepayment Period month of such Distribution Date, together with the number of such Mortgage Loans removed and the cumulative Realized Losses through amount of any resulting shortage deposited into the end of Custodial Account by the preceding Seller or Servicer in such month;
(xiv) Net WAC Rate Carryover the Class AR5 Distribution Amount for each Class of Certificates and the Class AR17 Distribution Amount (separately identifying such amount on deposit in the Net WAC Reserve Fund; andby each group of Group U Mortgage Loans);
(xv) the Class W Distribution Amount, the Class V Distribution Amount, the Class Y Distribution Amount and, if the Class AR17 Certificates are no longer outstanding, the Class U Distribution Amount, in each case, separating out such amount of allocable to principal and such amount allocable to interest;
(xvi) the distribution made Cumulative Interest Shortfall Amount or any shortfalls in Class S4 Accrued Certificate Interest for each Class, as applicable; and
(xvii) cumulative Realized Losses since the Delivery Date and for the three year period commencing on such Distribution Date the Delivery Date. The foregoing information shall be provided by the Trustee to the Holders holders of the Class P AR5 Certificates, Class AR17 Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and Class S4 Certificates via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing “xxx.xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements Distribution Date statements are distributed to the holders of the Class AR5 Certificates, Class AR17 Certificates and Class S4 Certificates in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To , provided that such procedures are no less convenient for the extent timely received from the Securities AdministratorClass AR5 Certificateholders, the Trustee will also make the related Monthly Statements available to Class AR17 Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availabilityand Class S4 Certificateholders, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause provide timely and adequate notification to be furnished upon request to each Person who at all above parties regarding any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.changes
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-S4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the TrusteeDepositor, the Master Servicer and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Accrual Period and Distribution Date for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicers pursuant to Section 5.02 of this Agreement or the Servicing Agreement, as applicable, or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each Loan Group, the amount of any Prepayment Charges remitted by the Servicers;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each Loan Group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (not including Liquidated Mortgage Loans as of the end of the related Prepayment Period) (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of the related Due Period;
(xix) the aggregate Servicing Fees received by the Servicers, the Master Servicing Fees, if any, received by the Master Servicer and the Credit Risk Manager Fees received by the Credit Risk Manager during the related Due Period;
(xx) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxi) the amount of any Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date;
(xiiixxii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amounts payable in respect of the preceding monthSwap Agreement;
(xivxxiii) Net WAC amounts payable in respect of the Interest Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve FundCap Agreement; and
(xvxxiv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Swap Provider and the ServicersInterest Rate Cap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) the Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Certs Ser 2003-Ac3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at www.ctslink.com to each Holder of Certificatesa Class of Certificates of the Trxxx Xxxx, xxx Xervicer, the TrusteeNIMs Insurer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesMortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest; and
(xvxx) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of the Class P A, Class M and Class B Certificates allocable to Prepayment Chargesdescribed in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administratorbx xxxxxxx xxx Xrustee's customer service desk at (301) 815-6600. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a entixxxx xx xxxx x paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A) - (D) thereof and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Servicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each class of the Class A, Class R, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Datedate;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Sd1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of CertificatesCertificateholder, the TrusteeServicer, the Master Depositor and each Rating Agency, a statement based on the information provided by the Servicer as agreed upon between the Servicer and the Depositor a statement Trustee from time to time (the "Servicer Remittance Report") setting forth for with respect to the Certificates:related distribution (the "Monthly Statement"):
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal A Distribution Amount (if any)for such Distribution Date;
(ii) the amount of principal to be distributed to the Class A Certificateholders, separately stating the contribution thereto from each of the amounts specified in clauses (1) 77 through (5), inclusive, of the definition of Principal Remittance Amount and the amount of Unpaid Class A Principal Shortfall distributed to such distribution to Holders of each Class allocable to interestClass;
(iii) the Certificate Principal Balance or Certificate Notional Balance amount of each interest to be distributed to Class after giving effect (i) to all distributions allocable to principal A Certificateholders on such Distribution Date and (iiseparately identifying any Class A Unpaid Interest Shortfall included in such distribution);
(iv) the allocation remaining Class A Certificate Balance after giving effect to the payment of any Applied Realized Loss Amounts principal to be made on such Distribution Date (on which interest will be calculated on the next succeeding Distribution Date);
(v) the Class M-1 Distribution Amount for such Distribution Date;
(ivvi) the aggregate amount of principal to be distributed to each Class of Class M-1 Certificateholders, separately stating the contribution thereto from each of the Stated Principal Balances of all amounts specified in clauses (1) through (5), inclusive, of the Mortgage Loans definition of Principal Remittance Amount;
(vii) the amount of interest to be distributed to Class M-1 Certificateholders on such Distribution Date (separately identifying any Class M-1 Unpaid Interest Shortfall included in such distribution);
(viii) the amount of Unpaid Class M-1 Principal Shortfall distributed to such Class, the aggregate amount of any Class M-1 Liquidation Loss Amount, the Class M-1 Liquidation Loss Interest Amount, the Class M-1 Unpaid Liquidation Loss Interest Shortfall Amount, and the Class M-1 Principal Shortfall;
(ix) the remaining Class M-1 Certificate Balance and the Class M-1 Adjusted Certificate Balance after giving effect to the payment of principal to be made on such Distribution Date (on which interest will be calculated on the Mortgage Loans next succeeding Distribution Date);
(x) the Class M-2 Distribution Amount for the following such Distribution Date;
(vxi) the related amount of principal to be distributed to the Class M-2 Certificateholders, separately stating the contribution thereto from each of the amounts specified in clauses (1) through (5), inclusive, of the definition of Formula Principal Distribution Amount and the amount of Unpaid Class M-2 Principal Shortfall distributed to such Class, the aggregate amount of any Class M-2 Liquidation Loss Amount, the Class M-2 Liquidation Loss Interest Amount, the Class M-2 Unpaid Liquidation Loss Interest Shortfall Amount, and the Class M-2 Principal Shortfall;
(xii) the amount of interest to be distributed to Class M-2 Certificateholders on such Distribution Date (separately identifying any Class M-2 Unpaid Interest Shortfall included in such distribution);
(xiii) the remaining Class M-2 Certificate Balance and the Class M-2 Adjusted Certificate Balance after giving effect to the payment of principal to be made on such Distribution Date (on which interest will be calculated on the next succeeding Distribution Date);
(xiv) the Class B-1 Distribution Amount for such Distribution Date;
(xv) the amount of principal to be distributed to the Class B-1 Certificateholders, separately stating the contribution thereto from each of the amounts specified in clauses (1) through (5), inclusive, of the definition of Principal Remittance Amount and the amount of Unpaid Class B-1 Principal Shortfall distributed to such Class, the aggregate amount of any Class B-1 Liquidation Loss Amount, the Class B-1 Unpaid Liquidation Loss Interest Shortfall Amount, and the Class B-1 Principal Shortfall;
(xvi) the amount of interest to be distributed to Class B-1 Certificateholders on such Distribution Date (separately identifying any Class B-1 Unpaid Interest Shortfall included in such distribution);
(xvii) the remaining Class B-1 Certificate Balance and the Class B-1 Adjusted Certificate Balance after giving effect to the payment of principal to be made on such Distribution Date (on which interest will be calculated on the next succeeding Distribution Date;
(xviii) the Class B-2 Distribution Amount for such Distribution Date;
(xix) the amount of principal to be distributed to the Class B-2 Certificateholders, separately stating the contribution thereto from each of the amounts specified in clauses (1) through (5), inclusive, of the definition of Principal Remittance Amount and the amount of Unpaid Class B-2 Principal Shortfall distributed to such Class, the aggregate amount of any Class B-2 Liquidation Loss Amount, the Class B-2 Unpaid Liquidation Loss Interest Shortfall, and the Class B-2 Principal Shortfall Amount;
(xx) the amount of interest to be distributed to Class B-2 Certificateholders on such Distribution Date (separately identifying any Class B-2 Unpaid Interest Shortfall included in such distribution);
(xxi) the remaining Class B-2 Certificate Balance and the Class B-2 Adjusted Certificate Balance after giving effect to the payment of principal to be made on such Distribution Date (on which interest will be calculated on the next succeeding Distribution Date;
(xxii) the Pool Scheduled Principal Balance for such Distribution Date;
(xxiii) the Overcollateralization Amount for such Distribution Date;
(xxiv) the amount of the Master Servicing Fees paid to or retained by Fee, the Master Servicer Trustee Fee and the Servicing Fees paid Loss Mitigation Advisor Fee and any other insurance fees, if applicable, with respect to or retained by the Company or the related Servicer for the related Due Periodsuch Distribution Date;
(vixxv) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viixxvi) the amount of Advances included in the distribution on such Distribution Date and the aggregate amount of Outstanding Amount Advanced as of the last day of the calendar month preceding such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixxxvii) the number and aggregate principal amounts of Mortgage Loans Contracts in foreclosure, in bankruptcy or which are delinquent (A) Delinquent (exclusive of Mortgage Loans with a notation indicating which Contracts, if any, are in foreclosure and or bankruptcy) (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 90 or more days, as of the close of business on the last day of the calendar month preceding such Distribution Date, assuming twelve, thirty day months;
(Bxxviii) in foreclosure the Average Sixty Day Delinquency Ratio for such Distribution Date;
(xxix) the total number and delinquent principal balance of any repossessed Collateral (1and market value, if available) 31 as of the last day of the calendar month preceding such Distribution Date;
(xxx) the Current Realized Losses incurred during the preceding calendar month and Cumulative Realized Losses as of such Distribution Date;
(xxxi) the weighted average term to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case maturity of the Contracts as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixxxii) the total number and principal balance of any real estate owned or REO Properties as of Net Funds Cap for the close of business on Due Period immediately preceding the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixxxiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthGuarantee Payment Amount, if any for such Distribution Date;
(xivxxxiv) Net WAC Rate Carryover the Guarantee Outstanding Amount remaining on such Distribution Date after any Guarantee Payment Amounts for each such Distribution Date;
(xxxv) the Class of Certificates B-1 Simple Interest Deficiency Amount, the Class B-2 Simple Interest Deficiency Amount, the Class M-1 Simple Interest Deficiency Amount and the amount on deposit in the Net WAC Reserve FundClass M-2 Simple Interest Deficiency Amount, as of such Distribution Date; and
(xvxxxvi) the amount gross weighted average coupon of the distribution made on Contracts as of the first date of the applicable period for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet websiteDate. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will also make the monthly statements to Certificateholders available a copy of each statement provided pursuant month to each party referred to in this Section 6.05 4.04(a) via the Trustee's website. The Trustee's website can be accessed at http://www.jpmorgan.com/absmbs or at such other site as the Xxxxxxx xxx xxxxxxxxx from time to each Rating Agencytime. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer.
