Common use of Monthly Statements to Certificateholders Clause in Contracts

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distribution: (i) the 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 the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Trust Agreement (GSR 2007-Oa2)

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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 CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicer, the Trustee Master Servicer, the Trustee, the NIMs Insurer, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and Servicer, the Trust Agreement amount of the Securities Administrator Fee paid to or retained by the Securities Administrator and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer, Master Servicer, Securities Administrator or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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 any Subsequent Recoveries for the Class A, Class M, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates on such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans 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 for each Class of Certificates applicable to such Distribution DateGroup Two Mortgage Loans. (b) The Securities Administrator’s responsibility for providing Administrator will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, the Trustee other parties to this Agreement and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide the above statement any other interested parties via the Securities Administrator’s internet 's Internet website. The Securities Administrator's Internet website which can shall initially be located at "xxx.xxxxxxx.xxx. ." Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations 's customer service desk at (000) 000-0000. Parties that are unable to use the 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 shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall 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 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's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also make a paper copy not be liable for the dissemination of the above statement available upon requestinformation in accordance with this Agreement. (c) Upon request, 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 Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect. The . (e) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO and Class 2X-PO ComponentsServicing Fee paid to or retained by the Servicer, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates aggregate and with respect to such Distribution DateGroup One Mortgage Loans and Group Two Mortgage Loans; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day day of the calendar month preceding the such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount with respect to each Class of (A) Payoffs 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 Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Floating Rate Certificate Carryover for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of 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 Cap Contracts as described in Section 4.04(k) and the amount distributed on thereof to be paid to the Class P CertificatesA, Class M and Class B Certificates described in Section 4.04(k) hereof; (xx) the amount and purpose of any Subsequent Recoveries for such Distribution Date;withdrawal from the Collection Account pursuant to Section 3.08(a)(v); and (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the close amount of business on such Distribution Date; and (xxv) the Certificate Rate for any payments to each Class of Certificates applicable to such Distribution Datethat are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest". (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall 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 available upon request-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 access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, 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 Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of Class R Certificate with respect to the following matters: 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; (i) 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; (ii) The Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iii) 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; (iv) 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 the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans; (v) The amount and timing of any non-interest expenses of the REMICs; and (vi) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 CertificateholderHolder of Certificates, the DepositorMaster Servicer, the Trustee Swap Provider and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (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 related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (iv) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap 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; (v) the amount of the related distribution to Holders of each Class factor 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); (vi) the amount of such distribution to Holders of each Class allocable to interest; (vii) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Derivative Administration Agreement; (viii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iiix) the Available Distribution Amount Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the Principal Prepayment Amount for current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the Net Rate Cap; (iiix) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount Certificate Principal Balance or Certificate Notional Amount, as applicable, of Delinquency Advances included in the distribution each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the aggregate amount allocation of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding Applied Realized Loss Amounts for such Distribution Date; (xii) the number and aggregate Scheduled Stated Principal Balances Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerin foreclosure and bankruptcy) (1) 30 days Delinquent, (i2) that are current, 30 days contractually delinquent, 60 days contractually delinquent, Delinquent and (3) 90 days contractually delinquent or 120 days or more contractually Delinquent, (B) in foreclosure and delinquent (each to be calculated using the Mortgage Bankers Association (MBA1) method)30 days Delinquent, (ii2) that have become REO property60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (iii2) as to which foreclosure proceedings have been commenced 60 days Delinquent and (iv3) 90 days or more Delinquent, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date 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; (xiii) 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 to date; (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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) Loans as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance total number and principal balance of the Mortgage Loans any real estate owned or REO Properties as of the Cut-off close of business on the Determination Date preceding such Distribution Date; (xix) the amount distributed 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 in each case as of the close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xx) the amount Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of any Subsequent Recoveries for such Distribution Datethe preceding month; (xxi) whether a Trigger Event exists; (xxii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; (xxiii) the amount of the Prepayment Charges remitted by the Master Servicer and the amount on deposit in the Reserve Fund; (xxiv) updated Mortgage Loan information, such as pool composition data including the following: weighted average interest rate, mortgage rate and weighted average remaining term; (xxiixxv) information regarding any new issuance of securities backed by the aggregate amount same asset pool, any pool asset changes, such as additions or removals of any Mortgage Loan that has been repurchased Loans from the Trust Fund, if applicable; (xxiiixxvi) theany material changes in the solicitation, Senior Prepayment Percentages and credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Subordinate PercentagesTrust Fund; The Depositor covenants that if there is a material change in the solicitation, if anycredit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for such the Trust Fund that it will notify the Trustee five calendar days before each Distribution Date. , and if no such notification occurs, the Trustee has no obligation to report with respect to (xxiv) xxvi). The Depositor covenants to the aggregate shortfallTrustee that there will be no new issuance of securities backed by the same asset pool, if any, allocated to each Class of Certificates at so the close of business on such Distribution Date; and Trustee will only be responsible in (xxv) above for reporting any pool asset changes, such as additions or removals of Mortgage Loans from the Certificate Rate for Trust Fund. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each Class of Certificates applicable month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iiia)(v) and (a)(viia)(vi) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests 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 Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Pc1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by mail to each Certificateholder, the DepositorSellers, the Trustee Servicer, the Depositor and each the Rating Agency Agencies a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionforth: (i) the Class factor for each Class amount of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for distribution made on such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions Date to the Holders of Certificates of each such Class allocable to interest, and the Certificate Rate applicable to each Class principal; (separately identifying (Aii) the amount of such interest accrued during the calendar month preceding the month of distribution made on such Distribution Date, Date to the Holders of Certificates of each such Class allocable to interest and (B) the amount of interest from previous calendar monthsClass A-2 Accrual Amount added to the Certificate Principal Balance of the Class A-2 Certificates; (iii) the aggregate amount of servicing compensation received by the Servicer during the related Due Period and such other customary information which a Certificateholder reasonably requests to enable Certificateholders to prepare their tax returns; (iv) the aggregate amount of Monthly Advances included in such distributions; (v) the 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 of each Class of Certificates, the Component Stated Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Mortgage Loans and Class 2X-PO Components, and any REO Properties at the Component Notional Amount close of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal business on such Distribution Date; (viivi) the number, aggregate Scheduled Principal Balance principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans for as of the following Distribution related Due Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiivii) the number and aggregate Scheduled Principal Balances unpaid principal balance of Mortgage Loans as reported to the Securities Administrator by the applicable Servicer(a) delinquent 30 days, (ib) that are currentdelinquent 60 days, 30 days contractually delinquent, 60 days contractually delinquent, (c) delinquent 90 days contractually delinquent or 120 days or more contractually delinquent days and (each to be calculated using the Mortgage Bankers Association (MBA) method), (ii) that have become REO property, (iiid) as to which foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceedingcommenced; (xiiiviii) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number of such Mortgage Loan, the unpaid principal balance and the Stated Principal Balance of the related such Mortgage Loan as of the date it became an REO Property; (ix) the book value of any REO Property as of the close of business on the last Business Day of the calendar month preceding the Distribution Date; (xivx) the total number and principal balance aggregate amount of any REO Properties (and market value, if available) as of Principal Prepayments made during the close of business on the Determination Date preceding such Distribution Daterelated Prepayment Period; (xvxi) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) Period and incurred since the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance issuance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xxxii) the amount aggregate Certificate Principal Balance or Class Notional Amount, as applicable, of each such Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses made on such Distribution Date, separately identifying any Subsequent Recoveries reduction thereof due to allocations of Realized Losses; (xiii) the Senior Percentage and the Senior Prepayment Percentage for such Distribution Date; (xxixiv) updated Mortgage Loan informationthe Interest Distribution Amount in respect of each such Class of Certificates for such Distribution Date (separately identifying any reductions resulting from the allocation of Realized Losses allocable to interest on such Distribution Date) and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such as weighted average interest rate, and weighted average remaining termCertificates on such Distribution Date; (xxiixv) 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, Interest Shortfalls for such Distribution Date. (xxiv) , to the aggregate shortfall, if any, allocated extent not covered by payments by the Servicer pursuant to each Class of Certificates at the close of business on such Distribution DateSection 3.16; and (xxvxvi) whether any action has been taken to commence or delay foreclosure with respect to any Mortgage Loans, including the number of such Mortgage Loans and their outstanding principal balances. In the case of information furnished pursuant to subclauses (i) - (iv) above, the amounts shall be expressed as a dollar amount per $1,000 of Certificate Rate for each Class Principle Balance of Certificates applicable to such Distribution Datethe relevant Class. (b) The Securities Administrator’s responsibility for providing the above statement to the CertificateholdersUpon reasonable advance notice in writing, each Rating Agencyif required by federal regulation, the Trustee will provide to each Certificateholder that is a savings association, bank or insurance company certain reports and access to information and documentation regarding the Mortgage Loans sufficient to permit such Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Certificates and the Depositor is limited to Servicer shall cooperate with the availabilityTrustee in providing such information; provided, timeliness and accuracy of however, that the information derived from the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator Trustee shall be entitled to rely on information provided be reimbursed by third parties for purposes of preparing the foregoing report, but shall not be responsible each such Certificateholder for the accuracy Trustee's actual expenses incurred in providing such reports and access. The Trustee will provide to any Certificateholder upon request the outstanding Certificate Principal Balance as of such informationdates and, if then known by the Trustee, the outstanding Certificate Principal Balances after giving effect to any distribution to be made on the next following Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mor Pass THR Cert Ser 2000-9)

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 CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicer, the Trustee Trustee, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission on behalf of the Issuing Entity, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loans that become REO Properties during the preceding calendar month, the Scheduled number and aggregate Stated Principal Balance of the related such Mortgage Loan Loans as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiv) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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 the aggregate and for effect; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xx) the amount of any Subsequent Recoveries for 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; (xxixxiv) updated the number of Mortgage Loan informationLoans 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 Due Period as weighted average interest rate, a result of such reductions in the aggregate and weighted average remaining termwith respect to the Group One Mortgage Loans and the Group Two Mortgage Loans; (xxiixxv) 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 with respect to each Class of Certificates at Certificates, the close amount of business 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 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 ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and (xxvxxxii) 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 Certificate Rate for each Class balances of Certificates applicable to such Distribution Dateany prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"xxx.xxxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations desk Trustee at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the Trustee 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 shall be entitled to rely conclusively on the accuracy of the above statement available upon requestinformation or data provided to 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 will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate each 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 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, Series 2006-Fm1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect to such Distribution Date; Mortgage Loans in foreclosure and bankruptcy) (xi1) the amount of Delinquency Advances included 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and the Master Servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Dateclose of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2 Adjustable Rate Mortgage Loans; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan informationNet Swap Payment payable to the Swap Administrator, such as weighted average interest rateany Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and weighted average remaining term; (xxii) any Swap Termination Payment payable to 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 DateSwap Provider; and (xxvxvii) the Certificate Rate for each Class amount of Certificates applicable to the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc2)

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 www.ctslink.com to each CertificateholderHolder of a Class of Certificates of the Trust Xxxx, xxx Xxxxicer, the DepositorMaster Servicer, the Trustee Trustee, the NIMs Insurer, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and the Trust Agreement Servicer and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer, Master Servicer, Securities Administrator or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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 any Subsequent Recoveries for the Offered Certificates and Class B-1, Class B-2 and Class B-3 Certificates on such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans 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 for each Class of Certificates applicable to such Distribution DateGroup Two Mortgage Loans. (b) The Securities Administrator’s responsibility for providing Administrator will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, the Trustee other parties to this Agreement and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide the above statement any other interested parties via the Securities Administrator’s internet 's Internet website. The Securities Administrator's Internet website which can shall initially be located at xxx.xxxxxxx.xxx. "www.ctslink.com." Assistance in using the website can be obtained by cxxxxxx xxx Xxxxrities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are 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 shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall 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 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’s investor relations desk at (000) 000-0000's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also make a paper copy not be liable for the dissemination of the above statement available upon requestinformation in accordance with this Agreement. (c) Upon request, 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 Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect. The . (e) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate and the Class R-X Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Class R Certificate or a Class R-X 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2005-3)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the based on information provided by the Servicers 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 a Class of Certificates of the Issuing Entity, the Servicer, the Trustee, the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates aggregate and with respect to such Distribution DateGroup One Mortgage Loans and Group Two Mortgage Loans; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days, (3) 91 to 120 days, (4) 121 to 150 days, (5) 151 to 180 days and the aggregate amount of Delinquency Advances reported by the Servicers (6) 181 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days, (3) 91 to 120 days, (4) 121 to 150 days, (5) 151 to 180 days and any other successor master servicer(6) 181 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day day of the calendar month preceding the such Distribution Date, in the aggregate and with respect to Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount with respect to each Class of (A) Payoffs 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 Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Floating Rate Certificate Carryover for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of 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 distributed on thereof to be paid to the Class P CertificatesOffered Certificates described in Section 4.04(k) hereof; (xx) the amount and purpose of any Subsequent Recoveries for such Distribution Datewithdrawal from the Collection Account pursuant to Section 3.08(a)(v); (xxi) updated Mortgage Loan information, such the amount of any payments to each Class of Certificates that are treated as weighted average interest rate, payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and weighted average remaining termthe 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 any Mortgage Loan that has been repurchased from all Advances recovered during the Trust Fundrelated Due Period; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.allocation to each Class of Certificate of any Realized Losses during the related Due Period; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at Certificates, the close amount of business any Non-Supported Interest Shortfalls on such Distribution Date; and; (xxv) the Certificate Rate number and amount of pool assets at the beginning and ending of each period, and updated pool composition information; (xxvi) any material changes to methodology regarding calculations of 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 general source of funds for each Class 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 Certificates applicable to pool asset representations or warranties or transaction covenants; (xxx) 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 (xxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such Distribution Dateas 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 balances of any prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at "xxx.xxxxxxx.xxx. ." Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall 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 available upon requestand 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 Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, [Reserved]. (d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balance of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 Date in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxxfirst lien Mortgage Loans, (B2) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedssecond lien Mortgage Loans, and (C3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xiv) the Realized Losses incurred during the related Prepayment PeriodPeriod and the cumulative Realized Losses through the end of the preceding month; (xv) whether a Trigger Event exists; (xvi) whether a Group II Sequential Trigger Event exists; (xvii) the Prepayment Premiums collected by or paid by amount of any Net Swap Payment payable to the Servicers;Swap Administrator, any Net Swap 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 (xviii) the percentage equal amount of the distribution made on such Distribution Date to the aggregate realized losses divided by the aggregate Scheduled Principal Balance Holders of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; Certificates allocable to Prepayment Charges. The Trustee may make the foregoing Monthly Statement (xxand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the amount of any Subsequent Recoveries for Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Aq1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorMaster Servicer, the Trustee Swap Provider, the Credit Risk Manager and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 Offered Certificates allocable to interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect to such Distribution Date; Mortgage Loans in foreclosure and bankruptcy) (xi1) the amount of Delinquency Advances included 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and the Master Servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Dateclose of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2 Adjustable Rate Mortgage Loans; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan informationNet Swap Payment payable to the Swap Administrator, such as weighted average interest rateany Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and weighted average remaining term; (xxii) any Swap Termination Payment payable to 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 DateSwap Provider; and (xxvxvii) the Certificate Rate for each amount of the distribution made on such Distribution Date to the Holders of the Class of P Certificates applicable allocable to Prepayment Charges; and (xviii) 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 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 Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests 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 Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He10)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, Date based in part, upon the part on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, 115 the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution 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 amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the amount of the Servicing Fee paid to or retained by the Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Dateaggregate; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the distribution on such Distribution Date aggregate and with respect to the aggregate amount of Delinquency Advances reported by Group One Mortgage Loans and Group Two Mortgage Loans; (xii) with respect to any Mortgage Loan that became an REO Property during the Servicers (and the Master Servicerpreceding calendar month, the Trustee as successor master servicer loan number and any other successor master servicer, if applicable) as outstanding Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) , in 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 proceedingaggregate; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed whether a Stepdown Trigger Event has occurred and is in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date;effect; 116 (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate; (xv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate aggregate (xvi) any Floating Rate Certificate Carryover paid and for all Floating Rate Certificate Carryover remaining on each Class of Certificates, the aggregate amount Offered Certificates on such Distribution Date and Stated Principal Balance (as of Realized Losses incurred the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding calendar month Due Period and aggregate Realized Losses through such Distribution since the Cut-off Date; (xvixvii) the aggregate number and amount of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred prepayment charges received during the related Prepayment Period; (xviixviii) as of each Distribution Date, the Prepayment Premiums collected by or amount, if any, received pursuant to each Corridor Contract and the amount thereof, if any, to be paid by the Servicersto each Class of Certificates; (xviiixix) 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 percentage equal 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 aggregate realized losses divided by 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 Scheduled Principal Balance of and with respect to the Group One Mortgage Loans as 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; (xixxxii) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(iv); (xxxxiii) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such payments to each Class of Certificates that are treated as weighted average interest rate, payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan payments to each Class of Certificates that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Dateare not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest". (xxiv) the aggregate shortfall, if any, allocated amount of all Advances recovered during the related Due Period; (xxv) the allocation to each Class of Certificates 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 close beginning and ending of business 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; (xxxiv) the amount of Excess Interest for any class of the LIBOR Certificates; (xxxv) the Extra Principal Distribution Amount for such Distribution Date; and (xxvxxxvi) 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 Certificate Rate for foregoing, such statement shall also include, with respect to each Class of Certificates applicable to such Distribution Date, the related Record Date, Determination Date, Distribution Date and the Accrual Period. (b) The Securities Administrator’s responsibility for providing Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, other parties to this Agreement and any other interested parties via the Trustee's Internet website. The Trustee's Internet website shall initially be located at xxx.xxxxxx.xxx/xxx. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the CertificateholdersTrustee by the Servicer, each Rating AgencySwap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee and shall be entitled to rely conclusively on the Depositor is limited to the availability, timeliness and accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Servicers Swap Counterparty or any other third party required to deliver information and the SellersTrustee 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 Securities Administrator shall provide Trustee will not be liable for the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxxdissemination of information in accordance with this Agreement. 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 a paper copy of the above statement available upon request.118 (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holder of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust, Series 2007-Bc2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Certificate Administrator shall prepare and make available on its website located at xxx.xxxxxxxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the Trustee, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and Servicer, the Trust Agreement amount of the Certificate Administrator Fee paid to or retained by the Certificate Administrator and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer, Certificate Administrator or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate; (ix) the amount of (A) Realized Losses and fees paid to or retained by the Servicers and paid to or retained by the Trustee (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Dateaggregate; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, (C) in bankruptcy and (D) that are REO Properties, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date, in the aggregate; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate; (xiv) whether a Stepdown Trigger Event has occurred and is in effect; (xv) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of preceding Due Period and since the Cut-off Date; (xixxvii) 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 distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xxxix) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the close amount of business on such Distribution Dateany payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest"; and (xxvxx) the Certificate Rate for as of each Class of Certificates applicable to such 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(k) and the amount thereof to be paid to the Offered Certificates and the Class M-10 Certificates described in Section 4.04(k) hereof. (b) The Securities Administrator’s responsibility for providing Certificate Administrator will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersCertificate Administrator's Internet website. The Securities Administrator Certificate Administrator's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"xxx.xxxxxxxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Certificate Administrator’s investor relations 's customer service desk at (0-000) -000-0000. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Certificate Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Certificate Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Certificate Administrator shall 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 available upon requestand 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 Certificate Administrator's internet website, the Certificate Administrator may require registration and the acceptance of a disclaimer. The Certificate Administrator will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Certificate Administrator. (d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Certificate Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Certificate Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Certificate Administrator pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Certificate Administrator shall furnish to the Holder of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q, upon written request, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2005-Wmc1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balances of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution DateMortgage Loans, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans, (vC) the 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; second lien Mortgage Loans, (viD) the Class Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Adjustable Rate Mortgage Loans and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution Date; (viiE) the aggregate Scheduled Principal Balance of the Fixed Rate Mortgage Loans Loans, for the following Distribution Date; (viiivi) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate 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 such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Datelast day of such Distribution Date 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; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (xxv312) 904-7992. Parxxxx xxxx xxx unable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He6)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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, 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance all of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for the Class A Certificates, each Class of Class M Certificates and paid to or retained by the Trustee 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, and (B) in foreclosure and Delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the Mortgage Loans; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Date; (xix) the amount distributed close of business on the Class P Certificates; (xx) last day of the amount of any Subsequent Recoveries for calendar month preceding such Distribution Date; (xxixiv) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixv) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages distribution made on such Distribution Date to Holders of each Class allocable to interest and the Subordinate Percentagesportion thereof, if any, for such Distribution Date.provided by the Cap Contracts; (xxivxvi) the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution Datewhether a Trigger Event exists; and (xxvxvii) the Certificate Rate for each Class amount of Certificates applicable to the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges; and The 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 Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same; (v) The treatment of Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

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 make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 May 2004 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfallNet WAC Rate; (xxv) the Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(viii), if any, allocated to each Class and the balance of Certificates at the close of business Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and (xxvxxviii) the Certificate amount on deposit in the Interest Rate for each Class Cap Account (including a breakdown of Certificates applicable to amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date. (b) ). The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CFSB Mor Sec Corp Home Equity Asset Trust 2004-1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer, the Securities Administrator shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicer, the Trustee Master Servicer, the Trustee, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2Securities Administrator Fee and the Servicing Fee paid to or retained by the Securities Administrator and the Servicer, Class 2A-2, Class 1X-PO and Class 2X-PO Componentsrespectively, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer, Master Servicer, Securities Administrator or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid (A) Realized Losses and (B) Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for each such Class amount of Certificates (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date; (xiv) whether a Trigger Event has occurred; (xv) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount with respect to each Class of (A) Payoffs 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 Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Floating Rate Certificate Carryover for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on the Class P Certificates[RESERVED]; (xx) the amount and purpose of any Subsequent Recoveries for such Distribution Date;withdrawal from the Collection Account pursuant to Section 3.08(a)(v); and (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the close amount of business on such Distribution Date; and (xxv) the Certificate Rate for any payments to each Class of Certificates applicable to such Distribution Datethat are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest". (b) The Securities Administrator’s responsibility for providing Administrator will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, the Trustee other parties to this Agreement and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide the above statement any other interested parties via the Securities Administrator’s internet 's Internet website. The Securities Administrator's Internet website which can shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000301) 000815-00006600. Parties that are unable to use the 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 shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall 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 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's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also make a paper copy not be liable for the dissemination of the above statement available upon requestinformation in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect. The . (d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of Class R Certificate with respect to the following matters: 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; (i) 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; (ii) The Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iii) 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; (iv) 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 the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans; (v) The amount and timing of any non-interest expenses of the REMICs; and (vi) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors, Inc. Series 2004-FFC)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balances of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Datelast day of such Distribution Date 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; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Axxxxxxxxx xx xxxng the website can be obtained by calling the Trustee's customer service desk at (xxv312) 904-6709. Partxxx xxxx xxx xnable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset-Backed Certificates Series 2004-He3)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) with respect to each loan group, the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the Monthly Excess Interest with respect to the Certificates (if any) and (D) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the aggregate realized losses divided by percent equivalent of a fraction, the aggregate Scheduled Principal numerator of which is the Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer, and the master servicing fees, if any, received by the Master Servicer during the related Due Period; (xx) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan informationthe amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such as weighted average interest rate, and weighted average remaining termfees; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from Basis Risk Shortfalls and the Trust Fundamount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxiii) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, for such Distribution Date.Cap Contracts; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at loan group, whether the close of business on such Distribution DateStepdown Date has occurred and whether any Trigger Event is in effect; and (xxv) any legal proceedings pending against the Certificate Rate for each Class of Certificates applicable Sponsor, the Depositor or the Trustee, or their respective property, that is material to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited including proceedings known to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersbe contemplated by governmental authorities. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx“wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, each Servicer, the Depositor, the Trustee Credit Risk Manager, the Swap Counterparty and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 November 2005 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution Date; andNet WAC Rate; (xxv) the Certificate Rate for each Class Senior Enhancement Percentage; (xxvi) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(xii), and the balance of Certificates applicable to the Basis Risk Reserve Fund after all distributions have been made on such Distribution Date.; (bxxvii) the amount deposited to the Supplemental Interest Account on such Distribution Date (including a breakdown of amounts withdrawn in connection with such Distribution Date); (xxviii) reserved; (xxix) reserved; and (xxx) with respect to all of the Mortgage Loans, in the aggregate, and, unless otherwise stated, the related Distribution Date, for each Servicer that is servicing any of such Mortgage Loans, the aggregate Stated Principal Balance of Mortgage Loans being serviced by such Servicer as of such Distribution Date. The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Home Equity Asset Trust 2005-6)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorMaster Servicer, the Trustee Seller and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein and (B) the aggregate of all scheduled payments of principal included therein; (ii) the Available 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 of each Class after giving effect to (i) all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Stated Principal Balance of the Mortgage Loans for the following Distribution DateMortgage Pool; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) the Pass-Through Rate for each Class of Certificates with respect to such the current Accrual Period; (viii) with respect to the May 2002 Distribution Date, the Seller Shortfall Interest Requirement (if any) for the related Master Servicer Advance Date; (ix) if any, the amount of any Administrative Fees paid to Advances included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Additional Required Interest Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and Additional Interest Advance Reimbursement Amounts paid to the Master Servicer, Servicer during the Trustee as successor master servicer and any other successor master servicer, if applicablerelated Due Period; (xi) as outstanding as the cumulative amount of the close of business on the Determination Date immediately preceding such Distribution DateApplied Realized Loss Amounts to date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans: (A) Delinquent (exclusive of Mortgage Loans as reported in foreclosure) (1) 30 to the Securities Administrator by the applicable Servicer59 days, (i2) that are current, 30 60 to 89 days contractually delinquent, 60 days contractually delinquent, and (3) 90 days contractually delinquent or 120 days or more contractually delinquent days, and (each B) in foreclosure and Delinquent (1) 30 to be calculated using the Mortgage Bankers Association (MBA) method)59 days, (ii2) that have become REO property, (iii) as 60 to which foreclosure proceedings have been commenced 89 days and (iv3) 90 or more days, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution DateLoan; (xiv) and the total number and principal balance aggregate Stated Principal Balances of any Mortgage Loans converted to REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class Stated Principal Balances of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Dateall Liquidated Loans; (xvi) with respect to any Liquidated Loan, the aggregate amount of (A) Payoffs loan number and Stated Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment PeriodBalance relating thereto; (xvii) the Prepayment Premiums collected by or paid by the Servicerswhether a Trigger Event has occurred; (xviii) any Net Rate Carryover paid on each Class of Certificates (other than the percentage equal to Class A-IO Certificates) and any remaining Net Rate Carryover remaining on each Class of Certificates (other than the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the CutClass A-off IO Certificates) on such Distribution Date; (xix) the amount distributed on of any Enhancement Payments made with respect to such Distribution Date and the Class P Certificates;amount remaining under the Seller Loss Coverage Obligation; and (xx) to the extent that the Trustee receives such information from the Co-Trustee, the amount of any Subsequent Recoveries for proceeds received under the Loan Insurance Policy included in such Distribution Date; (xxi) updated Mortgage Loan informationdistribution and, to the extent that the Trustee receives such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased information from the Trust Fund; (xxiii) theMaster Servicer, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date. (xxiv) remaining amount available under 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 for each Class of Certificates applicable to such Distribution DateLoan Insurance Policy. (b) The Securities Administrator’s Trustee's responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide Trustee will send a copy of each statement provided pursuant to this Section 4.05 to each Rating Agency. The Trustee may make the above statement information available to Certificateholders via the Securities Administrator’s internet Trustee's 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 a paper copy of the above statement available upon requesthttp://www.mbsreporting.com. (cx) Upon request, within a reasonable Xxxxxx x xxxxxxxble period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(vi) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class A-R Certificates the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwabs Inc)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the DepositorServicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 September 2004 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfall, if any, allocated to each Class of Certificates at Net WAC Rate; (xxv) the close of business Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund 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; (xxviii) the amount on deposit in the Interest Rate Cap Account (including a breakdown of amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date); (xxix) a list indicating those Designated Mortgage Loans as to which the WFBNA Servicing Transfer Date has occurred since the previous Distribution Date; and (xxvxxx) any remaining Designated Mortgage Loan for which the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) WFBNA Servicing Transfer Date has not occurred. The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Servicer and the Master Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of Trustee may fully rely upon and shall have no liability with respect to information provided by the above statement available upon requestServicer and the Master Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

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 make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available amount of such distribution to Holders of each Class allocable to interest, together with any Compensating Interest Shortfalls with respect to each Class; (iii) the Certificate Principal Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and the Trust Agreement Servicer and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Date;the Group One Mortgage Loans and Group Two Mortgage Loans; 115 (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all loans that become Liquidated Loans as of such Distribution Date calculated as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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-2 Certificates, the 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 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; (xxii) any Subsequent Recoveries for 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; (xxixxiii) updated Mortgage Loan informationinformation regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as weighted average interest rate, additions or removals in connection with pool asset substitutions and weighted average remaining term; repurchases (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentagespurchase rates, if any, for such Distribution Date.applicable); (xxiv) 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 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 shortfall, if any, allocated and with respect to each Class of Certificates at the close of business on such Distribution DateGroup One Mortgage Loans and the Group Two Mortgage Loans; and (xxv) the Certificate Rate for aggregate outstanding principal balance of each Class class of Certificates applicable to such for the following Distribution Date. (b) The Securities Administrator’s responsibility for providing Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, other parties to this Agreement and any other interested parties via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxxx.xxx." Parties that are unable to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data provided to the CertificateholdersTrustee by the Servicer and information received by the Trustee from third parties, each Rating Agencyincluding the Swap Counterparty. In preparing or furnishing the foregoing information, the Trustee and shall be entitled to rely conclusively on the Depositor is limited to the availability, timeliness and accuracy of the information derived from or data provided to the Master ServicerTrustee by the Servicer or any other party 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 Servicers Trustee may require registration and the Sellersacceptance of a disclaimer. The Securities Administrator shall provide Trustee will not be liable for the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance dissemination of information 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 a paper copy of the above statement available upon requestaccordance with this Agreement. (c) Upon request, 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 Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.117