(cb) Within Upon request, within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based a statement setting forth the payments of principal and interest on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) such Person's Class of this Section 6.05 Certificates aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class Certificateholders allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments principal prepayments included therein, therein and (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)therein;
(ii) the amount of such distribution to Holders of each Class Certificateholders allocable to interestinterest and, with respect to the Group I Certificates, the portion thereof, if any, provided by the Swap Agreement;
(iii) Unpaid Interest Shortfall Amount and any Net WAC Cap Rate Carryover Amounts for the Class I-A, Class I-M and Class I-B Certificates and Group II Offered Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each the Class I-A, Class I-M and Class I-B Certificates and Group II Certificates before and after giving effect (i) to all distributions allocable to the distribution of principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for and Charge-Off Amounts, as applicable, on such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances Balance of all of the Mortgage Group I Loans and of the Mortgage Loans or Group II HELOCs, as applicable, for the following Distribution Date;
(vvi) the related amount of the Master related Servicing Fees paid to or retained by and the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Collection Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, for such Distribution Date and whether such Pass-Through Rate rate was limited by based on the related Net WAC Rate CapCap Rate;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts Stated Principal Balance of Mortgage the Group I Loans or Group II HELOCs, as applicable, (A) Delinquent (Delinquent, exclusive of Mortgage Group I Loans or Group II HELOCs in foreclosure and bankruptcy) foreclosure, (1) 31 to 31-60 days, (2) 61 to 61-90 days and (3) 91 or more days, and (B) in foreclosure and delinquent Delinquent (1) 31 to 31-60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 61-90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(x) with respect to any Mortgage Group I Loan or Group II HELOC that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss onor Charge-Off Amount, as applicable, on such Mortgage Group I Loan or Group II HELOC as of the close end of business on the Determination Date preceding such Distribution Daterelated Collection Period;
(xi) whether a Trigger Event exists;
(xii) the total number and principal balance of any related real estate owned owned, or REO Properties REO, properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Collection Period;
(xiixiii) the three cumulative Realized Losses or Charge-Off Amounts, as applicable, through the end of the preceding month;
(xiv) the three-month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Group I Loans or Group II HELOCs that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance Balances of all of the Mortgage Group I Loans or Group II HELOCs, as of the last day of such Distribution Date;
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andapplicable,
(xv) the amount of the distribution made Prepayment Charges remitted by the related Servicer and the amount on such Distribution Date deposit in the related Reserve Fund; and
(xvi) the amount of any Net Swap Payment payable to the Holders portion of the Class P Certificates allocable trust representing the Group I Certificates, any Net Swap Payment payable to Prepayment Chargesthe Swap Provider, any Swap Termination Payment payable to the trust and any Swap Termination Payment payable to the Swap Provider. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than four (4) Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Securities Administrator by the Master Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator may shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The Securities Administrator will make the foregoing Monthly Statement such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the parties hereto, the Certificateholders and each Rating Agency via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be by located at "www.ctslink.com"xxx.xxxxxxxx.xxx. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements such statements are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. To the extent timely received from As a condition to access the Securities Administrator’s internet website, the Trustee will also make Securities Administrator may require registration and the related Monthly Statements available to Certificateholders via the Trustee's internet websiteacceptance of a disclaimer. The Trustee's internet website Securities Administrator will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicersrelated Servicer. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust 2005-5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable A, Class M and Class C Certificates allocatable to interest;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances Balance of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for the Class A Certificates, each Class of Class M Certificates and each Class of Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, and (B) in foreclosure and delinquent Delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andwhether a Trigger Event exists;
(xvxvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. ; and The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular or residual interests Regular Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-Wm3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Credit Risk Manager and the Depositor via its website, a statement setting forth for the Certificates with respect to the related Mortgage Loans and related Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all Balance of the Mortgage Loans and of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Servicing Fees and Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer Master Servicer, respectively, for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Balance of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount deposited to the Interest Rate Cap Account on deposit the related Floating Rate Payer Payment Date, including a breakdown of amounts withdrawn in connection with such Distribution Date;
(xv) amounts withdrawn from the Net WAC Reserve FundInterest Rate Cap Account and applied to the Certificates in accordance with Section 5.08 hereof on such Distribution Date; and
(xvxvi) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and the Seller for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesDate. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's its internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Depositor, the Master Servicer, the Company Cap Provider and the ServicersServicer. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.09 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.09 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the TrusteeMaster Servicer, the Master Servicer Swap Provider and the Depositor a statement setting forth for the Certificates:
(i) the amount of such distribution to Holders of each Class allocable to interest;
(ii) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiiii) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Derivative Administration Agreement;
(iiiiv) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(v) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivvi) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvii) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(viviii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiix) the amount of Advances included in the distribution on such Distribution Date;
(viiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days Delinquent and (C) in bankruptcy and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxii) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxvi) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvii) the amount on deposit in of any Net Swap Payment payable to the Derivative Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Derivative Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He12)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the TrusteeDepositor, the Master Servicer and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and Distribution Date for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicers pursuant to Section 5.02 of this Agreement or the Servicing Agreement, as applicable, or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each Loan Group, the amount of any Prepayment Charges remitted by the Servicers;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each Loan Group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (not including Liquidated Mortgage Loans as of the end of the related Prepayment Period) (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of the related Due Period;
(xix) the aggregate Servicing Fee received by the Servicer, and the Master Servicing Fees, if any, received by the Master Servicer during the related Due Period;
(xx) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxi) the amount of any Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date;
(xiiixxii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amounts payable in respect of the preceding monthBasis Risk Cap Agreement;
(xivxxiii) Net WAC amounts payable in respect of the Swap Agreement;
(xxiv) amounts payable in respect of the Interest Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve FundCap Agreement; and
(xvxxv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“wxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Basis Risk Cap Provider, the Swap Provider and the ServicersInterest Rate Cap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer Servicer, and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced aggregate and with respect to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(x) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or Class A-1 Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) with respect to each Class of Certificates, any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixviii) the Realized Losses number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxix) Net WAC Rate Carryover Amount for as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contracts as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M and Class B Certificates described in Section 4.04(k) hereof;
(xx) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v); and
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fund; andrespect of a REMIC Regular Interest or REMIC "residual interest".
(xvb) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement -91- and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Trustee.