Appears in 1 contract

Samples: Pooling and Servicing Agreement (OwnIt Mortgage Loan Trust Mortgage Loan Asset-Backed Certificates, Series 2006-7)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, Date based in part, upon the part on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxii) below are not required to be included in such statement during such calendar year: (i) the Class factor for amount of the related distribution to Holders of each Class of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution 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 amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the amount of the Servicing Fee paid to or retained by the Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount weighted average life for each Class of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to Certificates for such Distribution Date; (ix) if any, the amount weighted average coupon for each Class of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to Certificates for such Distribution Date; (x) the Pass-Through Rate for each such Class amount of Certificates with respect to Advances included in the distribution on such Distribution Date; (xi) the cumulative amount of Delinquency Advances included (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the distribution on aggregate; (xii) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date Date, in the aggregate; (xiii) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate amount of Delinquency Advances reported by and with respect to the Servicers Group One Mortgage Loans and Group Two Mortgage Loans; (and xiv) with respect to any Mortgage Loan that became an REO Property during the Master Servicerpreceding calendar month, the Trustee as successor master servicer loan number and any other successor master servicer, if applicable) as outstanding Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date immediately preceding such Distribution Dateand the date of acquisition thereof, in the aggregate; (xiixv) the number whether a Stepdown Trigger Event has occurred 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 proceedingin effect; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xivxvi) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the related Determination Date preceding such Distribution Date; (xv) , in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Periodaggregate; (xvii) the Prepayment Premiums collected by or paid by aggregate Stated Principal Balance of all Liquidated Loans as of the Servicers;preceding Distribution Date, in the aggregate (xviii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Offered Certificates on such Distribution Date and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans as of which were purchased or repurchased during the preceding Due Period and since the Cut-off Date; (xix) the number and amount distributed on of prepayment charges and the Class P Certificatesamount of late payment fees received during the related Prepayment Period in the aggregate; (xx) 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; (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 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 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 Subsequent Recoveries for 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; (xxixxviii) updated Mortgage Loan information, such as weighted average interest rate, the number and weighted average remaining termoutstanding principal balance of pool assets at the beginning and ending of each period; (xxiixxix) the aggregate amount any material changes to methodology regarding calculations of any Mortgage Loan that has been repurchased from the Trust Funddelinquencies and charge-offs; (xxiiixxx) theany material modifications, Senior Prepayment Percentages and extensions or waivers to pool asset terms, fees, penalties or payments during the Subordinate Percentagesdistribution period or that have cumulatively become material over time, if any, for such Distribution Date.of which the Trustee has received written notice thereof from the Servicer; (xxivxxxi) material breaches of pool asset representations or warranties or transaction covenants to the aggregate shortfall, if any, allocated to each Class of Certificates at extent that the close of business on such Distribution DateTrustee has received written notice thereof; and (xxvxxxii) 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 Certificate Rate for balances of any prefunding or revolving accounts, if applicable. Notwithstanding the foregoing, such statement shall also include, with respect to each Class of Certificates applicable to such Distribution Date, the related Record Date, Determination Date, Distribution Date and the Accrual Period. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request.[Reserved] (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holder of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicer, the Trustee Trustee, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

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 shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor for 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, (C) 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 Available Distribution Amount and the Principal Prepayment Amount for amount of such Distribution Datedistribution to Holders of each Class allocable to interest; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (viiiv) the aggregate Scheduled 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; (viiiv) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Servicer for the Trustee related Due Period; (vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period; (vii) the cumulative amount of Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (viii) 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; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvx) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixi) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) numerator of which is the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixii) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixiii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust FundBasis Risk Shortfalls; (xxiiixiv) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, Cap Contracts; and (xv) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp. Series 2005-Ar5)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Insurer, the Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable record dates, accrual periods, determination dates for each Class of Certificatescalculation distributions and general distribution dates; (ii) the Available 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); (v) the amount of any distribution to Holders of each Class allocable to interest; (vi) 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 Notional Amount of each related Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts with respect to such Loan Group, for such Distribution Date; (iiix) the amount thereof allocable with respect to principaleach Loan Group, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of all of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the related Mortgage Loans for the following Distribution Date; (viiixi) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to Company or retained by the Trustee related Servicer for the related Due Period; (xii) with respect to such Distribution Date; (ix) if anyeach Loan Group, 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 Interest Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the related Interest Rate Cap; (xixiii) with respect to each Loan Group, the amount of Delinquency Advances included in the distribution on such Distribution Date and Date; (xiv) with respect to each Loan Group, the aggregate cumulative amount of Delinquency Advances reported by the Servicers Applied Realized Loss Amounts to date; (and the Master Servicerxv) with respect to each Loan Group, the Trustee as successor master servicer number and any other successor master serviceraggregate principal amounts of Mortgage Loans (A) (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 or more days Delinquent, (B) in foreclosure and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 or more days Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 or more days Delinquent, in each case as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) with respect to each Loan Group and any Mortgage Loan that was liquidated during the aggregate amount of (A) Payoffs preceding calendar month, the loan number and Stated Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance ProceedsBalance of, and (C) Realized Losses incurred during Loss on, such Mortgage Loan as of the end of the related Prepayment Period; (xvii) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the end of the related Prepayment Premiums collected by or paid by the ServicersPeriod; (xviii) with respect to each Loan Group, the percentage equal to three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by 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 Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off last day of the calendar month preceding such Distribution Date; (xix) with respect to each Loan Group, the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xx) with respect to Loan Group I, the Net WAC Rate Carryover Amount for each Class of Certificates and the amount of any Subsequent Recoveries for such Distribution Dateon deposit in the Net WAC Reserve Fund; (xxi) updated Mortgage Loan informationthe amount of the distribution made on such Distribution Date to the Holders of the Class I-P, such as weighted average interest rate, Class II-1P and weighted average remaining term;Class II-2P Certificates allocable to related Prepayment Charges. (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund;Insurer Premium Amount; and (xxiii) thethe Reimbursement Amount, Senior Prepayment Percentages indicating the amount related to (a) interest draws on the Policy, (b) principal draws on the Policy and (c) all other amounts representing such 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 Subordinate Percentages, if any, for Insurer via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. 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 may change the way Monthly Statements are distributed in order to make such Distribution Date. (xxiv) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 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. The . (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 related Regular Interests and 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 related class of Regular Interests and 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 related class of Regular Interests or 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 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 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, the Trustee Credit Risk Manager and each Rating Agency the PMI Insurer via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates and (D) the Extra Principal Distribution Amount; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 the Servicing Agreement or the Master Servicer pursuant to Section 4.14 of this Agreement; (x) the cumulative amount of Realized Losses for the Mortgage Loans to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by scheduled principal balance of the aggregate Scheduled Principal Balance Mortgage Loans that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the scheduled principal balances of all of the Mortgage Loans as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer and the Master Servicing Fees received by the Master Servicer during the related Due Period; (xx) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan informationthe amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such as weighted average interest rate, and weighted average remaining termfees; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from Net WAC Rate Carryover Amounts and the Trust Fundamount in the Net WAC Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxiii) the, Senior Prepayment Percentages whether the Stepdown Date has occurred and the Subordinate Percentages, if any, for such Distribution Date.whether any Trigger Event is in effect; (xxiv) the aggregate shortfall, if any, allocated amount of payments received from the Servicer related to claims under the PMI Policy during the related Prepayment Period (based solely on information provided by the Servicer); (xxv) (A) the dollar amount of claims made under each Class PMI Policy that were denied (as identified by the Servicer) during the Prepayment Period (and the number of Certificates at Mortgage Loans to which such denials related) and (B) the close dollar amount of business the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related) (based solely on information provided by the Servicer); (xxvi) the PMI Threshold Percentage for such Distribution Date; and (xxvxxvii) the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited to the availability, timeliness and accuracy amounts payable in respect of the information derived from the Master Servicer, the Servicers and the SellersCap Contract. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx“wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative 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 CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balance of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Datelast day of such Distribution Date 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; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (xxv000) 000-0000. Parties that are unable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He11)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, the Trustee Servicer and each Rating Agency the Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) with respect to each Loan Group, the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the Monthly Excess Interest with respect to the Certificates (if any) and (D) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans in foreclosure) using the “OTS” method (not including Liquidated Mortgage Loans as reported to of the Securities Administrator by end of the applicable Servicerrelated Prepayment Period) (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the aggregate realized losses divided by percent equivalent of a fraction, the aggregate Scheduled Principal numerator of which is the Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off Datelast day of the related Due Period; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer, 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 Subsequent Recoveries for Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) amounts payable in respect of the aggregate amount of any Mortgage Loan that has been repurchased from the Trust FundBasis Risk Cap Agreement; (xxiii) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, for such Distribution Date.Swap Agreement; (xxiv) amounts payable in respect of the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution DateInterest Rate Cap Agreement; and (xxv) whether the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Stepdown Date has occurred and the Depositor whether any Trigger Event is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersin effect. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer, the Basis Risk Cap Provider, the Swap Provider and the Interest Rate Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Fm2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorMaster Servicer, the Trustee Swap Provider and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (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 related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (iv) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap 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; (v) the amount of the related distribution to Holders of each Class factor 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); (vi) the amount of such distribution to Holders of each Class allocable to interest; (vii) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Derivative Administration Agreement; (viii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iiix) the Available Distribution Amount Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the Principal Prepayment Amount for current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the Net Rate Cap; (iiix) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount Certificate Principal Balance or Certificate Notional Amount, as applicable, of Delinquency Advances included in the distribution each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the aggregate amount allocation of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding Applied Realized Loss Amounts for such Distribution Date; (xii) the number and aggregate Scheduled Stated Principal Balances Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerin foreclosure and bankruptcy) (1) 30 days Delinquent, (i2) that are current, 30 days contractually delinquent, 60 days contractually delinquent, Delinquent and (3) 90 days contractually delinquent or 120 days or more contractually Delinquent, (B) in foreclosure and delinquent (each to be calculated using the Mortgage Bankers Association (MBA1) method)30 days Delinquent, (ii2) that have become REO property60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (iii2) as to which foreclosure proceedings have been commenced 60 days Delinquent and (iv3) 90 days or more Delinquent, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date 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; (xiii) the amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow; (xiv) 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; (xv) the cumulative amount of Applied Realized Loss Amounts to date; (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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) Loans as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance total number and principal balance of the Mortgage Loans any real estate owned or REO Properties as of the Cut-off close of business on the Determination Date preceding such Distribution Date; (xix) the amount distributed 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 in each case as of the close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xx) the amount Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of any Subsequent Recoveries for such Distribution Datethe preceding month; (xxi) whether a Trigger Event exists; (xxii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; (xxiii) the amount of the Prepayment Charges remitted by the Master Servicer and the amount on deposit in the Reserve Fund; (xxiv) updated Mortgage Loan information, such as pool composition data including the following: weighted average interest mortgage rate, and weighted average remaining term; (xxiixxv) information regarding any new issuance of securities backed by the aggregate amount same asset pool, any pool asset changes, such as additions or removals of any Mortgage Loan that has been repurchased Loans 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 Dateapplicable; and (xxvxxvi) any material changes in the Certificate Rate 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 Trustee five calendar days before each Class of Certificates applicable to such Distribution Date, and if no such notification occurs, the Trustee has no obligation to report with respect to (xxvii). The Depositor covenants to the Trustee that there will be no new issuance of securities backed by the same asset pool, so the Trustee will only be responsible in (xxvi) above for reporting any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund. The 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 Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC Trust 2006-Ec1)

Monthly Statements to Certificateholders. (a) Not later than one Business Day prior to each Distribution Date, the Master Servicer shall prepare and make available to the Trustee and not later than each Distribution Date, the Securities Administrator Master Servicer shall make available to each Certificateholder, the DepositorDepositor and any other interested parties a statement, the Trustee and each Rating Agency a statement based, in part, upon the based solely on information provided by the Servicers each Servicer, setting forth the following information with respect to the related distribution:distribution (in the case of information furnished pursuant to (i), (ii) and (vii) below, the amounts shall be expressed as a dollar amount per minimum denomination Certificate, such minimum denominations being as set forth in the Preliminary Statement): (i) the 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 the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (ivii) the amount of distributions thereof allocable to interest, any unpaid interest from prior Distribution Dates included in such distribution and any remaining unpaid interest after giving effect to such distribution; (iii) if the distribution to the Holders of such Class of Certificates of each Class allocable is less than the full amount that would be distributable to interestsuch Holders if there were sufficient funds available therefor, and the Certificate Rate applicable to each Class (separately identifying (A) the amount of such interest accrued during the calendar month preceding shortfall and the month of such Distribution Date, allocation thereof as between principal and (B) the amount of interest from previous calendar monthsinterest; (viv) the aggregate Certificate Principal Balance as a dollar amount of the Servicing Fees paid as required under the Servicing Agreements per minimum denomination Certificate 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 Notional Amount 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 to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Pool Principal Balance of the Mortgage Loans for the following on such Distribution Date; (viiivi) the Senior Percentage and Junior Percentage; (vii) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on such Distribution Date; (x) the Determination Date immediately aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days, (2) 31 to 60 days, (3) 61 to 90 days, and (4) 91 or more days and (B) in foreclosure and delinquent (1) 1 to 30 days, (2) 31 to 60 days, (3) 61 to 90 days, and (4) 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; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xivxi) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last Business Day of the calendar month preceding such Distribution Date; (xvxii) in the aggregate and for each Class of Certificates, Senior Prepayment Percentage; (xiii) the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 Datemonth; and (xxvxiv) the Certificate Rate for Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each Class case as of Certificates applicable to such Distribution the related Determination Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital Inc Trust 2002-Wl1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany 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 Available 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 Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount aggregate of distributions to the Holders Stated Principal Balances of Certificates all of the Mortgage Loans and of the Mortgage Loans in each Class allocable to interest, and Loan Group for 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 following Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate related amount of the Servicing Fees paid as required under to or retained by the Master Servicer and the Servicing Agreements and Fees paid to or retained by any subservicer for the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunderrelated Due Period; (vi) the Class Principal Balance of Pass-Through Rate for 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 Offered Certificates with respect to the distribution of principal on current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by any interest rate cap; (vii) the aggregate Scheduled Principal Balance any Interest Carry Forward Amount for each Class of the Mortgage Loans for the following Distribution DateOffered Certificates; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts; (ix) if any, the amount of any Administrative Fees paid to Advances for each Loan Group included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate for each such cumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Class M-1 Certificates, Class M-2 Certificates and Class B Certificates have all been reduced to zero, the cumulative amount of Certificates with respect any Realized Losses that have not been allocated to such Distribution Dateany Certificates; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans in the distribution on each Loan Group for each such Distribution Date Loan Group and the aggregate amount mortgage pool (A) Delinquent (exclusive of Delinquency Advances reported by the Servicers Mortgage Loans in foreclosure and bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days, the Trustee as successor master servicer (B) in foreclosure and any other successor master servicerdelinquent (1) 31 to 60 days, if applicable(2) as outstanding 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 Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar monthmonth in each Loan Group and the mortgage pool, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxiii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group as of the aggregate and for each Class close of Certificates, business on the aggregate amount of Realized Losses incurred during the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixv) the aggregate amount of any Mortgage Realized Losses for each Loan that has been repurchased from Group during the Trust Fund; (xxiii) the, Senior related Prepayment Percentages Period and the Subordinate Percentages, if any, cumulative Realized Losses for such Distribution Date. (xxiv) each Loan Group and the aggregate shortfall, if any, allocated to each Class mortgage pool through the end of Certificates at the close of business on such Distribution Datepreceding month; and (xxvxvi) whether a Trigger Event exists. The Securities Administrator may make the Certificate Rate for foregoing monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each Class of Certificates applicable month to Certificateholders via the Securities Administrator's internet website. The 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 are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s 's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Servicer and the Sellers. 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) 000-0000Trustee. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

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 Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balance of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect to such Distribution Date; Mortgage Loans in foreclosure and bankruptcy) (xi1) the amount of Delinquency Advances included 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and the Master Servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 Date and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxxfirst lien Mortgage Loans, (B2) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedssecond lien Mortgage Loans, and (C3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xiv) the Realized Losses incurred during the related Prepayment PeriodPeriod and the cumulative Realized Losses through the end of the preceding month; (xv) whether a Trigger Event exists; (xvi) whether a Group II Sequential Trigger Event exists; (xvii) the Prepayment Premiums collected by or paid by amount of any Net Swap Payment payable to the Servicers;Swap Administrator, any Net Swap 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 (xviii) the percentage equal amount of the distribution made on such Distribution Date to the aggregate realized losses divided by the aggregate Scheduled Principal Balance Holders of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; Certificates allocable to Prepayment Charges. The Trustee may make the foregoing Monthly Statement (xxand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the amount of any Subsequent Recoveries for Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Fr1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorMaster Servicer, the Trustee Certificate Insurer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Fixed Rate Extra Principal Distribution Amount (if any) and the Adjustable Rate Extra Principal Distribution Amount (if any); (ii) the Available amount of such distribution to Holders of each Class allocable to interest; (iii) the Class Certificate Principal Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Stated Principal Balance of the Mortgage Loans for each Loan Group for the following Distribution Date; (viiiv) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer; (vi) the Trustee Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period; (vii) any Interest Carry Forward Amount for each such Class; (viii) the amount, if any, of Insured Payments distributable to each Class of Certificates on such Distribution Date, the Certificate Insurer Premium paid on such Distribution Date, and the aggregate amount of Insured Payments, interest thereon and previously unpaid Certificate Insurer Premiums paid on such Distribution Date and remaining to be paid on such Distribution Date or any future Distribution Date; (ix) if any, the amount of any Administrative Fees paid to Advances for each Certificate Group included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate cumulative amount of Applied Realized Loss Amounts for each such Class Certificate Group to date; (xi) the number and aggregate principal amounts of Certificates with respect Mortgage Loans in each Loan Group (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days, (3) 90 or more days and (4) in bankruptcy, and (B) in foreclosure and delinquent (1) 30 to 59 days, (2) 60 to 89 days, (3) 90 or more days and (4) in bankruptcy, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date; (xixii) with respect to any Mortgage Loan that became an REO Property during the amount of Delinquency Advances included preceding calendar month in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicereach Loan Group, the Trustee as successor master servicer loan number and any other successor master servicer, if applicable) as outstanding Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) Date and the number and aggregate Scheduled Principal Balances date 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 proceedingacquisition thereof; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date; (xiv) the Stated Principal Balance of all Liquidated Loans in each Loan Group and the cumulative Realized Losses for each Loan Group through the end of the preceding month; (xv) with respect to any Liquidated Loan in the aggregate and for each Class of CertificatesLoan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month loan number and aggregate Realized Losses through such Distribution DateStated Principal Balance relating thereto; (xvi) the aggregate amount of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxwith respect to each Loan Group, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period;Overcollateralization Amount and Specified Overcollateralization Amount; and (xvii) the Prepayment Premiums collected by or any Adjustable Rate Certificate Carryover paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed and any remaining Adjustable Rate Certificate Carryover remaining on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 Adjustable Rate Certificates at the close of business on such Distribution Date; and (xxv) the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s Trustee's responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee Certificateholders and the Depositor Certificate Insurer is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make send a paper copy of the above each statement available upon requestprovided pursuant to this Section 4.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(vi) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class R Certificates the Forms 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Back Cert Ser 2000-1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the DepositorServicer, the Trustee Depositor and each Rating Agency a statement based, based in part, upon the part on information provided by the Servicers Servicer setting forth with respect to the related distribution: (i) the Class factor actual Distribution Date, the related Record Date, the Interest Accrual Period(s) for each Class of Certificatesfor such Distribution Date and the LIBOR Determination Date or MTA Determination Date, as applicable, for such Interest Accrual Period; (ii) the amount of Available Distribution Amount and the Principal Prepayment Amount for such Distribution DateFunds; (iii) the amount thereof of Available Funds allocable to principal, the Senior Optimal Principal Amount (separately identifying the aggregate amount of any components thereof) and the Subordinate Optimal Principal Prepayments and Liquidation Proceeds included thereinAmount (separately identifying the components thereof); (iv) the amount of distributions to the Holders of Certificates of each Class Available Funds 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; (v) the aggregate amount of any Principal Prepayment and repurchase proceeds included in 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 hereunderdistributions to Certificateholders; (vi) the Class Principal Certificate Balance or the Notional Amount of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Certificates before and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateDate and the aggregate amount of all Advances recovered during the related Due Period; (vii) the aggregate Scheduled Pool Stated Principal Balance of the Mortgage Loans for the following related Distribution Date; (viii) the amount of the Expense Fees paid to or retained by the Servicer with respect to such Distribution Date and the amount of any expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to for such Distribution Date, in each case identifying the general purpose of such fees; (xix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers Servicer (and the Master Servicer, Servicer or the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixi) the number and aggregate Scheduled Principal Balances outstanding principal balances of Mortgage Loans (1) as reported to which the Securities Administrator Scheduled Payment is Delinquent 30 to 59 days, 60 to 89 days, 90 or more days, and in such other periods and for such times as required by the applicable ServicerRegulation AB, (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), (ii2) that have become REO propertyProperty, (iii3) as to which foreclosure proceedings that are in foreclosure, (4) that are in bankruptcy and (5) that have been commenced and (iv) modified, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last Business Day of the immediately preceding month; (xiiixii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loans that became REO Properties during the preceding calendar month, the Scheduled Principal Balance aggregate number of such Mortgage Loans and the related aggregate outstanding principal balance of such Mortgage Loan Loans as of the last Business Day close of business on the Determination Date preceding such Distribution Date of the calendar month preceding REO Properties; (xiii) the amount of Carryover Shortfall Amounts for the related Due Period and the amount of Carryover Shortfall Amounts in the Carryover Shortfall Reserve Fund for that Distribution Date; (xiv) the total number and outstanding principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month related Due Period and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of since the Cut-off Date; (xixxvi) the amount distributed on of any Realized Losses during the related Due Period, if any, allocated to each Class P of Certificates; (xxxvii) with respect to each Class of Certificates, any amount not covered by Compensating Interest on such Distribution Date; (xviii) the amount of any Subsequent Recoveries for such Distribution Date; (xxixix) updated the amount of any Net Deferred Interest allocated to any Class for such Distribution Date; (xx) the number of Mortgage Loan informationLoans at the beginning and end of the applicable reporting period, such as weighted average interest ratethe pool factor, and the WAC Rate, and weighted average remaining term; (xxi) if provided by the Servicer, any material changes to methodology regarding calculations of Delinquencies and charge-offs; (xxii) if provided by the aggregate amount of Servicer, any Mortgage Loan material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the Due Period or that has been repurchased from the Trust Fundhave cumulatively become material over time; (xxiii) theif provided by the Servicer, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.any material breaches of pool asset representations or warranties or transaction covenants; (xxiv) the aggregate shortfallSenior Percentage, if anySenior Prepayment Percentage, allocated to each Class of Certificates at the close of business on Subordinate Percentage and Subordinate Prepayment Percentage for such Distribution Date; (xxv) if provided by the Servicer, and if applicable, information regarding any new issuance of asset-backed securities backed by the same asset pool, 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 period and pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable; and (xxvxxvi) if provided by the Certificate Rate for Servicer, any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures, as applicable, used to originate, acquire or select the new pool assets. In addition, each Class Form 10-D prepared and filed by the Securities Administrator pursuant to Section 8.15 shall include the following information with respect to the related distribution: (i) material breaches of Certificates applicable to such Distribution DateMortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and (ii) material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice. (b) The Securities Administrator’s 's responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Agency and the Depositor is limited limited, if applicable, to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide make available the above statement via the Securities Administrator’s 's internet website. The Securities Administrator's website which can will initially be located at xxx.xxxxxxx.xxx. Assistance http://www.ctslink.com and assistance in using the website can be obtained obtaixxx xx xxxxxxx xxx Xxxurities Administrator's customer service desk at (866) 846-4526. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Securities Administrator’s investor relations desk at (000) 000-0000's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also not be liable for the dissemination of information in accordance with this Agreement. The Securities Administrator shall make a paper copy available to each Analytics Company via the Securities Administrator's internet website each statement to Certificateholders prepared pursuant to this Section 4.02(b). The Securities Administrator and the Servicer shall cooperate in good faith with the Depositor to reconcile any discrepancies in such statements, and the Securities Administrator shall provide any corrections to such statements to each Analytics Company within ten Business Days of the above statement available upon requestrelated Distribution Date, provided that the Securities Administrator shall only be obligated to report to one Analytics Company in any month. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(iii), (a)(ii), (a)(iii) and (a)(viia)(iv) of this Section 4.02 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (d) Notwithstanding any other provision of this Agreement, the Securities Administrator shall be entitled comply with all federal withholding requirements respecting distributions to rely on information provided by third parties for purposes Certificateholders of preparing interest or original issue discount that the foregoing report, but Securities Administrator reasonably believes are applicable under the Code. The consent of Certificateholders shall not be responsible required for such withholding. If the accuracy Securities Administrator does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Securities Administrator shall indicate the amount withheld to such Certificateholders. Such amounts shall be deemed to have been distributed to such Certificateholders for all purposes of such informationthis Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Swap Provider, the Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable record dates, accrual periods, determination dates for each Class of Certificatescalculating distributions and general distribution dates; (ii) with respect to each Loan Group, the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral 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 thereof 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 and Liquidation Proceeds included therein; (iv) the amount of 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 aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of such distribution to holders of the Servicing Fees paid as required under the Servicing Agreements Class I-A , Class I-M, Class II-A and Class II-M Certificates allocable to interest and the Trust Agreement and any other fees or expenses paid out of portion thereof, if any, provided by the Available Distribution Amount for such Distribution Date as permitted hereunder;Interest Rate Swap Agreement (vi) the Class Principal Balance of with respect to each Class of CertificatesLoan Group, the Component Principal Balance of Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for 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 to the distribution of principal on such Distribution Daterelated Offered Certificates (if any); (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the Mortgage Loans for current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the following Distribution Daterelated Net WAC Cap Rate; (viii) the amount Certificate Principal Balance or Certificate Notional Amount, as applicable, of the expenses each Class before and fees paid after giving effect (i) to or retained by the Servicers and paid all distributions allocable to or retained by the Trustee 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) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator 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 such Class of Class A, Class M and Class B Certificates with respect to the current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the related Net WAC Cap Rate; (xi) with respect to each Loan Group, the aggregate amount of Delinquency Advances included in the distribution on such Distribution Date and (including the general purpose of such Advances), the aggregate amount of Delinquency unreimbursed Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of at the close of business on the Determination Date immediately preceding such Distribution Date, and the general source of funds for reimbursements; (xii) the number and aggregate Scheduled Stated Principal Balances Balance of the Group I Loans and Group II Loans (A) Delinquent, exclusive of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerin foreclosure, (i1) that are current, 30 days contractually delinquentDelinquent, (2) 60 days contractually delinquent, Delinquent and (3) 90 days contractually delinquent or 120 days or more contractually delinquent Delinquent, and (each to be calculated using the Mortgage Bankers Association B) in foreclosure and Delinquent (MBA1) method)30 days Delinquent, (ii2) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 60 days Delinquent and (iv3) 90 days or more Delinquent, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar montheach Loan Group, the Scheduled Principal Balance amount of, if any, of excess cashflow or excess spread and the related Mortgage Loan as application of the last Business Day of the calendar month preceding the Distribution Datesuch excess cashflow; (xiv) with respect to each Loan Group, the aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loans as of the end of the related Prepayment Period; (xv) 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 (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xvxvii) in the aggregate and for with respect to each Class of CertificatesLoan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate cumulative Realized Losses through such Distribution Date; (xvi) the aggregate amount end of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicerspreceding month; (xviii) with respect to each Loan Group, the percentage equal to three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off 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 amount distributed on the Class P Certificatespreceding calendar month or that have become material over time; (xx) the amount with respect to each Loan Group, material breaches of any Subsequent Recoveries for such Distribution DateMortgage Loan representations or warranties or transaction covenants; (xxi) updated Mortgage with respect to each Loan informationGroup, such as weighted average interest rate, the amount of the Prepayment Charges remitted by the master servicer and weighted average remaining termthe amount on deposit in the related reserve fund; (xxii) the aggregate amount of any Group I Net 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 Loan that has been repurchased Loans from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.applicable; and (xxiv) any material changes in the aggregate shortfallsolicitation, 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 anythere is a material change in the solicitation, allocated 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 Class of Certificates at the close of business on such Distribution Date; and , and if no such notification occurs, the Securities Administrator has no obligation to report with respect to (xxvxxiv). 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 Certificate Rate for each Class of Certificates applicable Trust Fund. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to such 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 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 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 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 internet website. The Securities Administrator’s internet website shall initially be located at xxx.xxxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution 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 shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Securities Administrator’s internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in accordance with this Agreement. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000related Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency on its website at xxx.xxxxxxxx.xxx. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. . (d) The Securities Administrator shall be entitled furnish quarterly to rely the Holders of the Residual Certificates 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 information provided by third parties for purposes the Closing Date on each class of preparing Regular Interests and Residual Interests created hereunder and on the foregoing reportrelated Mortgage Loans, but shall not be responsible for based on the accuracy 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 Interests and 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 informationcalendar quarter with respect to each class of Regular Interests or 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 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 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee Rate paid as required under to or retained by the Servicing Agreements and Servicer, the Trust Agreement amount of the Trustee Fee Rate paid to or retained by the Trustee, and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date;; 117 (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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); 118 (xix) the amount distributed on 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 P Certificatesof 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-2 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 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; and (xxii) any Subsequent Recoveries for 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; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixxiii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans 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 for each Class of Certificates applicable to such Distribution DateGroup Two Mortgage Loans. (b) The Securities Administrator’s responsibility for providing Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, other parties to this Agreement and any other interested parties via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxxx.xxx." Parties that are unable to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data provided to the CertificateholdersTrustee by the Servicer and information received by the Trustee from third parties, each Rating Agencyincluding the Swap Counterparty. In preparing or furnishing the foregoing information, the Trustee and shall be entitled to rely conclusively on the Depositor is limited to the availability, timeliness and accuracy of the information derived from or data provided to the Master ServicerTrustee by the Servicer or any other party 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 Servicers Trustee may require registration and the Sellersacceptance of a disclaimer. The Securities Administrator shall provide Trustee will not be liable for the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance dissemination of information 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 a paper copy of the above statement available upon requestaccordance with this Agreement. (c) Upon request, 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 Securities Administrator Trustee shall make available on its website or cause to be furnished to each 119 Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balances of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution DateMortgage Loans, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal Balance of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viiivi) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate 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 such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Datelast day of such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (xxv312) 904-8162. Parxxxx xxxx xxx unable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