(d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) : The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(iii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iiiii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iviii) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(viv) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(viv) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(viivi) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-Wmc2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class allocable to interestinterest and the portion thereof, if any, provided by the Yield Maintenance Agreements;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances of (A) all of the Mortgage Loans Loans, (B) the first lien Mortgage Loans, (C) the second lien Mortgage Loans, and of (D) the Adjustable Rate Mortgage Loans Loans, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Offered Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balances of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundwhether a Trigger Event exists; and
(xvxvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx Xxxxxxxxxx xx xxing the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301312) 815904-66008162. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He8)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) with respect to each loan group, the amount of the related distribution to Holders holders of each the offered certificates (by class), other than the Class I-A-2 Certificates and Class II-A-2 Certificates, allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments principal prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)included therein;
(ii) with respect to each loan group, the total cash flows received and the general sources thereof;
(iii) with respect to each loan group, the amount of such distribution to Holders of each Class allocable to interestinterest and with respect to the Class I-A-1 Certificates and the Class II-A-1 Certificates, the amount allocable to interest and the portion thereof, if any, provided by the related interest rate corridor contract;
(iiiiv) the applicable accrual periods for calculating distributions and general distribution dates;
(v) with respect to each loan group, the Net WAC Rate Carryover Amount and any accrued by unpaid interest for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund;
(vi) with respect to each loan group, the Certificate Principal Balance or Certificate Notional Balance Amount of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivvii) with respect to each loan group, the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(viviii) the Pass-Through Rate for each Class of Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC related Interest Rate Cap;
(viiix) the amount of Advances included in the distribution on such Distribution Date;
(viii) with respect to each loan group, the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Datedate;
(x) with respect to each loan group, whether a stepdown date or a trigger event is in effect;
(xi) with respect to each loan group and any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixii) with respect to each loan group, the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average end of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Daterelated Prepayment Period;
(xiii) with respect to each loan group and if applicable, material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have become material over time;
(xiv) with respect to each loan group, the amount of the Prepayment Charges remitted by each Servicer and the amount on deposit in the related reserve fund;
(xv) with respect to each loan group, the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxvi) the special hazard amount, fraud loss amount and bankruptcy amount, if applicable, as of the close of business on the applicable distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargesdate. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular or residual interests Regular Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any)) and (D) the amount of Prepayment Charges distributed to the Class P Certificates;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(iv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans in each Loan Group and the aggregate Stated Principal Balance of the Mortgage Loans Loans, in each case for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer Servicers for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixviii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xix) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xix) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xiii) the amount of any Basis Risk Shortfalls;
(xiv) Net WAC Rate Carryover Amount for each Class amounts payable by or to the Supplemental Interest Trust in respect of Certificates and the amount on deposit in the Net WAC Reserve Fund; andSwap Agreement;
(xv) the amount of the distribution made on Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller for such Distribution Date Date;
(xvi) as reported by Option One to the Holders Securities Administrator, (A) the amount of payments received from Option One related to claims under the PMI Policy during the related Prepayment Period (and the number of PMI Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of PMI Mortgage Loans to which such payments related); and
(xvii) as reported by Option One to the Securities Administrator, (A) the dollar amount of claims made under each PMI Policy that were denied (as identified by Option One) during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the Class P Certificates allocable cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of PMI Mortgage Loans to Prepayment Chargeswhich such denials related). The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicers and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan Trust, Series 2005-He1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available cause to be forwarded by first class mail to each Holder of Certificates, a Class of Certificates of the TrusteeTrust Fund, the Master Servicer Servicer, each Seller and the Depositor a statement setting forth for the Certificates:
(i1) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, therein and (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)therein;
(ii2) the amount of such distribution to Holders of each Class allocable to interest;
(iii3) any Interest Carry Forward Amount for each Class;
(4) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date, (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date and (iii) the allocation of any Subsequent Recoveries for such Distribution Date;
(iv5) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and Balance of the Mortgage Loans for the following Distribution DateMortgage Pool and each Loan Group;
(v6) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi7) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii8) the Net Rate Carryover paid on any Class of Certificates on such Distribution Date and any Net Rate Carryover remaining on any Class of Certificates on such Distribution Date;
(9) the amount of Advances for each Loan Group included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix10) the number and aggregate principal amounts of Mortgage Loans in each Loan Group: (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 30 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;113
(x11) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan and the date of acquisition thereof;
(12) the total number and Stated Principal Balance of any Mortgage Loans converted to REO Properties in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date;
(xi13) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Liquidated Mortgage Loans as of the last day of such Distribution DateLoans;
(xiii14) with respect to any Liquidated Mortgage Loan in each Loan Group, the Realized Losses during the related Prepayment Period loan number and the cumulative Realized Losses through the end of the preceding monthStated Principal Balance relating thereto;
(xiv15) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit whether a Trigger Event is in the Net WAC Reserve Fund; andeffect;
(xv16) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable Certificates;
(17) prior to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement end of the Funding Period, (and, at its optionA) the amount on deposit in the Pre-Funding Account (if any) on the related Determination Date (net of investment income) and (B) the aggregate Stated Principal Balances of the Subsequent Mortgage Loans for Subsequent Transfer Dates occurring during the related Due Period; and on the Distribution Date immediately following the end of the Funding Period, any additional files containing unused Pre-Funded Amount (if any) included in the same information in an alternative formatPrincipal Distribution Amount for such Distribution Date;
(18) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk amount, if any, of Realized Losses and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible Subsequent Recoveries allocated to the above parties. To Class 2-A-2B Certificates and the extent timely Subordinate Certificates for such Distribution Date;
(19) the amount, if any, due to the Trustee on behalf of the Trust, and the amount, if any, received from by the Securities AdministratorTrustee on behalf of the Trust, in respect of each Corridor Contract for such Distribution Date;
(20) all payments made by the Master Servicer in respect of Compensating Interest for such Distribution Date;
(21) the information set forth in the Prepayment Charge Schedule;
(22) with respect to any Mortgage Loan repurchased by a Seller or purchased by the Depositor or the Master Servicer, the Trustee will also make loan number and Stated Principal Balance relating thereto; and
(23) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Due Period.
(b) The Securities AdministratorTrustee's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available Trustee shall send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating AgencyAgency and the NIM Insurer. The Trustee may make the above information available to Certificateholders via the Trustee's website at http://www.bnyinvestorreporting.com.
(c) Within a reasonable period of time after the end rexxxxxxxx xxxxxx xx xxxx xxxxx xxx xnd of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(ia)(1), (a)(2) and (a)(iia)(6) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Class A-R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class A-R Certificates with respect to the following matters:
(i1) The original projected principal and interest cash flows on the Closing Date on each related Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii2) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each related Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii3) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv4) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each related Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v5) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a the related REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;; 115
(vi6) The amount and timing of any non-interest expenses of a the related REMIC; and
(vii7) Any taxes (including penalties and interest) imposed on the related REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i1), (ii2), (iii3) and (iv4) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2005-Ab3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the TrusteeDepositor, the Master Servicer Credit Risk Manager and the Depositor Swap Provider via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and general Distribution Dates for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution Prepayment Charges distributed to the Class P Certificates and (D) the Monthly Excess Interest, if any;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the related Servicer pursuant to Section 3.27 of this Agreement or the Servicing Agreement, as applicable or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses for the Mortgage Loans to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount, the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date;
(xii) the amount of any Prepayment Charges remitted by the Servicers;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the end of the related Prepayment Period;
(xvii) the total number and principal balance of any real estate owned or REO Properties and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance scheduled principal balance of the Mortgage Loans that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance scheduled principal balances of all of the Mortgage Loans Loans, as applicable as of the last day of such Distribution Date;
(xiiixix) the Realized Losses aggregate Stated Principal Balance of Mortgage Loans that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO properties;
(xx) the aggregate Servicing Fees received by the Servicers, and the Master Servicing Fee, if any, received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xivxxi) Net WAC Rate Carryover Amount for each Class [reserved];
(xxii) the amount, if any, of Certificates other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxiii) the amount of any Basis Risk Shortfalls and the amount on deposit in the Net WAC Basis Risk Shortfall Reserve FundFund after all deposits and withdrawals on such Distribution Date;
(xxiv) amounts payable in respect of the Swap Agreement; and
(xvxxv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicers and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.10 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.10 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities AdministratorTrustee's internet website. The Securities AdministratorTrustee's internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx Xxxxxxxxxx xx xxing the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301312) 815904-66004839. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities AdministratorTrustee's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at xxx.xxxxx.xxx/xxxxxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(viiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof;
(xixiv) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans in each Loan Group as of the last day of such preceding Distribution Date;
(xiiixvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxxiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in and purpose of any withdrawal from the Net WAC Reserve FundCollection Account pursuant to Section 3.08(a)(vii); and
(xvxxv) as of each Distribution Date, the amount interest rate cap agreement payments that have accrued in favor of or been paid to each class of Certificates for federal income tax purposes under Section 2.07 hereof and the distribution made on such Distribution Date to the Holders interest rate cap agreement payments that each class of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in has accrued an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order obligation to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095has made for federal income tax purposes.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Servicer will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form Forms 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Interest Accrual Period and general Distribution Dates for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each loan group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of P&I Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.27 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each loan group, the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each loan group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixix) the Realized Losses aggregate Servicing Fee received by the Servicer, and the master servicing fees, if any, received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xiv) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxx) the amount of the distribution made Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date;
(xxi) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxii) the amount of any Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date to the Holders Date;
(xxiii) amounts payable in respect of the Class P Certificates allocable Cap Contract;
(xxiv) with respect to Prepayment Chargeseach loan group, whether the Stepdown Date has occurred and whether any Trigger Event is in effect; and
(xxv) any legal proceedings pending against the Sponsor, the Depositor or the Trustee, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail Class V-Mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersCap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of CertificatesCertificateholder, the TrusteeDepositor, the Master Servicer Trustee and the Depositor each Rating Agency a statement based, in part, upon the information provided by the Servicers setting forth for with respect to the Certificatesrelated distribution:
(i) the amount of the related distribution to Holders of Class factor for each Class of Certificates;
(ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date;
(iii) the amount thereof allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any);
(iiiv) the amount of such distribution distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, and (B) the amount of interest from previous calendar months;
(iiiv) the Certificate aggregate amount of the Servicing Fees paid as required under the Servicing Agreements and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder;
(vi) the Class Principal Balance or Certificate Notional Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect (i) to all distributions allocable to the distribution of principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivvii) the aggregate of the Stated Scheduled Principal Balances of all of the Mortgage Loans and Balance of the Mortgage Loans for the following Distribution Date;
(vviii) the related amount of the Master Servicing Fees expenses and fees paid to or retained by the Master Servicer Servicers and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodTrustee with respect to such Distribution Date;
(viix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viixi) the amount of Delinquency Advances included in the distribution on such Distribution Date;
(viii) Date and the cumulative aggregate amount of Applied Realized Loss Amounts to date andDelinquency Advances reported by the Servicers (and the Master Servicer, in additionthe Trustee as successor master servicer and any other successor master servicer, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixapplicable) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as outstanding as of the close of business on the last day of the calendar month Determination Date immediately preceding such Distribution Date;
(xxii) the number and aggregate Scheduled Principal Balances of Mortgage Loans as reported to the Securities Administrator by the applicable Servicer, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (each to be calculated using the Mortgage Bankers Association (MBA) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceeding;
(xiii) with respect to any Mortgage Loan that was liquidated Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the loan Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date;
(xiv) the total number and Stated Principal Balance ofprincipal balance of any REO Properties (and market value, and Realized Loss on, such Mortgage Loan if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xixv) in the total number aggregate and principal balance for each Class of any real estate owned or REO Properties as Certificates, the aggregate amount of Realized Losses incurred during the close of business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date;
(xiixvi) the three month rolling average aggregate amount of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the percent equivalent of a fraction, related Prepayment Period;
(xvii) the numerator of which is Prepayment Premiums collected by or paid by the Servicers;
(xviii) the percentage equal to the aggregate stated realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day Cut-off Date;
(xix) the amount distributed on the Class P Certificates;
(xx) the amount of any Subsequent Recoveries for such Distribution Date;
(xiiixxi) the Realized Losses during the related Prepayment Period updated Mortgage Loan information, such as weighted average interest rate, and the cumulative Realized Losses through the end of the preceding monthweighted average remaining term;
(xivxxii) Net WAC the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund;
(xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.