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 CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) with respect to each loan group, the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the Monthly Excess Interest with respect to the Certificates (if any) and (D) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the aggregate realized losses divided by percent equivalent of a fraction, the aggregate Scheduled Principal numerator of which is the Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer, and the master servicing fees, if any, received by the Master Servicer during the related Due Period; (xx) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan informationthe amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such as weighted average interest rate, and weighted average remaining termfees; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from Basis Risk Shortfalls and the Trust Fundamount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxiii) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, for such Distribution Date.Cap Contract; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at loan group, whether the close of business on such Distribution DateStepdown Date has occurred and whether any Trigger Event is in effect; and (xxv) any legal proceedings pending against the Certificate Rate for each Class of Certificates applicable Sponsor, the Depositor or the Trustee, or their respective property, that is material to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited including proceedings known to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersbe contemplated by governmental authorities. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first Class V-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. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of prepayment penalties, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance related amount of the Class 1A-2, Class 2A-2, Class 1X-PO and Class 2X-PO Components, Servicing Fee paid to or retained by the Servicer and the Component Notional Amount amount of investment income earned on funds on deposit in the Class 1X-IO and Class 2X-IO Components after giving effect to Certificate Account for the distribution of principal on such Distribution Daterelated Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates aggregate and with respect to such Distribution Datethe Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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 Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiv) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for whether a Stepdown Trigger Event has occurred; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by or 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 by the Servicersfor each such Class and any remaining Interest Carryover Amount for each such Class; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans as of 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 distributed on of prepayment penalties received during the Class P Certificatesrelated Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date; (xx) the related amount of any Subsequent Recoveries for such Distribution Datethe Credit Risk Manager Fee paid to the Credit Risk Manager; (xxi) updated Mortgage Loan information, such as weighted average interest rate, the amount and weighted average remaining term;purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(iv); and (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest and the close amount of business on such Distribution Date; and (xxv) the Certificate Rate for any payments to each Class of Certificates applicable to such Distribution Datethat are not treated as payments received in respect of a REMIC Regular Interest. (b) The Securities Administrator’s responsibility for providing the above statement Servicer shall deliver to the Certificateholders, each Rating Agency, NIMs Insurer a copy of any report delivered by the Trustee and the Depositor is limited Servicer to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon requestTrustee. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable accrual periods for each Class of Certificatescalculating distributions and general distribution dates; (ii) the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof allocable to principalamount, separately identifying if any, of fees or expenses accrued and paid, with an identification of the aggregate payee and the general purpose of such fees including the related amount of any Principal Prepayments and Liquidation Proceeds included thereinthe Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (iv) the amount of distributions the related distribution to the Holders of the Class A (other than the Class A-4 Certificates), Class M and Class B Certificates of each Class (by Class) allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the amount aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements such distribution to Holders of each Class of Class A, Class M and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder;Class B Certificates allocable to interest (vi) the Class Principal Balance amount of each Class of Certificates, the Component Principal Balance distribution made on such Distribution Date to the Holders 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 P Certificates allocable to the distribution of principal on such Distribution Date;Prepayment Charges (vii) the aggregate Scheduled Principal Balance Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of the Mortgage Loans for the following Distribution DateCertificates (if any); (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 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 Notional 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; (xi) the number and aggregate Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy and those Liquidated Mortgage Loans as of the end of a Prepayment Period) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days (xii) or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date; (xiii) the amount of Delinquency aggregate Advances included in the distribution on such Distribution Date and (including the general purpose of such Advances), the aggregate amount of Delinquency unreimbursed Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close end of business on the Determination Date immediately preceding such Distribution DateDue Period, and the general source of funds for reimbursements; (xiixiv) the number amount of, if any, of excess cashflow or excess spread and aggregate Scheduled Principal Balances 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 Loans as reported to Loan terms, fees, penalties or payments during the Securities Administrator by the applicable Servicer, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent preceding calendar month 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 proceedingmaterial over time; (xiiixvii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan Loans as of the last Business Day end of the calendar month preceding the Distribution DateDue Period; (xivxviii) 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 end of the related Due Period; (xx) 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 market value, if availablethe 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 Determination Date last day of the calendar month preceding such Distribution Date; (xv) in Date and the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate cumulative Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance end of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining termpreceding month; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fundwhether a Trigger Event exists; (xxiii) theinformation on loss and delinquency used for determining early amortization, Senior Prepayment Percentages liquidation, stepdowns or other performance triggers and whether the Subordinate Percentages, if any, for such Distribution Date.trigger was met; (xxiv) the aggregate shortfall, if any, allocated to each Class amount of Certificates at the close of business Prepayment Charges remitted by the Master Servicer and the amount on such Distribution Datedeposit in the Reserve Fund; and (xxv) updated pool composition data including the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee following: weighted average mortgage rate and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersweighted average remaining term. The Securities Administrator shall provide Trustee may make the above statement 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 Trustee’s internet website which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s investor relations customer service desk at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the above distribution options are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above statement available upon requestparties. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

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 Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorCertificate Insurer, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balances of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balances of Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 Date and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxxfirst lien Mortgage Loans, (B2) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedssecond lien Mortgage Loans, and (C3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xiv) the Realized Losses incurred during the related Prepayment PeriodPeriod and the cumulative Realized Losses through the end of the preceding month; (xv) whether a Trigger Event exists; (xvi) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; (xvii) the Prepayment Premiums collected by or paid by the Servicers;Certificate Insurer Premium Amount; and (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) Reimbursement Amount, separately indicating the amount distributed related to (a) interest draws on the Class P Certificates; II-A Policy, (xxb) principal draws on the amount of Class II-A Policy and (c) all other amounts representing such Reimbursement Amount. The Trustee may make the foregoing Monthly Statement (and, at its option, any Subsequent Recoveries for such Distribution Date; (xxiadditional files containing the same information in an alternative format) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages available each month to Certificateholders and the Subordinate Percentages, if any, for Certificate Insurer via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (312) 904-0351. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Date. (xxiv) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Servicer, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the based on information provided by the Servicers Servicer setting forth with respect to the related distribution: (i) the Class factor actual Distribution Date, the related Record Date, the Interest Accrual Period(s) for each Class of Certificatesfor such Distribution Date and the LIBOR Determination Date for such Interest Accrual Period; (ii) the amount of Available Distribution Amount and the Principal Prepayment Amount for such Distribution DateFunds; (iii) the amount thereof of Available Funds allocable to principal, the Principal Remittance Amount (separately identifying the aggregate amount of any components thereof) and the Principal Prepayments Distribution Amount (and Liquidation Proceeds included thereinthe calculation thereof); (iv) the amount of distributions to the Holders of Certificates of each Class Available Funds allocable to interest, 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 monthsInterest Remittance Amount; (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements any Unpaid Interest Amount for each Class included in such distribution and any remaining Unpaid Interest Amounts after giving effect to such distribution, any Basis Risk Carry Forward Amount for each Class and the Trust Agreement and any other fees or expenses paid out amount of such Basis Risk Carry Forward Amount covered by withdrawals from the Available Distribution Amount for Excess Reserve Fund Account on such Distribution Date as permitted hereunderDate; (vi) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation of the shortfall as between principal and interest, including any Basis Risk Carry Forward Amount not covered by amounts in the Excess Reserve Fund Account; (vii) the Class Principal Certificate Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Certificates before and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution Date; (viiviii) the aggregate Scheduled Pool Stated Principal Balance of the Mortgage Loans for the following related Distribution Date; (viiiix) the amount of the expenses and fees Expense Fees paid to or retained by the Servicers Servicer and paid to or retained by the Trustee with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (stated separately and in the aggregate) with respect to such Distribution Date; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers Servicer (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances outstanding principal balances of Mortgage Loans (1) as reported to which the Securities Administrator Scheduled Payment is delinquent 31 to 60 days, 61 to 90 days, 91 or more days, and in such other periods and for such times as required by the applicable ServicerRegulation AB, (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), (ii2) that have become REO propertyProperty, (iii3) as to which that are in foreclosure proceedings have been commenced and (iv4) that are in bankruptcy, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last Business Day of the immediately preceding month; (xiii) 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 (A) due on all outstanding Mortgage Loans 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; (xiv) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loans that became REO Properties during the preceding calendar month, the Scheduled Principal Balance aggregate number of such Mortgage Loans and the aggregate outstanding principal balance of such Mortgage Loans as of the related Mortgage Loan as close of business on the last Business Day of the calendar immediately preceding month preceding and the Distribution Datemonth and year of acquisition of such REO Properties; (xivxv) the total number and principal balance of any REO Properties (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 Trigger Event has occurred and is continuing (including the calculation demonstrating the existence of the Trigger Event); (xvii) the amount on deposit in the Excess Reserve Fund Account (after giving effect to distributions on such Distribution Date); (xvxviii) in the aggregate and for each Class of Certificates, the aggregate amount of Applied Realized Losses Loss Amounts incurred during the preceding calendar month and aggregate Applied Realized Losses Loss Amounts through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount of any Net Monthly Excess Cash Flow on such Distribution Date and the allocation of it to the Certificateholders with respect to Unpaid Interest Amounts, Applied Realized Loss Amounts and Basis Risk Carry Forward Amounts; (xx) the amount of any Net Swap Payments, Net Swap Receipts, Swap Termination Payments or Defaulted Swap Termination Payments; (xxi) the calculations of LIBOR and Swap LIBOR; (xxii) the Subordinated Amount and Specified Subordinated Amount; (xxiii) Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by the Servicer; (xxiv) the Cumulative Loss Percentage and the aggregate amount of Realized Losses used to calculate the Cumulative Loss Percentage; (xxv) the amount distributed on the Class P X Certificates; (xxxxvi) the amount of any Subsequent Recoveries for such Distribution Date;; and (xxixxvii) updated the number of Mortgage Loan informationLoans at the beginning and end of the applicable reporting period, such as 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 Securities Administrator pursuant to Section 8.12 shall include the following information with respect to the related distribution: (xxiiA) the aggregate amount material breaches of any Mortgage Loan that representations and warranties of which the Securities Administrator 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 Dateknowledge or has received written notice; and (xxvB) material breaches of any covenants under this Agreement of which the Certificate Rate for each Class of Certificates applicable to such Distribution DateSecurities Administrator has knowledge or has received written notice. (b) The Securities Administrator’s 's responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Agency and the Depositor is limited limited, if applicable, to the availability, timeliness and accuracy of the information derived received from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide make available the above statement via the Securities Administrator’s 's internet website. The Securities Administrator's website which can will initially be located at xxx.xxxxxxx.xxx. Assistance http://www.ctslink.com and assistance in using the website can be obtained obtaixxx xx xxxxxxx xxx Xxxurities Administrator's customer service desk at (301) 815 6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator may change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Securities Administrator’s investor relations desk at (000) 000-0000's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Securities Administrator shall make available to each Analytics Company via the Securities Administrator's internet website each statement to Certificateholders prepared pursuant to this Section 4.03(a). The Securities Administrator and the Servicer shall cooperate in good faith with the Depositor to reconcile any discrepancies in such statements, and the Securities Administrator shall provide any corrections to such statements to each Analytics Company within ten Business Days of the related Distribution Date. The Securities Administrator will also make a paper copy 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 above monthly statement available upon requestto 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) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.03 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. (d) Not later than three Business Days following the Determination Date and in no event later than the 20th calendar day of each month, the Servicer shall furnish to the Depositor with respect to clause (i) below and the Securities Administrator with respect to clause (ii) below, a monthly remittance advice statement (the "Servicer Remittance Report") (in a format substantially similar to that attached as Exhibit V to this Agreement) containing such information as shall be reasonably requested (to the extent such information is available to the Servicer), (i) by the Depositor or the Responsible Party to enable the Depositor to disclose "static pool information", as required by Item 1105 of Regulation AB, with respect to the Mortgage Loans, and (ii) by the Securities Administrator to enable the Securities Administrator to provide the reports required by Section 4.03(a) as to the accompanying remittance. The Securities Administrator Servicer shall be entitled concurrently deliver to rely the Depositor and the Responsible Party a data tape, in a format substantially similar to that attached as Exhibit V to this Agreement, containing the information required pursuant to this Section 4.03(d) on information provided by third parties a loan-by-loan basis for purposes all of preparing the foregoing reportMortgage Loans. Not later than three Business Days following the Determination Date and in no event later than the 20th calendar day of each month, but the Servicer shall not be responsible for furnish to the accuracy of such informationDepositor a default deport (the "Default Report").

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC Trust 2006-Wm1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Swap Provider, the Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable record dates, accrual periods, determination dates for each Class of Certificatescalculating distributions and general distribution dates; (ii) the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof allocable to principalamount, separately identifying if any, of fees or expenses accrued and paid, with an identification of the aggregate payee and the general purpose of such fees including the related amount of any Principal Prepayments and Liquidation Proceeds included thereinthe Servicing Fees paid to or retained by the Company or the related Servicer for the related Due Period; (iv) the amount of distributions the related distribution to the Holders of the Class A, Class M and Class B Certificates of each Class (by class) allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the amount aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of such distribution to Holders of the Servicing Fees paid as required under the Servicing Agreements Class A, Class M and Class B Certificates allocable to interest and the Trust portion thereof (if any), provided by the Swap Agreement and any other fees or expenses paid out the amount of the Available Distribution Amount for such Distribution Date as permitted hereundercoverage remaining; (vi) the Class Principal Balance of each Class of Certificates, the Component Principal Balance of Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for the Class 1A-2A, Class 2A-2, Class 1X-PO M and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateB Certificates (if any); (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of Class A, Class M and Class B Certificates with respect to the Mortgage Loans for current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the following Distribution Daterelated Net WAC Cap Rate; (viii) the amount Certificate Principal Balance of the expenses Class A, Class M and fees paid Class B Certificates before and after giving effect (i) to or retained by all distributions allocable to principal on such Distribution Date and (ii) the Servicers and paid to or retained by the Trustee with respect to allocation of any Applied Realized Loss Amounts for such Distribution Date; (ix) if any, the amount number and Stated Principal Balance of any Administrative Fees paid to all the Master Servicer or Securities Administrator with respect to Mortgage Loans for such Distribution Date, together with updated pool composition information including the following: weighted average mortgage rate and weighted average remaining term; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the aggregate amount of Delinquency Advances included in the distribution on such Distribution Date and (including the general purpose of such Advances), the aggregate amount of Delinquency unreimbursed Advances reported by as of the Servicers (end of the Due Period, and the Master Servicergeneral source of funds for reimbursements; (xi) the number and aggregate Stated Principal Balance of the Mortgage Loans (A) Delinquent, the Trustee as successor master servicer exclusive of Mortgage Loans in foreclosure, (1) 30 days Delinquent, (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent, if applicable(B) as outstanding in foreclosure and Delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the Determination last day of the calendar month preceding such Distribution Date immediately and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentagesof, 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee excess cashflow or excess spread and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy application of such information.excess cashflow;

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 shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Trustee shall prepare and make available on its website located at "xxx.xxxxxx.xxx/xxx" to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the Swap Provider, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for each Class date of Certificates; (ii) the Available such Distribution Amount Date and the Principal Prepayment Amount Determination Date for such Distribution Date; (ii) for each Class, the applicable Record Date and Accrual Period; (iii) the amount thereof of the related distribution to Holders of each Class 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, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (iv) the amount of distributions such distribution to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable together with any Non-Supported Interest Shortfalls allocated 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 monthsClass; (v) the aggregate amount Class Certificate Principal Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Servicing Fees paid as required under the Servicing Agreements and the Trust Agreement and allocation of any other fees or expenses paid out of the Available Distribution Amount Applied Realized Loss Amounts for such Distribution Date as permitted hereunderDate; (vi) the Class Pool Stated Principal 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 to the distribution of principal on for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of the Mortgage Loans for Servicing Fee paid to or retained by the following Distribution DateServicer, the amount of the Trustee Fee paid to or retained by the Trustee and any amounts constituting reimbursement or indemnification of the Servicer or Trustee; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or Trustee Fee retained by the Trustee with respect to such Distribution Date; (ix) if any, the amount Pass-Through Rate for each Class of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to Certificates for such Distribution Date; (x) the Pass-Through Rate for each amount of Advances included in the distribution on such Class Distribution Date, the aggregate amount of Certificates with respect to Advances outstanding as of the close of business on such Distribution Date and the amount of Advances reimbursed since the previous Distribution Date; (xi) the amount of Delinquency Servicing Advances included in made since the distribution on such previous Distribution Date and the aggregate amount of Delinquency Servicing Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) the number and aggregate Scheduled Stated Principal Balances Balance of the Mortgage Loans, the Net Rate, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as reported to of the Securities Administrator by close of business on 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 last day of 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 proceedingcalendar month preceding such Distribution Date; (xiii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate; (xiv) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate; (xv) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) in 30-day increments until foreclosure or other disposition and (B) in foreclosure, (C) in bankruptcy and (D) that are REO Properties, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate; (xvi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans; (xivxvii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xv) , in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersaggregate; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of the Mortgage all Liquidated Loans as of the preceding Distribution Date, in the aggregate; (xix) whether a Stepdown Trigger Event has occurred and is in effect; (xx) 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; (xxi) 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 applicable Cut-off Date; (xixxxii) 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 applicable Cut-off Date; (xxiii) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xxxxiv) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the close amount of business on 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) 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(k) and the amount thereof to be paid to the Offered Certificates as described in Section 4.04(k) hereof; (xxvi) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made; (xxvii) any material modifications, extensions or waivers as to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the applicable Cut-off Date; (xxviii) unless such information is set forth in the Form 10-D relating to such Distribution DateDate or an appropriate Form 8-K, and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and (xxvxxix) the Certificate Rate for each Class number and aggregate principal balance of Certificates applicable to such any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"xxx.xxxxxx.xxx/xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000) 0001-0000800-934-6802. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall 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 available upon requestand 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 Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, [Reserved]. (d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holder of the Class R Certificate each Form 1066 and each Form 1066Q, upon written request, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust Series 2006-Amn1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, Date based in part, upon the part on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, the NIM Insurer, the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission on behalf of the Issuing Entity, the information set forth in items (xxvi) through (xxxv) below are not required to be included in such statement during any such calendar year: (i) the Class factor for amount of the related distribution to Holders of each Class of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution Amount; (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 amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the amount of the Servicing Fee paid to or retained by the Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount weighted average life for each Class of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to Certificates for such Distribution Date; (ix) if any, the amount weighted average coupon for each Class of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to Certificates for such Distribution Date; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Ab1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare (on the basis of information obtained by the Master Servicer) and the Trustee shall cause to be forwarded by mail to each Certificateholder, the DepositorMaster Servicer, the Trustee Seller, Bloomberg, and each the Rating Agency Agencies a statement based, in part, upon the information provided by the Servicers setting forth with respect the following information as to each Class of Certificates to the related distribution:extent received from the Master Servicer. (i) the Class factor for aggregate amount of the 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; (ii) the Available Distribution Amount and aggregate amount of the Principal Prepayment Amount for distribution to be made on such Distribution DateDate to the Holders of each Class of Certificates allocable to interest; (iii) the amount thereof allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments Monthly Advances required to be made by or on behalf of the Master Servicer with respect to such Distribution Date, (B) the aggregate amount of such Monthly Advances actually made, and Liquidation Proceeds included therein(C) the amount, if any, by which (A) above exceeds (B) above; (iv) the amount of 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; (v) the 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 Aggregate Loan 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding 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; (xiivii) 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 Balances Balance of Mortgage Loans Loans, as reported to the Securities Administrator Trustee by the applicable Master Servicer, (ia) that are currentremaining outstanding as of the end of the prior calendar month, and (b) delinquent 30 to 59 days contractually delinquenton a contractual basis, (c) delinquent 60 to 89 days contractually delinquenton a contractual basis, (d) delinquent 90 days contractually delinquent or 120 days or more contractually delinquent days on a contractual basis, and (each to be calculated using the Mortgage Bankers Association (MBA) method), (ii) that have become REO property, (iiie) as to which foreclosure proceedings have been commenced commenced, in the case of the foregoing clauses (b) and (ivc), as of the Determination Date and in the case of the foregoing clauses (a), (d) and (e), as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last Business Day of the immediately preceding month; (xiiiix) 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 Date occurs; (x) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on behalf the Distribution Date in such preceding month; (xi) with respect to replacement of Certificateholders through foreclosure or deed Mortgage Loans in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related each Deleted Mortgage Loan as and of the last Business Day of the calendar month preceding the Distribution Dateeach Replacement Mortgage Loan; (xivxii) the total number and principal balance of any REO Properties (and market valueaggregate outstanding Net Prepayment Interest Shortfalls, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and any, for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal after giving effect to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; and (xxvxiii) the Certificate Pass-Through Rate for each Class of Certificates applicable to such Distribution DateDate with respect to each Class of Certificates. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall be expressed as a dollar amount per $1,000 of original principal amount of Certificates. (b) The Securities Administrator’s responsibility for providing the above statement to the CertificateholdersUpon reasonable advance notice in writing, each Rating Agencyif required by federal regulation, the Trustee will provide to each Certificateholder that is a savings association, bank or insurance company certain reports and access to information and documentation regarding the Mortgage Loans sufficient to permit such Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Certificates and the Depositor is limited Master Servicer 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 availability, timeliness Trustee's actual expenses incurred in providing such reports and accuracy access. The Trustee will provide to any Certificateholder upon request the outstanding Current Principal Amounts as of the information derived from date requested and, if then known by the Master ServicerTrustee, the Servicers and outstanding Current Principal Amount after giving effect to any distribution to be made on the Sellers. 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 a paper copy of the above statement available upon requestnext following Distribution Date. (c) Upon requestthe written request of any Certificateholder, within a reasonable 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 90 days, or such shorter period of time as may be required by statute or regulation, after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished send to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, and make available to each Beneficial Holder (identified as such by the Clearing Agency) in accordance with applicable regulations, a statement containing report summarizing the information set forth in clauses (a)(i), (a)(ii), (a)(iiiitems provided to Certificateholders pursuant to Section 4.03(a) and (a)(vii) of this Section 4.02 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 information shall include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effectTrust Fund. The Securities Administrator Master Servicer shall be entitled to rely on provide the Trustee with such information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible as is necessary for the accuracy of Trustee to prepare such information.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 CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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, 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance all of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for the Class A Certificates, each Class of Class M Certificates and paid to or retained by the Trustee 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, and (B) in foreclosure and Delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the Mortgage Loans; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Date; (xix) the amount distributed close of business on the Class P Certificates; (xx) last day of the amount of any Subsequent Recoveries for calendar month preceding such Distribution Date; (xxixiv) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixv) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fundwhether a Trigger Event exists; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date. (xxivxvi) the aggregate shortfall, if any, allocated to each Class amount of Certificates at the close of business distribution made on such Distribution DateDate to the Holders of the Class C Certificates allocable to Prepayment Charges; and (xxvxvii) the Certificate Rate for each Class of Certificates applicable amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.06(c) and Section 4.07(c), 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 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 Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same; (v) The treatment of Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-Wm2)

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 CertificateholderHolder of a Class of Certificates of the Issuxxx Xxxxxx, xxx Servicer, the DepositorTrustee, the Trustee Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date or reimbursed during the period; (ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of Delinquency Advances reported by (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the Servicers aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xi) the number and the Master Serviceraggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicableand (B) as outstanding in foreclosure 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 Determination Date immediately 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; (xii) 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 Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiv) the aggregate Stated Principal Balance of all loans that become Liquidated Loans as of such Distribution Date calculated as of the 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 the aggregate and for effect; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xx) the amount of any Subsequent Recoveries for 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 Supplemental Interest Trust 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; (xxixxiv) updated the number of Mortgage Loan informationLoans 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 Due Period as weighted average interest rate, a result of such reductions in the aggregate and weighted average remaining termwith respect to the Group One Mortgage Loans and the Group Two Mortgage Loans; (xxiixxv) 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 with respect to each Class of Certificates at Certificates, the close amount of business 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 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 (xxvxxxii) 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 Certificate Rate for each Class balances of Certificates applicable to such Distribution Dateany prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"www.etrustee.net". Assistance in using the website can be obtained by xxxxxxx xxx Xxxxtee at (312) 992-1102. Parties that are unable to use the website are entitlex xx xxxx x xxper copy mailed to them via first class mail by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000and indicating such. The Securities Administrator will also Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make a paper copy such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee shall be entitled to rely conclusively on the accuracy of the above statement available upon requestinformation or data provided to 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 will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Rm5)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable accrual periods for each Class of Certificatescalculating distributions and general distribution dates; (ii) the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof allocable to principalamount, separately identifying if any, of fees or expenses accrued and paid, with an identification of the aggregate payee and the general purpose of such fees including the related amount of any Principal Prepayments and Liquidation Proceeds included thereinthe Servicing Fees paid to or retained by the related Servicer or the Company for the related Due Period; (iv) the amount of distributions the related distribution to the Holders of the Class A, Class X, Class M and Class B Certificates of each Class (by Class) allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the amount aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements such distribution to Holders of each Class of Class A, Class X, Class M and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder;Class B Certificates allocable to interest (vi) the Class Principal Balance amount of each Class of Certificates, the Component Principal Balance distribution made on such Distribution Date to the Holders 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 P Certificates allocable to the distribution of principal on such Distribution Date;Prepayment Charges (vii) the aggregate Scheduled Principal Balance Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of the Mortgage Loans for the following Distribution DateCertificates (if any); (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 Class A, Class X, 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 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; (xi) the amount number and aggregate Stated Principal Balance of Delinquency Advances included the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy and those Liquidated Mortgage Loans as of the distribution on such Distribution Date end of a Prepayment Period) (1) 30 days Delinquent, (2) 60 days Delinquent and the aggregate amount of Delinquency Advances reported by the Servicers (3) 90 days or more Delinquent, (B) in foreclosure and the Master Servicerdelinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) the number and amount of aggregate Scheduled Principal Balances Advances included in the distribution on such Distribution Date (including the general purpose 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) methodsuch Advances), (ii) that have become REO propertythe aggregate amount of unreimbursed Advances as of the end of the Due Period, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceedinggeneral 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) Loans as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) unless otherwise set forth in the aggregate and for each Class Form 10-D relating to such distribution date, material breaches of Certificates, pool asset representation or warranties or transaction covenants which have been reported to the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 securities administrator in accordance with this Agremeetn or the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the ServicersServicing Agreement; (xviii) the percentage equal to total number and principal balance of any real estate owned or REO Properties as of the end of the related Due Period; (xix) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Date; (xix) end of the amount distributed on the Class P CertificatesPrepayment Period; (xx) the amount Realized Losses as of any Subsequent Recoveries for the close of business on the last day of the calendar month preceding such Distribution DateDate and the cumulative Realized Losses through the end of the preceding month; (xxi) whether a Trigger Event exists; (xxii) information on loss and delinquency used for determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met; (xxiii) the amount of the Prepayment Charges remitted by the Servicers and the amount on deposit in the Reserve Fund; and (xxiv) updated Mortgage Loan information, such as pool composition data including the following: weighted average interest rate, mortgage rate and weighted average remaining term; . The Securities Administrator may make the foregoing Monthly Statement (xxiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the aggregate amount of any Mortgage Loan Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that has been repurchased from are unable to use the Trust Fund; (xxiii) the, Senior Prepayment Percentages 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 Subordinate Percentages, if any, for way Monthly Statements are distributed in order to make such Distribution Date. (xxiv) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iiia)(iv) and (a)(viia)(v) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 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. The . (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 Interests 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 Interests 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 Interests 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 Realized Losses 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 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Master Servicer, the Servicers, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distribution: (i) the Class factor actual Distribution Date, the related Record Date, the Interest Accrual Period(s) for each Class of Certificatesfor such Distribution Date and the LIBOR Determination Date for such Interest Accrual Period; (ii) the amount of Available Distribution Amount and the Principal Prepayment Amount for such Distribution DateFunds; (iii) the amount thereof of Available Funds allocable to principal, the Principal Remittance Amount (separately identifying the aggregate amount of any components thereof) and the Principal Prepayments and Liquidation Proceeds included thereinDistribution Amount (separately identifying the components thereof); (iv) the amount of distributions to the Holders of Certificates of each Class Available Funds allocable to interest, 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 monthsInterest Remittance Amount; (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements any Unpaid Interest Amount for each Class included in such distribution and any remaining Unpaid Interest Amounts after giving effect to such distribution, any Basis Risk Carry Forward Amount for each Class and the Trust Agreement and any other fees or expenses paid out amount of such Basis Risk Carry Forward Amount covered by withdrawals from the Available Distribution Amount for Excess Reserve Fund Account on such Distribution Date as permitted hereunderDate; (vi) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation of the shortfall as between principal and interest, including any Basis Risk Carry Forward Amount not covered by amounts in the Excess Reserve Fund Account; (vii) the Class Principal Certificate Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Certificates before and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of Pool Stated Principal Balance for the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such related Distribution Date; (ix) if any, the amount of any Administrative Expense Fees paid to or retained by the Servicer, the Securities Administrator and the Master Servicer or Securities Administrator (stated separately and in the aggregate) with respect to such Distribution Date; (x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers Servicer (and the Master Servicer, the Trustee Servicer as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) the number and aggregate Scheduled Stated Principal Balances Balance of such Mortgage Loans (1) as reported to which the Securities Administrator by the applicable ServicerScheduled Payment is delinquent 31 to 60 days, 61 to 90 days, and 90+ days, (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), (ii2) that have become REO propertyProperty, (iii3) as to which that are in foreclosure proceedings have been commenced and (iv4) that are in bankruptcy, in each case as to which of the close of business on the last day of the related borrower is subject to a bankruptcy proceedingDue Period; (xiii) with respect to any Mortgaged Property acquired on behalf for each of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding 12 calendar monthmonths, or all calendar months since the related Cut-off Date, whichever is less, the Scheduled Principal Balance aggregate dollar amount of the related Scheduled Payments (A) due on all Outstanding Mortgage Loan as Loans on each of the last Business Day Due Dates in each such month and (B) delinquent 60 days or more on each of the calendar month preceding the Distribution DateDue Dates in each such month; (xiv) the total number and outstanding principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Datelast Business Day of the related Due Period; (xv) whether a Trigger Event has occurred and is continuing (including the calculation demonstrating the existence of the Trigger Event and the aggregate outstanding principal balance of all 60+ Day Delinquent Mortgage Loans); (xvi) the amount on deposit in the Excess Reserve Fund Account (after giving effect to distributions on such Distribution Date); (xvii) in the aggregate and for each Class of Certificates, the aggregate amount of Applied Realized Losses Loss Amounts incurred during the preceding calendar month and aggregate Applied Realized Losses Loss Amounts through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal amount of any Net Monthly Excess Cash Flow on such Distribution Date and the allocation of it to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off DateCertificateholders with respect to Unpaid Interest Amounts, Applied Realized Loss Amounts and Basis Risk Carry Forward Amounts; (xix) the amount of any Cap Payments, Net Swap Payments, Net Swap Receipts, Swap Termination Payments or Defaulted Swap Termination Payments; (xx) the LIBOR and Swap LIBOR rates (and the calculation thereof, if applicable); (xxi) the Overcollateralized Amount and Specified Overcollateralized Amount; (xxii) Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by the Servicer; (xxiii) the Cumulative Realized Loss Percentage and the aggregate amount of Realized Losses used to calculate the Cumulative Realized Loss Percentage; (xxiv) the amount distributed on the Class P X Certificates; (xxxxv) the amount of any Subsequent Recoveries for such Distribution Date;; and (xxixxvi) updated the number of Mortgage Loan informationLoans at the beginning and end of the applicable reporting period, such as the pool factor (being the Stated Principal Balance of the Mortgage Loans for the related Distribution Date divided by the Cut-off Date Principal Balance), the weighted average interest rate, and the weighted average remaining term;. In addition, each Form 10-D prepared and filed by the Securities Administrator pursuant to Section 8.12 shall include the following information with respect to the related distribution: (xxii1) the aggregate amount material breaches of any Mortgage Loan that representations and warranties of which the Securities Administrator 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 Dateactual knowledge or has received written notice; and (xxv2) material breaches of any covenants under this Agreement of which the Certificate Rate Securities Administrator has actual knowledge or has received written notice; provided, that, if the Securities Administrator receives written notice of events described in (i) and/or (ii) above from the Servicer, the Servicer shall be responsible for each Class of Certificates providing information to the Securities Administrator for inclusion in the applicable to such Distribution Date.Form 10-D. (b) The Securities Administrator’s 's responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Master Servicer, the Servicer and the Depositor is limited limited, if applicable, to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Servicer and the SellersServicer. The Securities Administrator shall provide make available the above statement via the Securities Administrator’s 's internet website. The Securities Administrator's website which can will initially be located at xxx.xxxxxxx.xxx. Assistance http://www.ctslink.com and assistance in using the website can be obtained by calling the Securities obtaixxx xx xxxxxxx xxx Xxxurities Administrator’s investor relations 's customer service desk at (000) 0001-0000866-846-4526. The Securities Administrator will also make a A paper copy of the above statement will also be made available upon request. The Securities Administrator shall make available to each Analytics Company, either electronically or via the Securities Administrator's internet website, each statement to Certificateholders prepared pursuant to Section 4.03(a). The Securities Administrator and the Servicer shall cooperate in good faith with the Depositor to reconcile any discrepancies in such statements, and the Securities Administrator shall make available via its Internet website any corrections to such statements to each Analytics Company as soon as reasonably practicable after the related Distribution Date. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iiia)(1) and (a)(viia)(2) of this Section 4.02 4.03 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. (d) Not later than the Determination Date for each Distribution Date, the Servicer shall furnish to the Depositor with respect to clause (i) below and the Securities Administrator with respect to clause (ii) below, a monthly remittance advice statement (the "Servicer Remittance Report") substantially similar to the format set forth in Exhibit CC hereto, a monthly defaulted loan report substantially similar to the format set forth in Exhibit DD hereto and a realized loss report substantially similar to the format set forth in Exhibit EE hereto (or in such other format mutually agreed to among the Depositor, the Servicer, and the Master Servicer) relating to the period ending on the last day of the preceding calendar month containing such information as shall be reasonably requested (i) by the Depositor to enable the Depositor to disclose "static pool information", as required by Item 1105 of Regulation AB, with respect to the Mortgage Loans, and (ii) by the Securities Administrator to enable the Securities Administrator to provide the reports required by Section 4.03(a) as to the accompanying remittance and the period ending on the close of business on the last day of the related Prepayment Period. The Servicer shall concurrently deliver to the Depositor a data tape, in form and substance reasonably satisfactory to the Depositor, containing the information required pursuant to this Section 4.03(d) on a loan-by-loan basis for all of the Mortgage Loans. The Depositor will use the information required pursuant to this Section 4.03(d) in compliance with applicable law. The Servicer shall furnish to the Securities Administrator an individual loan accounting report, as of the last Business Day of each month, to document Mortgage Loan payment activity on an individual Mortgage Loan basis. With respect to each month, the corresponding individual loan accounting report (in electronic format) shall be entitled received by the Securities Administrator no later than the Reporting Date, which report shall, at a minimum, contain the following: (i) with respect to rely each Scheduled Payment, the amount of such remittance allocable to principal (including a separate breakdown of any Principal Prepayment, including the date of such prepayment, and any Prepayment Premiums, along with a detailed report of interest on Principal Prepayment amounts remitted in accordance with Section 3.25); (ii) with respect to each Scheduled Payment, the amount of such remittance allocable to interest; (iii) the amount of servicing compensation received by the Servicer during the prior distribution period; (iv) the individual and aggregate Stated Principal Balance of the Mortgage Loans; (v) the aggregate of any expenses reimbursed to the Servicer during the prior distribution period pursuant to Section 3.11; (vi) the number and aggregate outstanding principal balances of Mortgage Loans (a) delinquent 31 to 60 days, 61 to 90 days and 90+ days; (b) as to which foreclosure or bankruptcy proceedings of the related mortgagor have commenced; and (c) as to which REO Property has been acquired; (vii) each Mortgage Loan which has been altered, modified or varied during such month, and the reason for such modification (i.e., extension of maturity date, Mortgage Interest Rate); (viii) with respect to each Liquidated Mortgage Loan, the amount of any Realized Losses for such Mortgage Loan; and (ix) any other information provided reasonably required by third parties for the Securities Administrator to enable it to prepare the Monthly Statement referred to in Section 4.03(a). (e) For all purposes of preparing this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the foregoing reportso-called "OTS" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, but shall a Mortgage Loan would be delinquent with respect to a Scheduled Payment due on a Due Date if such Scheduled Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be responsible for more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the accuracy close of such informationbusiness on the Mortgage Loan's second succeeding Due Date. The Servicer hereby represents and warrants that, as of the Closing Date, the Servicer does not have a safety and soundness regulator that requires the Servicer to conform to any delinquency recognition policy.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-He2)