(xxiv) the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution Date; and
(xxv) the Certificate Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xv) the amount of the distribution made on applicable to such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Date.
(b) The Securities Administrator's ’s responsibility for making providing the above information available statement to the Certificateholders Certificateholders, each Rating Agency, the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company Servicers and the ServicersSellers. The Securities Administrator shall provide the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations desk at (000) 000-0000. The Securities Administrator will also make available a paper copy of each the above statement provided pursuant to this Section 6.05 to each Rating Agencyavailable upon request.
(c) Within Upon request, within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(iia)(vii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the . The Securities Administrator shall furnish be entitled to rely on information provided by third parties for purposes of preparing the Holders of foregoing report, but shall not be responsible for the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end accuracy of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12information.
Appears in 1 contract
Samples: Trust Agreement (GSR 2007-Oa2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available the Trustee shall cause to be forwarded by mail to each Holder of CertificatesCertificateholder, the TrusteeServicer, the Master Servicer Depositor, and, as long as the Class AR5 Certificates are outstanding, to the Rating Agencies and the Depositor Bloomberg, a statement setting forth for the Certificatesfollowing information as to each Class of Certificates to the extent applicable:
(i) the amount of the related such distribution to Holders of each Class allocable to representing principal, separately identifying (A1) the aggregate amount of any Principal Prepayments included therein, (B2) the portion of such distribution, if any, representing a Monthly Advance of principal, and (3) the aggregate Certificate Principal Balance of all scheduled payments each Class Certificates, after giving effect to such distributions, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal included therein and (C) Extra Principal Distribution Amount (if any)principal;
(ii) the amount of such distribution to Holders representing interest and the portion of each Class allocable to such distribution, if any, representing a Monthly Advance of interest;
(iii) the Certificate aggregate Principal Balance or Certificate Notional Balance Balances of each Class after giving effect (i) to all distributions allocable to principal the Mortgage Loans as of the close of business on such Distribution Date and (ii) the allocation amount of any Applied Realized Loss Amounts for such Distribution DatePrincipal Prepayments and the aggregate Principal Balances of the Mortgage Loans repurchased by the Seller during the immediately preceding Prepayment Periods;
(iv) the aggregate of Servicing Fees and Additional Servicing Fees (as applicable) retained by the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution DateServicer;
(v) the related amount of the Master Servicing Fees Monthly Advances paid to or retained by the Master Servicer Servicer, segregating such Monthly Advances relating to Loan Group 5, Loan Group 6, Loan Group 7, Loan Group 8, Loan Group 9 and the Servicing Fees paid Class Y Mortgage Loans, and the Monthly Advances relating to or retained by the Company or the related Servicer for the related Due PeriodClass AR5 Mortgage Loans;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) delinquent (1) 31 to 60 daysone month, (2) 61 to 90 days and two months, (3) 91 three months or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent bankruptcy;
(1vii) 31 the book value (within the meaning of 12 C.F.R.ss.571.13 or comparable provision) of any REO Property;
(viii) the respective amounts, if any, of Realized Losses allocated to 60 days, (2) 61 the respective Classes of Certificates with respect to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(ix) all Monthly Advances recovered during the related Due Period and the extent of Monthly Advances remaining unreimbursed;
(x) with respect to the amount of any Mortgage Loan that was liquidated tax imposed on a "prohibited transaction" of the Trust Fund as defined in Section 860F of the Code during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Daterelated Due Period;
(xi) the total number and principal balance amount of any real estate owned reduction in Certificate Principal Balance, the Class A Cumulative Interest Shortfall Amount or REO Properties as Class A or Class R Interest Distribution Amount for any Class attributable to the application of the close of business Realized Losses thereto on the Determination Date preceding such Distribution Date;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, Certificate Rate applicable for such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of Class AR5 Pass-Through Rate applicable for such Distribution Date;
(xiii) the Realized Losses aggregate principal balance of all Mortgage Loans which are the subject of substitution or purchase by the Seller pursuant to Section 2.01. 2.02. 2.03, 2.04 or 3.12, during the related Prepayment Period month of such Distribution Date, together with the number of such Mortgage Loans removed and the cumulative Realized Losses through amount of any resulting shortage deposited into the end of Custodial Account by the preceding Seller or Servicer in such month;
(xiv) Net WAC Rate Carryover Amount for each the Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andAR5 Distribution Amount;
(xv) the Class Y Distribution Amount, separating out such amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumptionsuch amount allocable to interest;
(iixvi) The projected remaining principal and interest cash flows the Cumulative Interest Shortfall Amount for each Class, as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICapplicable; and
(viixvii) Any taxes (including penalties cumulative Realized Losses since the Delivery Date and interest) imposed for the three year period commencing on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12Delivery Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xx) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a 113 monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxiv) the aggregate amount of all Advances recovered during the related Due Period;
(xxv) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiii) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of Excess Interest for any class of the preceding monthLIBOR Certificates;
(xivxxxv) Net WAC Rate Carryover the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;; 115
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available cause to be forwarded by first class mail to each Holder of Certificates, a Class of Certificates of the TrusteeTrust Fund, the Master Servicer Servicer, the Seller and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, therein and (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)therein;
(ii) the amount of such distribution to Holders of each Class allocable to interest;
(iii) any Interest Carry Forward Amount for each Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution DateMortgage Pool and each Loan Group;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(viiviii) with respect to the May 2003 Distribution Date, the Seller Shortfall Interest Requirement (if any) for the related Master Servicer Advance Date;
(ix) the amount of Advances for each Loan Group included in the distribution on such Distribution Date;
(viiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, date;
(xi) the cumulative amount of any Realized Losses that have not been allocated claim payments made pursuant to any Certificatesthe Mortgage Insurance Policies and the cumulative amount of claims rejected or denied under the Mortgage Insurance Policies;
(ixxii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group: (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 90 or more days, and (B) in foreclosure and delinquent Delinquent (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution DateLoan;
(xixiv) and the total number and principal balance aggregate Stated Principal Balances of any real estate owned or Mortgage Loans converted to REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance Balances of all Liquidated Loans;
(xvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto;
(xvii) with respect to each Loan Group, whether a Trigger Event has occurred;
(xviii) any Net Rate Carryover paid on each Class of Certificates (other than the Mortgage Loans as Class A-R, Class C and Class P Certificates) and any remaining Net Rate Carryover remaining on each Class of Certificates (other than the last day of Class A-R, Class C and Class P Certificates) on such Distribution Date;
(xiiixix) the Realized Losses during amount of Prepayment Charges collected or waived by the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthMaster Servicer;
(xivxx) Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund[reserved];
(xxi) [reserved]; and
(xvxxii) the amount of amount, if any, received under the distribution made on Cap Contract for such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Date.