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 CertificateholderHolder of a Class of Certificates of the Trusx Xxxx, xxx Xxxxicer, the DepositorTrustee, the Trustee Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and the Trust Agreement Servicer and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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 Subsequent Recoveries for 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; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixxiii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Subordinate Percentages, if any, for such Distribution DateGroup Two Mortgage Loans. (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at Certificates, the close amount of business any Non-Supported Interest Shortfalls on such Distribution Date; and; (xxv) the Certificate Rate number and amount of pool assets at the beginning and ending of each period, and updated pool composition information; (xxvi) any material changes to methodology regarding calculations of 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 general source of funds for each Class 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 Certificates applicable to pool asset representations or warranties or transaction covenants; (xxx) 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 (xxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such Distribution Dateas pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"www.etrustee.net". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations xxxxxxx xxx Xxxxtee's customer service desk at (000312) 000904-00007992. Parties that are unable to use the website are 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 will also Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make a paper copy such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data provided to the Trustee by the Servicer and information received by the Trustee from the Swap Counterparty. In preparing or furnishing the foregoing information, the Trustee shall be entitled to rely conclusively on the accuracy of the above statement available upon requestinformation or data (i) regarding the Mortgage Loans and the related REO Property that has been provided to 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 will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, the Trustee Credit Risk Manager and each Rating Agency the Swap Provider via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates and (D) the Monthly Excess Interest, if any; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses for the Mortgage Loans to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day end of the calendar month preceding the Distribution Daterelated Prepayment Period; (xivxvii) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) the Mortgage Loans in the aggregate as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled Principal Balance scheduled principal balance of the Mortgage Loans that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the scheduled principal balances of all of the Mortgage Loans, as applicable as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on the Class P Certificatesaggregate 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 Due Period; (xxi) [reserved]; (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 Subsequent Recoveries for Basis Risk Shortfalls and the amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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) amounts payable in respect of the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution DateSwap Agreement; and (xxv) whether the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Stepdown Date has occurred and the Depositor whether any Trigger Event is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersin effect. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicers and the Swap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.10 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.10 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee Trustee, the NIM Insurer (if any) and each Rating Agency a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distribution: (i) the Class factor for each Class Available Distribution Amount, the aggregate Principal Distribution Amount, the Principal Prepayment Amount and the aggregate amount of Certificatesany Payoffs; Liquidation Proceeds; Condemnation Proceeds; Insurance Proceeds; proceeds from any repurchase of any Mortgage Loans by a Responsible Party; and Realized Losses (incurred during the related Principal Prepayment Period) included therein; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class interest (separately identifying (Aa) the amount of such interest accrued during the calendar month preceding related Interest Accrual Period and (b) the month amount from previous Interest Accrual Periods); (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest; (iv) the aggregate Certificate Principal Balance of each class of Certificates (and, in the case of the Class A-IO Certificates, the related Notional Amount) at the close of business on such Distribution Date, and (B) identifying any reduction in such Certificate Principal Balance or Notional Amount, as applicable, due to the amount allocation of interest from previous calendar monthsany Realized Loss; (v) the 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 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Stated Principal Balance of the Mortgage Loans for the following Distribution Date; (viiivi) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution DateDate and any other fees and expenses paid out of the Available Distribution Amount as permitted under this Agreement; (ixvii) if any, the amount of any Administrative Fees Fees, if any, paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Certificate Interest Rate for each such Class of Certificates with respect to such Distribution Date; (xiix) if applicable, the amount of Delinquency P&I Advances included in the distribution on such Distribution Date, the aggregate amount of P&I Advances reimbursed during the calendar month preceding such Distribution Date and the aggregate amount of Delinquency P&I Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiix) the number and aggregate Scheduled Principal Balances outstanding principal balances of Mortgage Loans (1) as reported to which the Securities Administrator by the applicable ServicerMonthly Payment is delinquent 31 to 60 days, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 61 to 90 days contractually delinquent or 120 days and 91 or more contractually delinquent days (each to be calculated using the Mortgage Bankers Association (MBA) OTS method), (ii2) that have become REO propertyProperty, (iii3) as to which that are in foreclosure proceedings have been commenced and (iv4) that are in bankruptcy, in each case as to which the related borrower is subject to a bankruptcy proceeding; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as close of business on the last Business Day of the calendar month immediately preceding the Distribution Datemonth; (xivxi) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during any Deferred Principal amounts applicable to the preceding calendar month and aggregate Realized Losses through Class A-PO Certificates for such Distribution Date; (xvixiii) the aggregate amount of (A) Payoffs each Senior Collateral Group Percentage, Senior Prepayment Percentage, Subordinate Percentage and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Subordinate Prepayment PeriodPercentage for such Distribution Date; (xviixiv) the Prepayment Premiums collected by or paid by the Servicers; (xviiixv) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of the Mortgage Loans as of the Cut-off Date; (xixxvi) the amount distributed on the Class P Certificates; (xxxvii) the amount of any Subsequent Recoveries for such Distribution Date; (xxixviii) updated Mortgage Loan information, such as number, weighted average interest rate, and weighted average remaining term;; and (xxiixix) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentagesinformation concerning Servicer modifications, if any, for such Distribution Date. (xxiv) the aggregate shortfallor any material modifications, if any, allocated to each Class of Certificates at the close of business on such Distribution Date; and (xxv) the Certificate Rate for each Class of Certificates extensions or waivers applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to terms of the CertificateholdersTrust Agreement, each Rating Agencyany Servicing Agreement, any Certificate, the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from Servicing Fees or the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon requestServicing Fees. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Trust Agreement (GSAA Home Equity Trust 2007-9)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Loan Group Collateral Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by Excess Servicing Fee, the Trustee Fee, the Credit Risk Manager Fee, the FSA Premium and any other mortgage insurance fees, if applicable, with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 September 2003 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfallNet WAC Rate; (xxv) the Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(ix), if any, allocated to each Class and the balance of Certificates at the close of business Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and (xxvxxviii) the Certificate amount on deposit in the Interest Rate for each Class Cap Account (including a breakdown of Certificates applicable to amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date. (b) ). The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Home Equity Pass Through Certs Ser 2003-4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorMaster Servicer, the Trustee Seller and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein and (B) the aggregate of all scheduled payments of principal included therein; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the aggregate of the Stated Principal Balances of the Mortgage Loans for the Mortgage Pool and each Loan Group; (vi) the related amount of the Servicing Fees paid as required under to or retained by the Servicing Agreements and Master Servicer for 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 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 to the distribution of principal on such Distribution Date;related Due Period; 104 (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of Certificates with respect to the Mortgage Loans for the following Distribution Datecurrent Accrual Period; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such the September 2003 Distribution Date, the Seller Shortfall Interest Requirement (if any) for the related Master Servicer Advance Date; (ix) if any, the amount of any Administrative Fees paid to Advances for each Loan Group included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate for each such Class cumulative amount of Certificates with respect Applied Realized Loss Amounts to such Distribution Datedate; (xi) the cumulative amount of Delinquency Advances included in claim payments made pursuant to the distribution on such Distribution Date Mortgage Insurance Policy and the aggregate cumulative amount of Delinquency Advances reported by claims rejected or denied under the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution DateMortgage Insurance Policy; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported in each Loan Group: (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to the Securities Administrator by the applicable Servicer59 days, (i2) that are current, 30 60 to 89 days contractually delinquent, 60 days contractually delinquent, and (3) 90 days contractually delinquent or 120 days or more contractually delinquent days, and (each B) in foreclosure and Delinquent (1) 30 to be calculated using the Mortgage Bankers Association (MBA) method)59 days, (ii2) that have become REO property, (iii) as 60 to which foreclosure proceedings have been commenced 89 days and (iv3) 90 or more days, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar monthmonth in each Loan Group, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution DateLoan; (xiv) and the total number and principal balance aggregate Stated Principal Balances of any Mortgage Loans converted to REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class Stated Principal Balances of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Dateall Liquidated Loans; (xvi) with respect to any Liquidated Loan in each Loan Group, the aggregate amount of (A) Payoffs loan number and Stated Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment PeriodBalance relating thereto; (xvii) the Prepayment Premiums collected by or paid by the Servicerswith 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 percentage equal to Class A-R, Class C and Class P Certificates) and any remaining Net Rate Carryover remaining on each Class of Certificates (other than the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the CutClass A-off R, Class C and Class P Certificates) on such Distribution Date;; 105 (xix) the amount distributed on of Prepayment Charges collected or waived by the Class P CertificatesMaster Servicer; (xx) the amount of any Subsequent Recoveries for such Distribution Date[reserved]; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term;[reserved]; and (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentagesamount, if any, received under the Cap Contracts 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s Trustee's responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide Trustee will send a copy of each statement provided pursuant to this Section 4.05 to each Rating Agency. The Trustee may make the above statement information available to Certificateholders via the Securities Administrator’s internet Trustee's 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 a paper copy of the above statement available upon requestxxxx://xxx.xxxxxxxxxxxx.xxx. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(vi) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class A-R Certificates the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 106 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 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certs Ser 2003-Bc4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers setting forth with respect and the Cap Counterparty , the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicers, the Rating Agencies and the Depositor a statement. Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. All parties that are unable to use the 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 Trustee shall have the right to change the way such statements are distributed in order to make such distributions more convenient and/or more accessible to the related distributionabove parties and the Trustee shall provide timely and adequate notification to all above parties regarding such changes. Such statement for each $1,000 principal amount of Certificates shall set forth the following: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of prepayment penalties, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance related amount 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 applicable Servicing Fee paid to the distribution of principal on such Distribution Dateor retained by each Servicer; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid (A) Realized Losses and (B) Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for each such Class amount of Certificates (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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[Reserved]; (xiii) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager; (xiv) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in last day of the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through preceding such Distribution Date; (xvi) the aggregate amount Stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during all Liquidated Loans as of the related Prepayment Periodpreceding Distribution Date; (xvii) the Prepayment Premiums collected by or paid by the Servicerswhether a Trigger Event has occurred; (xviii) 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; (xix) 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; (xx) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans as of which were purchased or repurchased during the preceding Due Period and since the Cut-off Date; (xixxxi) 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; (xxii) [Reserved]; (xxiii) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(v); (xxxxiv) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest and the close amount of business on such Distribution Date; andany payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; (xxv) the Certificate Rate for as of each Class of Certificates applicable to such Distribution Date, the amount, if any, to be deposited in the Cap Contract Account as described in Section 4.04(j) and the amount thereof to be paid to the Offered Certificates as described in Section 4.04(j) hereof. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request.[Reserved] (c) Upon requestIf so requested in writing or as required by applicable law, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class R Certificate the Form 1066 and each Form 1066Q and shall respond promptly (subject to receipt of any information required to be provided by the Depositor or the Servicer pursuant to this Agreement) to written requests made not more frequently than quarterly by any Holder of Class R Certificate with respect to the following matters: 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; (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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2003 8he)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balance of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balance of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 Date and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxxfirst lien Mortgage Loans, (B2) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedssecond lien Mortgage Loans, and (C3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xiv) the Realized Losses incurred during the related Prepayment PeriodPeriod and the cumulative Realized Losses through the end of the preceding month; (xv) 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 Prepayment Premiums collected by or paid by amount of any Net Swap Payment payable to the Servicers;Swap Administrator, any Net Swap 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 (xviii) the percentage equal amount of the distribution made on such Distribution Date to the aggregate realized losses divided by the aggregate Scheduled Principal Balance Holders of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; Certificates allocable to Prepayment Charges. The Trustee may make the foregoing Monthly Statement (xxand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the amount of any Subsequent Recoveries for Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests 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 Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