(b) The Securities AdministratorTrustee's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available send a copy of each statement provided pursuant to this Section 6.05 4.05 to each Rating Agency. The Trustee may make the above information available to Certificateholders via the Trustee's website at xxxx://xxx.xxxxxxxxxxxx.xxx.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(vi) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Class A-R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class A-R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each related Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each related Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each related Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a the related REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a the related REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the related REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2003 Bc2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the applicable record dates, accrual periods, determination dates for calculation distributions and general Distribution Dates;
(ii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iii) the related amount of the Servicing Fees paid or retained by the Master Servicer;
(iv) with respect to each Loan Group, the amount of the related distribution to Holders of each related Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Group I Extra Principal Distribution Amount (if any);
(iiv) the amount of such any distribution to Holders of each Class allocable to interest;
(iiivi) the amount of such distribution to Holders of the Class I-A-1 Certificates allocable to interest;
(vii) with respect to each Loan Group, the amount of such distribution to Holders of each related Class allocable to interest;
(viii) any Net WAC Rate Carryover Amounts for the Group I Certificates;
(ix) with respect to each Loan Group, the Certificate Principal Balance or Certificate Notional Balance Amount of each related Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group, for such Distribution Date;
(ivx) with respect to each Loan Group, the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the related Mortgage Loans for the following Distribution Date;
(vxi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vixii) with respect to each Loan Group, the Pass-Through Rate for each Class of Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC related Interest Rate Cap;
(viixiii) with respect to each Loan Group, the amount of Advances included in the distribution on such Distribution Date;
(viiixiv) with respect to each Loan Group, the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxv) with respect to each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 or more daysdays Delinquent, (B) in foreclosure and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 or more days Delinquent and (C) in bankruptcy and delinquent (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 or more daysdays Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxvi) with respect to each Loan Group and any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixvii) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xiixviii) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the calendar month preceding such Distribution Date;
(xiiixix) with respect to each Loan Group, the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxx) with respect to Loan Group I, the Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and
(xvxxi) the amount of the distribution made on such Distribution Date to the Holders of the Class I-P and Class II-P Certificates allocable to related Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx Asxxxxxxxx xx xxing xxxng the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx Partxxx xxxx xxx unable xnable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular related Regular Interests and residual interests related Residual Interests created hereunder and on the related Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class related class of regular Regular Interests and residual interests Residual Interests created hereunder and the related Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class related class of regular Regular Interests or residual interests Residual Interests created hereunder and to the related Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the related Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Certificate Insurer and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Accrual Period and Distribution Date for each Class of Certificates;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the amount of Prepayment Charges distributed to the Class P Certificates, (D) the Extra Principal Distribution Amount and (E) the Monthly Excess Interest with respect to the Certificates, if any);
(iiv) the amount of such distribution distributed to Holders of each Class of Certificates on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution distributions on such the Distribution Date;
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(ix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.27 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement, as applicable;
(x) the cumulative amount of Applied Realized Loss Amounts Losses for the Mortgage Loans to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses for the Mortgage Loans that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount, the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date;
(xii) the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any related Mortgage Loans that were (A) Delinquent delinquent (exclusive of related Mortgage Loans in foreclosure and bankruptcyforeclosure) using the “OTS” method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any related Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three or more scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any related Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance scheduled principal balance of the Mortgage Loans that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance scheduled principal balances of all of the Mortgage Loans as of the last day of such Distribution Date;
(xiiixix) the Realized Losses aggregate Stated Principal Balance for each Mortgage Loan that is sixty (60) days or more delinquent or is in bankruptcy or foreclosure or are REO Properties;
(xx) the aggregate Servicing Fee received by the Servicer, and the Master Servicing Fees received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xivxxi) Net WAC Rate Carryover Amount for each Class the amount, if any, of Certificates other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxii) the amount of any Basis Risk Shortfalls and the amount on deposit in the Net WAC Basis Risk Shortfall Reserve FundFund after all deposits and withdrawals on such Distribution Date;
(xxiii) amounts payable in respect of the Swap Agreement; and
(xvxxiv) whether the amount of the distribution made on such Distribution Stepdown Date to the Holders of the Class P Certificates allocable to Prepayment Chargeshas occurred and whether any Trigger Event is in effect. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Company Servicer and the ServicersSwap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.08 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.08 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Securities Administrator shall calculate the Significance Percentage of the Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Securities Administrator shall promptly notify the Depositor and the Depositor, on behalf of the Securities Administrator, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Securities Administrator shall promptly notify the Depositor and the Depositor shall, within five (5) Business Days of such Distribution Date, deliver to the Securities Administrator the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Securities Administrator shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interestinterest and the portion thereof, if any, provided by the Swap Administration Agreement;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Balance Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) for each Loan Group, the aggregate of the Stated Principal Balances Balance of (A) all of the Mortgage Loans and of in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vvi) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixx) the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent Delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiiixiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxv) Net WAC Rate Carryover Amount for each Class of Certificates and whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event, a Group III Sequential Trigger Event, or a Group IV Sequential Trigger Event exists;
(xvii) the amount on deposit in of any Net Swap Payment payable to the Swap Administrator, any Net WAC Reserve FundSwap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; and
(xvxviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's Trustee’s internet website. The Securities Administrator's Trustee’s internet website shall initially be located at "www.ctslink.com"“xxx.xxxxxxxx.xxx”. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's Trustee’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator Trustee will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized Realized Losses with respect to the Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at www.etrustee.net to each Holder of Certificatesa Class of Certificates of the Trusx Xxxx, xxx Xxxxicer, the Trustee, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxi) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xviii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2A Certificates, the Floating Rate Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxiii) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through Group Two Mortgage Loans.
(xxiv) with respect to each Class of Certificates, the end amount of the preceding monthany Non-Supported Interest Shortfalls on such Distribution Date;
(xivxxv) Net WAC Rate Carryover Amount for the number and amount of pool assets at the beginning and ending of each Class period, and updated pool composition information;
(xxvi) any material changes to methodology regarding calculations of Certificates delinquencies and charge-offs;
(xxvii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the amount general source of funds for reimbursements;
(xxviii) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxix) material breaches of pool asset representations or warranties or transaction covenants;
(xxx) information on deposit in ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the Net WAC Reserve Fundtrigger was met; and
(xvxxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administratorxxxxxxx xxx Xxxxtee's customer service desk at (301312) 815904-66007992. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper entitlex xx xxxx x xxper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely Trustee based on Mortgage Loan data provided to the Trustee by the Servicer and information received by the Trustee from the Securities AdministratorSwap Counterparty. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related Monthly Statements available REO Property that has been provided to Certificateholders via the Trustee by the Servicer and (ii) regarding the Swap Agreement, that has been provided to the Trustee by the Swap Counterparty, and the Trustee shall be entitled to rely conclusively on the Mortgage Loan data provided by the Servicer and shall have no liability for any errors in such Mortgage Loan data. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xx) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxiv) the aggregate amount of all Advances recovered during the related Due Period;
(xxv) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiii) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of Excess Interest for any class of the preceding monthLIBOR Certificates;
(xivxxxv) Net WAC Rate Carryover the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2006-Bc4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest or REMIC "residual interest"; and
(xvxx) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of the Class P A, Class M and Class B Certificates allocable to Prepayment Chargesdescribed in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses clause (a)(i) of this Section 4.05 (without regard to subclauses (A) through (D) thereof) and clause (a)(ii) of this Section 6.05 4.05 aggregated for such calendar -88- year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2004-Wmc5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Dateand the date of acquisition thereof, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number and amount of prepayment charges and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xx) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxiv) the aggregate amount of all Advances recovered during the related Due Period;
(xxv) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiii) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of Excess Interest for any class of the preceding monthLIBOR Certificates;
(xivxxxv) Net WAC Rate Carryover the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx"liable for the dissemination of information in accordance with this Agreement. Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.114
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SURF Mortgage Loan Asset-Backed Certificates, Series 2007-Bc1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Certificate Insurers, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) with respect to each Loan Group, the amount of the related distribution to Holders of each related Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Group I Extra Principal Distribution Amount (if any);
(ii) the amount of such distribution to Holders of the Class I-A-1 Certificates and Class I-A-2 Certificates allocable to interest and the portion thereof, if any, provided by the related Yield Maintenance Agreements;
(iii) with respect to each Loan Group, the amount of such distribution to Holders of each related Class allocable to interest;
(iiiiv) any Net WAC Rate Carryover Amounts for the Group I Certificates;
(v) with respect to each Loan Group, the Certificate Principal Balance or Certificate Notional Balance Amount of each related Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group, for such Distribution Date;
(ivvi) with respect to each Loan Group, the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the related Mortgage Loans for the following Distribution Date;
(vvii) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(viviii) with respect to each Loan Group, the Pass-Through Rate for each Class of Certificates with respect to the current Interest Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC related Interest Rate Cap;
(viiix) with respect to each Loan Group, the amount of Advances included in the distribution on such Distribution Date;
(viiix) with respect to each Loan Group, the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ixxi) with respect to each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to each Loan Group and any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xixiii) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close end of business on the Determination Date preceding such Distribution Daterelated Prepayment Period;
(xiixiv) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of the calendar month preceding such Distribution Date;
(xiiixv) with respect to each Loan Group, the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xivxvi) with respect to Loan Group I, the Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; and;
(xvxvii) the amount of the distribution made on such Distribution Date to the Holders of the Class I-P Certificates and Class II-P Certificates allocable to related Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(xviii) the Class I-A-3 Insurer Premium Amount and the Class II-A Insurer Premium Amount, as applicable;
(xix) the Class I-A-3 Reimbursement Amount, separately indicating the amount related to (a) interest draws on the Class I-A-3 Policy, (b) The Securities Administrator's responsibility for making principal draws on the above information available to the Certificateholders is limited to the availability, timeliness Class I-A-3 Policy and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for all other amounts representing such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any nonI-interest expenses of a REMICA-3 Reimbursement Amount; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac5)
Monthly Statements to Certificateholders. (a) Not later than On or before each Distribution Determination Date, the Securities Administrator Servicer shall prepare and, concurrently with each distribution to Certificateholders, deliver to the Trustee and make available the Trustee shall cause to be delivered and mailed to each Holder of Certificates, Certificateholder at the Trustee, address appearing on the Master Servicer and the Depositor Certificate Register a statement as of the related Distribution Date setting forth for (the Certificates:"MONTHLY REPORT"):
(i) the amount of Class A Principal Distributable Amount and the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any B Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)Distributable Amount;
(ii) the amount of such distribution to Holders of each Class allocable to interestA Interest Distributable Amount and the Class B Interest Distributable Amount;
(iii) the Certificate amount of the Class A and Class B Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such and Interest Carryover Shortfalls, if any, for the next succeeding Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for change in the Class A and Class B Principal and Interest Carryover Shortfalls from such Distribution Date;
(iv) the aggregate of amount distributable on such date and allocable to the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution DateYield Supplement Deposit;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ix) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case Pool Balance as of the close of business on the last day of the calendar month preceding related Due Period;
(vi) the amount of fees payable on such Distribution Date, separately identifying the Monthly Servicing Fee and the Trustee Fee;
(vii) the amount otherwise distributable to the Class B Certificateholders that will be distributed to the Class A Certificateholders on such Distribution Date;
(viii) the remaining Class A Certificate Balance and Class B Certificate Balance after giving effect to the distribution of principal to be made on such Distribution Date;
(ix) the Class A Pool Factor, the Class A Certificate Factor, the Class B Pool Factor and the Class B Certificate Factor immediately before and immediately after such Distribution Date;
(x) with the amount of Advances made by the Servicer in respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close related Contracts and the related Due Period and the amount of business on unreimbursed Advances in respect of the Determination Date preceding such Distribution Daterelated Contracts determined by the Servicer to be a Defaulted Contract;
(xi) the total number and principal balance of any real estate owned or REO Properties as of amounts on deposit in the close of business on the Determination Date preceding such Distribution DateYield Supplement Account;
(xii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution Date;Reserve Fund Requisite Amount; and
(xiii) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of the preceding month;
distributions described in (xivi) Net WAC Rate Carryover Amount for each Class of Certificates or (ii) above payable with funds withdrawn from the Reserve Fund and the amount on deposit remaining in the Net WAC Reserve Fund; and
(xv) Fund after giving effect to all deposits and withdrawals from the amount of the distribution made Reserve Fund on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095date.
(b) The Securities Administrator's responsibility for making Within the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer shall prepare and the Trustee shall cause to be furnished upon request mail to each Person who Certificateholder of record at any time during such year a report as to the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses aggregate amounts reported pursuant to subsections (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (ivviii) above shall be provided by the Depositor pursuant of this SECTION 7.06, attributable to Section 10.12such Certificateholder.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Dealer Auto Receivables Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at www.etrustee.net to each Holder eaxx Xxxxxx xx x Xlass of CertificatesCertificates of the Issuing Entity, the Servicer, the Trustee, the Master Servicer Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and any amounts constituting reimbursement or indemnification of the Servicing Fees paid to Servicer or retained by the Company or the related Servicer for the related Due PeriodTrustee;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage loans that became Liquidated Loans as of such Distribution Date calculated as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xix) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Class A, Class M and Class B Certificates on such Distribution Date;
(xiiixxv) the Realized Losses number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Prepayment Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the cumulative Realized Losses through the end of the preceding monthGroup Two Mortgage Loans;
(xivxxvi) Net WAC Rate Carryover Amount for with respect to each Class of Certificates and Certificates, the amount of any Non-Supported Interest Shortfalls on deposit in such Distribution Date;
(xxvii) the Net WAC Reserve Fundnumber and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xvxxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the amount balances of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. any prefunding or revolving accounts, if applicable.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comwww.etrustee.net". Axxxxxxxxx Assxxxxxxx xx xxing xxxxx the website can be obtained by calling the Securities Administrator's customer service desk Trustee at (301312) 815992-66001102. Parxxxx Partiex xxxx xxx unable xxxble to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ff2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class, in the aggregate and with respect to the Group A Mortgage Loans and the Group B Mortgage Loans;
(iii) any Interest Carryforward Amount and the Adjusted Interest Carryfoward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, Mortgage Loans serviced by the cumulative amount of any Realized Losses that have not been allocated to any CertificatesServicer;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xv) whether a Trigger Event has occurred;
(xvi) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xviii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixix) the Realized Losses number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxx) Net WAC Rate Carryover Amount for the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest.
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Net WAC Reserve Fund; and
(xvCertificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of Offered Certificates (other than the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information S Certificates) as described in an alternative formatSection 4.04(k) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095hereof.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(iv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(vii) the amount of Advances included in the distribution on such Distribution Date;
(viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any CertificatesGroup One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xixii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiv) whether a Stepdown Trigger Event or a Class A-1 Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixvii) the Realized Losses number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxviii) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xix) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Net WAC Reserve FundCap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M, Class B and Class C Certificates described in Section 4.04(k) hereof; and
(xvxxi) the amount any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the distribution made Class A, Class M and Class B Certificates on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. Date.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during may require registration and the calendar year was a Certificateholder, based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder acceptance of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxesdisclaimer. The Trustee will not be liable for the dissemination of information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12in accordance with this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ffh1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available cause to be forwarded by first class mail to each Holder of CertificatesCertificateholder, each Servicer, the TrusteeDepositor and each Rating Agency, the Master Servicer and the Depositor a statement based on the information provided by each Servicer pursuant to Section 4.05 herein setting forth for with respect to the Certificatesrelated distribution:
(i) the amount of the related distribution to Holders of each Class thereof allocable to principal, separately identifying (A) indicating the aggregate amount of any portion thereof attributable to Scheduled Payments and Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Extra Principal Distribution Amount (if any)Prepayments;
(ii) the amount of such distribution to Holders of each Class thereof allocable to interestinterest or any Carryforward Interest included in such distribution;
(iii) if the Certificate Principal Balance or Certificate Notional Balance distribution to the Holders of each such Class after giving effect (i) of Certificates is less than the full amount that would be distributable to all distributions allocable to principal on such Distribution Date Holders if there were sufficient funds available therefor, the amount of the shortfall and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Datethereof as between principal and interest;
(iv) the aggregate Class Principal Balance of each Class of Certificates after giving effect to the Stated Principal Balances distribution of all of the Mortgage Loans and of the Mortgage Loans for the following principal on such Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer Aggregate Collateral Balance and the Servicing Fees paid to or retained by the Company or the related Servicer Aggregate Collateral Group Balance for the related Due Periodsuch Distribution Date;
(vi) the Overcollateralization Amount for such Distribution Date;
(vii) the amount of the Servicing Fees, the Excess Servicing Fee, the Trustee Fee, the Credit Risk Manager Fee and any other mortgage insurance fees, if applicable, with respect to such Distribution Date;
(viii) the Pass-Through Rate for each Class of LIBOR Certificates with respect to such Distribution Date and the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Capfor each Class of Class A-IO Certificates;
(viiix) the amount of Advances included in the distribution on such Distribution Date and the aggregate amount of Advances outstanding as of the last day of the calendar month preceding such Distribution Date;
(viii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates;
(ixx) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) which are delinquent (1) 31 30 to 60 59 days, (2) 61 60 to 90 89 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and delinquent (1) 31 to 60 daysfor the Mortgage Loans in the aggregate, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance ofaggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and Realized Loss onfor the Mortgage Loans in the aggregate, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) the total number and principal balance of any real estate owned or REO Properties as last day of the close of business on the Determination Date calendar month preceding such Distribution Date;
(xii) the three month rolling average number and aggregate principal amounts of the percent equivalent of a fractionMortgage Loans that were in bankruptcy, the numerator of which is the aggregate stated Principal Balance of for each Loan Group and for the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Propertiesthe aggregate, and the denominator of which is the aggregate Stated Principal Balance of all as of the Mortgage Loans as close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the Realized Losses during the related number and aggregate principal amounts of Mortgage Loans with respect to which Prepayment Period Premiums were collected and the cumulative Realized Losses through the end aggregate amount of the preceding monthsuch Prepayment Premiums;
(xiv) Net WAC the Rolling Three Month Delinquency Rate Carryover Amount for such Distribution Date;
(xv) the total number and principal balance of any REO Properties (and market value, if available), for each Class Loan Group and for the Mortgage Loans in the aggregate, as of Certificates the last day of the calendar month preceding such Distribution Date;
(xvi) the total number and principal balance of any Mortgage Loans that were repurchased during the calendar month preceding such Distribution Date;
(xvii) the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses included in such distribution;
(xviii) the amount on deposit in the Prefunding Account (including a breakdown of amounts released during the prior calendar month in respect of Aggregate Subsequent Transfer Amounts or amounts included in the Principal Remittance Amount on the October 2004 Distribution Date);
(xix) the weighted average term to maturity of the Mortgage Loans as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xx) the portion of any distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date;
(xxi) the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such Distribution Date);
(xxii) the gross weighted average coupon of the Mortgage Loans as of the first date of the applicable period for such Distribution Date;
(xxiii) the aggregate number of Mortgage Loans in the pool;
(xxiv) the Net WAC Rate;
(xxv) the Senior Enhancement Percentage;
(xxvi) the Net Excess Spread;
(xxvii) any amounts deposited in the Basis Risk Reserve FundFund on such Distribution Date pursuant to Section 4.02(e)(xi), and the balance of the Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and
(xvxxviii) the amount on deposit in the Interest Rate Cap Account (including a breakdown of the distribution made on amounts withdrawn in connection with such Distribution Date to and the Holders of Target Amount for the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet websitepreceding Distribution Date). The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's ’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Company Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP Level Factors for each Class of Offered Certificates as of such Distribution Date, using a format and media mutually acceptable to the ServicersTrustee and Bloomberg. In connection with providing the information specified in this Section 4.04 to Bloomberg, the Trustee and any director, officer, employee or agent of the Trustee shall be indemnified and held harmless by DLJMC, to the extent, in the manner and subject to the limitations provided in Section 8.05. The Securities Administrator Trustee will also make the monthly statements to Certificateholders available a copy of each statement provided pursuant month to each party referred to in this Section 6.05 4.04(a) via the Trustee’s website. The Trustee’s website can be accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Trustee may designate from time to time. The Trustee may fully rely upon and shall have no liability with respect to information provided by each Rating AgencyServicer.
(cb) Within Upon request, within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(vii) of this Section 6.05 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Class I-A Insurer, the Master Servicer and the Depositor a statement setting forth for the Certificates:
(i) With respect to each Loan Group, the amount of the related distribution to Holders of each related Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) Group I Extra Principal Distribution Amount and Group II Extra Principal Distribution Amount (if any);
(ii) With respect to each Loan Group, the amount of such distribution to Holders of Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class allocable to interestof Certificates;
(iii) With respect to each Loan Group, the Certificate Principal Balance or Certificate Notional Balance Amount of each related Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts with respect to such Loan Group, for such Distribution Date;
(iv) With respect to each Loan Group, the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution DateLoans;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) with respect to each Loan Group, the Pass-Through Rate for each related Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net WAC Rate Cap;
(vii) with respect to each Loan Group, the amount of Advances included in the distribution on such Distribution Date;
(viii) with respect to each Loan Group, the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesdate;
(ix) with respect to each Loan Group, the number and aggregate principal amounts Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, (B) in foreclosure and delinquent and (1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more days and Delinquent (C) in bankruptcy and delinquent (1delinquent(1) 31 to 60 days30 days Delinquent, (2) 61 to 90 60 days Delinquent and (3) 91 90 days or more daysDelinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) second lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans;
(x) with respect to each Loan Group and any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xi) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xii) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans as of the last day of such Distribution DateDistribution;
(xiii) with respect to each Loan Group, the Realized Losses during the related Prepayment Due Period and the cumulative Realized Losses through the end of the preceding month;
(xiv) Net WAC Rate Carryover Amount the aggregate amount of Extraordinary Trust Fund Expenses withdrawn from the Protected Account or the Distribution Account for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fund; andsuch Distribution Date;
(xv) the Class I-A Insurer Premium Amount;
(xvi) the Class I-A Reimbursement Amount, separately indicating the amount related to (a) interest draws on the Class I-A Policy, (b) principal draws on the Class I-A Policy and (c) all other amounts representing such Class I-A Reimbursement Amount; and The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than five (5) Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the distribution made on such Distribution Date information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Holders of Securities Administrator by the Class P Certificates allocable Master Servicer, and the Securities Administrator shall not be obligated to Prepayment Chargesverify, recompute, reconcile or recalculate any such information or data. The Securities Administrator may shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The Securities Administrator will make the foregoing Monthly Statement such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the parties hereto, the Certificateholders and each Rating Agency and the Class I-A Insurer via the Securities Administrator's ’s internet website. The Securities Administrator's ’s internet website shall initially be by located at "www.ctslink.com"xxx.xxxxxxxx.xxx. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's ’s customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may shall have the right to change the way Monthly Statements such statements are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. To the extent timely received from As a condition to access the Securities Administrator’s internet website, the Trustee will also make Securities Administrator may require registration and the related Monthly Statements available to Certificateholders via the Trustee's internet websiteacceptance of a disclaimer. The Trustee's internet website Securities Administrator will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's ’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 6.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the The Securities Administrator shall furnish quarterly to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and on the related Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class class of regular Regular Interests and residual interests Residual Interests created hereunder and the related Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class class of regular Regular Interests or residual interests Residual Interests created hereunder and to the related Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the related Mortgage Loans or the regular interests Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests Regular Interests or bad debt deductions claimed with respect to the related Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "“prohibited transactions," "” “contributions" ” or "“net income from foreclosure property" ” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.12.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SACO I Trust 2005-10)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based in part on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the TrusteeServicer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that, with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxiii) below are not required to be included in such statement during such calendar year:
(i) the amount of the related distribution to Holders of each Class of Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount (if any)Amount, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(iv) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates after giving effect (i) to all distributions allocable to principal on such Distribution Date and Date;
(iiv) the allocation of any Applied Realized Loss Amounts Pool Stated Principal Balance for such Distribution Date;
(ivvi) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date, in the aggregate;
(xixiii) whether a Stepdown Trigger Event has occurred and is in effect;
(xiv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate;
(xiixv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate
(xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the Offered Certificates on such Distribution Date and 115 Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number and amount of prepayment charges received during the related Prepayment Period;
(xviii) as of each Distribution Date, the amount, if any, received pursuant to each Corridor Contract and the amount thereof, if any, to be paid to each Class of Certificates;
(xix) as of each Distribution Date, the amount, if any, to be deposited in the Swap Account within the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xx) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and (iii) the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xxi) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xxii) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxiii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xxiv) the aggregate amount of all Advances recovered during the related Due Period;
(xxv) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date;
(xxvii) the number and outstanding principal balance of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) the amount of Servicing Advances made during the related Due Period and the amount of Servicing Advances recovered during the related Due Period out of (a) principal and interest collections and (b) other amounts collected from the related Mortgagors; 116
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time, of which the Trustee has received written notice thereof from the Servicer;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants to the extent that the Trustee has received written notice thereof;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met;
(xxxiii) the Overcollateralization Amount, the Targeted Overcollateralization Amount and the Overcollateralization Deficiency Amount or the Overcollateralization Release Amount (as applicable) as of such Distribution Date;
(xiiixxxiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of Excess Interest for any class of the preceding monthLIBOR Certificates;
(xivxxxv) Net WAC Rate Carryover the Extra Principal Distribution Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve Fundsuch Distribution Date; and
(xvxxxvi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with pool asset substitutions and repurchases (and purchase rates, if applicable). Notwithstanding the amount of foregoing, such statement shall also include, with respect to each Distribution Date, the distribution made on such related Record Date, Determination Date, Distribution Date to and the Holders of the Class P Certificates allocable to Prepayment Charges. Accrual Period.
(b) The Securities Administrator may Trustee will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and any other interested parties via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchxxx.xxxxxx.xxx/xxx. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. To The foregoing information and reports shall be prepared and determined by the extent timely received from Trustee based on Mortgage Loan data and other information provided to the Securities AdministratorTrustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee will also make shall be entitled to rely conclusively on the related Monthly Statements available accuracy of the information or data provided to Certificateholders via the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b) The Securities Administrator's responsibility for making the above dissemination of information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to in accordance with this Section 6.05 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially 117 comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each Holder of Certificates, the Trustee, the Master Servicer Depositor and the Depositor Credit Risk Manager via its website a statement setting forth the following information for the Certificates:
(i) the Record Date, Accrual Period and Determination Date for each Class of Certificates for each Due Period;
(ii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period;
(iii) with respect to each loan group, the total cash flows received and the general sources thereof;
(iv) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) Extra Principal Distribution Amount the Monthly Excess Interest with respect to the Certificates (if any);
) and (iiD) the amount of such distribution Prepayment Charges distributed to the Class P Certificates;
(v) the amount distributed to Holders of each Class on such Distribution Date allocable to interest;
(iiivi) the Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, if applicable, after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Losses for such Distribution Date;
(ivvii) the aggregate of the Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans for the following Distribution Date;
(v) the related amount of the Master Servicing Fees paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period;
(vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net WAC Rate Cap;
(vii) the amount of Advances included in the distribution distributions on the Distribution Date (including the general purpose of such Advances);
(viii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(viiiix) the aggregate amount of any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.27 of this Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement;
(x) the cumulative amount of Applied Realized Loss Amounts Losses to date and, in addition, if the Certificate Principal Balances Balance of the Subordinate any Class of Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates;
(ixxi) the Overcollateralization Amount and the Senior Enhancement Percentage, any Overcollateralization Deficiency Amount and any Overcollateralization Release Amount for such Distribution Date
(xii) with respect to each loan group, the amount of any Prepayment Charges remitted by the Servicer;
(xiii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(xiv) with respect to each loan group, the number and Scheduled Principal Balance of all the Mortgage Loans for the following Distribution Date;
(xv) the number and aggregate principal amounts balance of any Mortgage Loans that were (A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) using the "OTS" method (1) 31 to 60 daysone scheduled payment is delinquent, (2) 61 to 90 days and two scheduled payments are delinquent, (3) 91 or more daysthree scheduled payments are delinquent and (4) foreclosure proceedings have been commenced, and loss information for the period; the number and aggregate principal balance of any Mortgage Loans in respect of which (A) one scheduled payment is delinquent, (B) in foreclosure and delinquent (1) 31 to 60 daystwo scheduled payments are delinquent, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and three scheduled payments are delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3D) 91 or more daysforeclosure proceedings have been commenced, in each case as of and loss information for the close of business on the last day of the calendar month preceding such Distribution Dateperiod;
(xxvi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and the Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xixvii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date;
(xiixviii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are 60 sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date;
(xiiixix) any material modifications, extensions or waivers to the terms, fees, penalties or payments of any Mortgage Loans during the Due Period or that are material in the aggregate;
(xx) the Realized Losses aggregate Servicing Fee received by the Servicer, and the master servicing fees, if any, received by the Master Servicer during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthDue Period;
(xivxxi) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date;
(xxii) the amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees;
(xxiii) the amount of any Net WAC Rate Carryover Amount for each Class of Certificates and the amount on deposit in the Net WAC Reserve FundFund after all deposits and withdrawals on such Distribution Date;
(xxiv) amounts payable in respect of the Cap Contract;
(xxv) with respect to each loan group, whether the Stepdown Date has occurred and whether Trigger Event is in effect; and
(xvxxvi) any legal proceedings pending against the amount of Sponsor, the distribution made on such Distribution Date Depositor or the Trustee, or their respective property, that is material to the Holders of the Class P Certificates allocable Certificateholders, including proceedings known to Prepayment Chargesbe contemplated by governmental authorities. The Securities Administrator may make the foregoing Monthly Statement monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com"[_________________]. Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at [(301___) 815___-6600____]. Parxxxx xxxx xxx Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To The Securities Administrator shall be entitled to rely on but shall not be responsible for the extent timely received from content or accuracy of any information provided by third parties for purposes of preparing such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095part of any other party hereto).
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company provided by Servicer and the ServicersCap Provider. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.129.13.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the Xxxxx Xxxx, xxx Xxxxicer, the TrusteeNIM Insurer, the Master Servicer Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment charges, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carry Forward Amount for each Class of the Class A, Class R, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by amount of investment income earned on funds on deposit in the Company or the related Servicer Certificate Account for the related Due Period;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificatesaggregate;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event or a Class A Trigger Event has occurred and is in effect;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) with respect to each Class Certificates any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xviii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xiiixix) the Realized Losses number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xivxx) Net WAC Rate Carryover Amount for the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv);
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest";
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Net WAC Reserve Fund; andCap Contract Account pursuant to the Cap Contract as described in Section 4.04(j) and the amount thereof to be paid to the Class A, Class R, Class M and Class B Certificates as described in Section 4.04(j) hereof;
(xvxxiii) the amount of the distribution MI Insurer Fee paid to the MI Insurer;
(xxiv) the number and aggregate Stated Principal Balance of Mortgage Loans covered by the MI Policy as of the end of the related Due Period; and
(A) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to principal, (B) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to interest, and (C) solely to the extent provided by the Servicer, the amount of any claims made on under the MI Policy and the amount of any claims rejected under the MI Policy, each as of such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The Securities Administrator may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.ctslink.com". Axxxxxxxxx xx xxing the website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parxxxx xxxx xxx unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. To the extent timely received from the Securities Administrator, the Trustee will also make the related Monthly Statements available to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095Date.
(b) The Securities Administrator's responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available a copy of each statement provided pursuant to this Section 6.05 to each Rating Agency[RESERVED].
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of Certificatesa Class of Certificates of the Trust Fund, the TrusteeServicer, the Master Servicer NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class allocable to interest, together with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) any Interest Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(ivv) the aggregate of the Pool Stated Principal Balances of all of the Mortgage Loans and of the Mortgage Loans Balance for the following such Distribution Date;
(vvi) the related amount of the Master Servicing Fees Fee paid to or retained by the Master Servicer and the Servicing Fees paid to or retained by the Company or the related Servicer for the related Due PeriodServicer;
(vivii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the Net WAC Rate CapDistribution Date;
(viiviii) the amount of Advances included in the distribution on such Distribution Date;
(viiiix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date anddate, in addition, if the Certificate Principal Balances of aggregate and with respect to the Subordinate Certificates have all been reduced to zero, Mortgage Loans serviced by the cumulative amount of any Realized Losses that have not been allocated to any CertificatesServicer;
(ixx) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xi) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and delinquent Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xxii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date last day of the calendar month preceding such Distribution DateDate and the date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Liquidated Loans as of the last day preceding Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xv) whether a Trigger Event has occurred;
(xvi) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xviii) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of each PMI Insurer's Fee paid to such PMI Insurer;
(xxi) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxii) the amount and purpose of any withdrawal from the Certificate Account pursuant to Section 3.08(a)(v);
(xxiii) the number and aggregate Stated Principal Balance of Mortgage Loans covered by the PMI Policies as of the end of the related Due Period;
(xxiv) the amount of any claims paid by the each PMI Insurer pursuant to the applicable PMI Policy with respect to principal, the amount of any claims paid by each PMI Insurer pursuant to the applicable PMI Policy with respect to interest, the amount of any claims made under the applicable PMI Policy and the amount of any claims rejected under the applicable PMI Policy, each as of such Distribution Date;
(xiiixxv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end amount of the preceding month;
(xiv) Net WAC Rate Carryover Amount for any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount on deposit of any payments to each Class of Certificates that are not treated as payments received in the Net WAC Reserve Fundrespect of a REMIC Regular Interest; and
(xvxxvi) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount of the distribution made on such Distribution Date thereof to be paid to the Holders of Offered Certificates (other than the Class P Certificates allocable to Prepayment ChargesS Certificates) as described in Section 4.04(k) hereof. The Securities Administrator may Trustee will make the foregoing Monthly Statement monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, and other parties to this Agreement via the Securities AdministratorTrustee's internet Internet website. The Securities AdministratorTrustee's internet Internet website shall initially be located at "www.ctslink.comxxx.xxxxxxx.xxx". Axxxxxxxxx xx xxing Assistance in using the website can be obtained by calling the Securities AdministratorTrustee's customer service desk at (301000) 815000-66000000. Parxxxx xxxx xxx Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may Trustee shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties. To the extent timely received from the Securities Administrator, parties and the Trustee will shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also make be entitled to rely on but shall not be responsible for the related Monthly Statements available content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to Certificateholders via access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee's internet website Trustee will initially not be located at "www.jpmorgan.com/abxxxx". Xxxxxxxxxx xx xxing liable for the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (877) 722-1095dissemination of information in accordance with this Agreement.
(b) The Securities Administrator's responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Company and the Servicers. The Securities Administrator will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 6.05 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, based on information provided by the Securities Administrator a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 6.05 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Securities Administrator Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each Class of regular and residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each Class of regular or residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of losses realized with respect to the Mortgage Loans or the regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on "prohibited transactions," "contributions" or "net income from foreclosure property" or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 10.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates Series 2003 He1)