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 On or before each Distribution Determination Date, the Securities Administrator Servicer shall make available prepare and, concurrently with each distribution to each CertificateholderCertificateholders, the Depositor, deliver to the Trustee and the Trustee shall cause to be delivered and mailed to each Rating Agency Certificateholder at the address appearing on the Certificate Register a statement based, in part, upon as of the information provided by the Servicers related Distribution Date setting forth with respect to (the related distribution:"MONTHLY REPORT"): (i) the Class factor for each A Principal Distributable Amount and the Class of CertificatesB Principal Distributable Amount; (ii) the Available Distribution Class A Interest Distributable Amount and the Principal Prepayment Amount for such Distribution DateClass B Interest Distributable Amount; (iii) the amount thereof allocable to principalof the Class A and Class B Principal and Interest Carryover Shortfalls, separately identifying if any, for the aggregate amount of any next succeeding Distribution Date and the change in the Class A and Class B Principal Prepayments and Liquidation Proceeds included thereinInterest Carryover Shortfalls from such Distribution Date; (iv) the amount of distributions distributable on such date and allocable 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 monthsYield Supplement Deposit; (v) the aggregate amount Pool Balance as of the Servicing Fees paid as required under close of business on the Servicing Agreements and the Trust Agreement and any other fees or expenses paid out last day of the Available Distribution Amount for such Distribution Date as permitted hereunderrelated Due Period; (vi) the Class Principal Balance amount of each Class of Certificatesfees payable on such Distribution Date, separately identifying the Component Principal Balance of Monthly Servicing Fee and the Trustee Fee; (vii) the amount otherwise distributable to the Class 1A-2, B Certificateholders that will be distributed to the Class 2A-2, A Certificateholders on such Distribution Date; (viii) the remaining Class 1X-PO A Certificate Balance and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components B Certificate Balance after giving effect to the distribution of principal to be made on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) if anythe Class A Pool Factor, the amount of any Administrative Fees paid to Class A Certificate Factor, the Master Servicer or Securities Administrator with respect to Class B Pool Factor and the Class B Certificate Factor immediately before and immediately after such Distribution Date; (x) the Pass-Through Rate for each such Class amount of Certificates with Advances made by the Servicer in respect of the related Contracts and the related Due Period and the amount of unreimbursed Advances in respect of the related Contracts determined by the Servicer to such Distribution Datebe a Defaulted Contract; (xi) the amount of Delinquency Advances included amounts on deposit in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution DateYield Supplement Account; (xii) 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;Reserve Fund Requisite Amount; and (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for such Distribution Date; the distributions described in (xxii) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; or (xxiiii) the aggregate amount of any Mortgage Loan that has been repurchased above payable with funds withdrawn from the Trust Fund; (xxiii) the, Senior Prepayment Percentages Reserve Fund and the Subordinate Percentages, if any, for such Distribution Date. (xxiv) amount remaining in the aggregate shortfall, if any, allocated Reserve Fund after giving effect to each Class of Certificates at all deposits and withdrawals from the close of business Reserve Fund on such Distribution Date; and (xxv) the Certificate Rate for each Class of Certificates applicable to such Distribution Datedate. (b) The Securities Administrator’s responsibility for providing Within the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable prescribed period of time for tax reporting purposes after the end of each calendar year, the Securities Administrator Servicer shall cause to be furnished prepare and the Trustee shall mail to each Person who Certificateholder of record at any time during such year a report as to the calendar year was a Certificateholder, a statement containing the information set forth in clauses aggregate amounts reported pursuant to subsections (a)(i), (a)(ii), (a)(iiiii) and (a)(viiviii) of this Section 4.02 aggregated for SECTION 7.06, attributable to such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

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 Certificateholdereaxx Xxxxxx xx x Xlass of Certificates of the Issuing Entity, the Servicer, the Trustee, the Rating Agencies, the Depositor, the Trustee Cap Contract Counterparty and each Rating Agency the Swap Counterparty a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date or reimbursed during the period; (ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of Delinquency Advances reported by (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the Servicers aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xi) the number and the Master Serviceraggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicableand (B) as outstanding in foreclosure 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 Determination Date immediately 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; (xii) 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 Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiv) the aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the 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 the aggregate and for effect; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xx) the amount of any Subsequent Recoveries for 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; (xxixxv) updated the number of Mortgage Loan informationLoans 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 Due Period as weighted average interest rate, a result of such reductions in the aggregate and weighted average remaining termwith respect to the Group One Mortgage Loans and the Group Two Mortgage Loans; (xxiixxvi) 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 with respect to each Class of Certificates at Certificates, the close amount of business any Non-Supported Interest Shortfalls on such Distribution Date; (xxvii) the number 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 (xxvxxxiii) 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 Certificate Rate for each Class balances of Certificates applicable to such Distribution Dateany prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"www.etrustee.net". Assistance in using Assxxxxxxx xx xxxxx the website can be obtained by calling the Securities Administrator’s investor relations desk Trustee at (000312) 000992-00001102. The Securities Administrator will also make Partiex xxxx xxx xxxble to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the Trustee 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 shall be entitled to rely conclusively on the accuracy of the above statement available upon requestinformation or data provided to 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 will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ff2)

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Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable accrual periods for each Class of Certificatescalculating distributions and general distribution dates; (ii) the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof allocable to principalamount, separately identifying if any, of fees or expenses accrued and paid, with an identification of the aggregate payee and the general purpose of such fees including the related amount of any Principal Prepayments and Liquidation Proceeds included thereinthe Servicing Fees paid to or retained by the related Servicer or the Company for the related Due Period; (iv) the amount of distributions the related distribution to the Holders of the Class A, Class M and Class B Certificates of each Class (by Class) allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the amount aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements such distribution to Holders of each Class of Class A, Class M and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder;Class B Certificates allocable to interest (vi) the Class Principal Balance amount of each Class of Certificates, the Component Principal Balance distribution made on such Distribution Date to the Holders 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 P Certificates allocable to the distribution of principal on such Distribution Date;Prepayment Charges (vii) the aggregate Scheduled Principal Balance Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of the Mortgage Loans for the following Distribution DateCertificates (if any); (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 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 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; (xi) the amount number and aggregate Stated Principal Balance of Delinquency Advances included the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy and those Liquidated Mortgage Loans as of the distribution on such Distribution Date end of a Prepayment Period) (1) 30 days Delinquent, (2) 60 days Delinquent and the aggregate amount of Delinquency Advances reported by the Servicers (3) 90 days or more Delinquent, (B) in foreclosure and the Master Servicerdelinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) the number and amount of aggregate Scheduled Principal Balances Advances included in the distribution on such Distribution Date (including the general purpose 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) methodsuch Advances), (ii) that have become REO propertythe aggregate amount of unreimbursed Advances as of the end of the Due Period, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceedinggeneral 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) Loans as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) unless otherwise set forth in the aggregate and for each Class Form 10-D relating to such distribution date, material breaches of Certificates, pool asset representation or warranties or transaction covenants which have been reported to the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 securities administrator in accordance with this Agremeetn or the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the ServicersServicing Agreement; (xviii) the percentage equal to total number and principal balance of any real estate owned or REO Properties as of the end of the related Due Period; (xix) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Date; (xix) end of the amount distributed on the Class P CertificatesPrepayment Period; (xx) the amount Realized Losses as of any Subsequent Recoveries for the close of business on the last day of the calendar month preceding such Distribution DateDate and the cumulative Realized Losses through the end of the preceding month; (xxi) whether a Trigger Event exists; (xxii) information on loss and delinquency used for determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met; (xxiii) the amount of the Prepayment Charges remitted by the Servicers and the amount on deposit in the Reserve Fund; and (xxiv) updated Mortgage Loan information, such as pool composition data including the following: weighted average interest rate, mortgage rate and weighted average remaining term; . The Securities Administrator may make the foregoing Monthly Statement (xxiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the aggregate amount of any Mortgage Loan Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that has been repurchased from are unable to use the Trust Fund; (xxiii) the, Senior Prepayment Percentages 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 Subordinate Percentages, if any, for way Monthly Statements are distributed in order to make such Distribution Date. (xxiv) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iiia)(iv) and (a)(viia)(v) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 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. The . (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 Interests 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 Interests 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 Interests 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 Realized Losses 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 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor 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 Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorCertificate Insurer, the Trustee Trustee, the Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance all of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for 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 such Class case as of Certificates with respect to the close of business on the last day of the calendar month preceding such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixiv) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixv) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fundwhether a Trigger Event exists; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date. (xxivxvi) the aggregate shortfall, if any, allocated to each Class amount of Certificates at the close of business distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges; (xvii) the Certificate Insurer Premium Amount; and (xxvxviii) 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 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 Rate for each Class of Certificates applicable Insurer via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (312) 904-7053. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

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 Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate related amount of the Servicing Fees Fee paid as required under to or retained by 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 hereunderServicer; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Mortgage Loans; (ix) the amount of (A) Realized Losses and paid to or retained by the Trustee (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of preceding Due Period and since the Cut-off Date; (xixxvii) 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 distributed on and purpose of any withdrawal from the Class P Certificates; Collection Account pursuant to Section 3.08(a)(viii) (xxxix) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest and the close amount of business on such Distribution Date; and (xxv) the Certificate Rate for any payments to each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited to the availability, timeliness and accuracy that are not treated as payments received in respect of the information derived from the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.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 Date, the Securities Administrator shall make available to each Certificateholder, the DepositorDistribution, the Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, the Rating Agency Agencies and the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates the following information; provided, however, that with respect to any calendar year during which an annual report on 112 Form 10-K is not required to be filed with the related distributionCommission on behalf of the Issuing Entity, information set forth in items (xxiv) through (xxxi) below are not required to be included in such statement during any calendar year: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and the Trust Agreement Servicer and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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 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; (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 Subsequent Recoveries for Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the Offered Certificates (other than holders of the Class A-2B, Class A-2C, Class A-2D and Fixed Rate Subordinate Certificates) on such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixxiii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Subordinate Percentages, if any, for such Distribution DateGroup Two Mortgage Loans.; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at Certificates, the close amount of business any Non-Supported Interest Shortfalls on such Distribution Date; and; (xxv) the Certificate Rate number and amount of pool assets at the beginning and ending of each period, and updated pool composition information; (xxvi) any material changes to methodology regarding calculations of 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 general source of funds for each Class 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 Certificates applicable to pool asset representations or warranties or transaction covenants; (xxx) 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 (xxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such Distribution Dateas pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agencyother parties to this Agreement, and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx. "xxx.xxxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement available upon request. (c) Upon requestparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data provided to the Trustee by the Servicer and information received by the Trustee from any other third party, within a reasonable period of time after including the end of each calendar yearSwap Counterparty. In preparing or furnishing the foregoing information, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator Trustee shall be entitled to rely conclusively on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of the information or data that has been provided to the Trustee by the Servicer, the Swap Counterparty and any other party hereunder, and the Trustee shall have no liability for any errors in such informationinformation or data. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, Series 2006-Wmc2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Loan Balance of and the Mortgage Loans Aggregate Loan Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by Excess Servicing Fee, the Trustee Fee, the Credit Risk Manager Fee, the FSA Premium and any other mortgage insurance fees, if applicable, with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) [Reserved]; (xix) the percentage equal weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term[Reserved]; (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfallNet WAC Rate; (xxv) the Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(ix), if any, allocated to each Class and the balance of Certificates at the close of business Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and (xxvxxviii) the Certificate amount on deposit in the Interest Rate for each Class Cap Account (including a breakdown of Certificates applicable to amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date. (b) ). The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Home Eq Asset Trust 2003-6)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for 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, (C) the Extra Principal Distribution Amount (if any) and (D) the amount of Prepayment Charges distributed to the Class I-P Certificates and Class II-P Certificates; (ii) the Available 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 Amount Date and (ii) the Principal Prepayment Amount allocation of any Realized Losses for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of all of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Group I Mortgage Loans and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Group II Mortgage Loans for the following Distribution Date; (viiiv) the amount of the expenses and fees Servicing Fees paid to or retained by each Servicer for the Servicers and paid to or retained by related Due Period; (vi) the Trustee 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 cumulative amount of Group I Realized Losses and Group II Realized Losses to date and, in addition, if the Certificate Principal Balances of the Group II Mezzanine Certificates have all been reduced to zero, the cumulative amount of any Group II Realized Losses that have not been allocated to any Certificates; (viii) the number and aggregate principal amounts of Group I Mortgage Loans and Group II Mortgage Loans in (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; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loans that were liquidated during the preceding calendar month, the Scheduled Principal Balance loan number and the aggregate of the related Stated Principal Balances of, and Realized Losses on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; Loans (xiv) the total number and principal balance of any REO Properties (and market value, if availableon a loan group basis) as of the close of business on the Determination Date preceding such Distribution Date; (xvx) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixi) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled stated Principal Balance of the Group I Mortgage Loans or Group II Mortgage Loans, as applicable, 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 Group I Mortgage Loans or Group II Mortgage Loans, as applicable, as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixii) updated Mortgage Loan information, such as weighted average interest rate, the Group I Realized Losses and weighted average remaining termGroup II Realized Losses during the related Prepayment Period and the cumulative Group I Realized Losses and Group II Realized Losses through the end of the preceding month; (xxiixiii) 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 Net WAC Rate Carryover Amount for each Class of Certificates applicable and the amount on deposit in the Net WAC Reserve Fund; and (xiv) amounts payable in respect of the Cap Contract. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.ctslink.com". Assixxxxxx xx xxxxx the website can be obtained by calling the Trustee's customer service desk at (301) 815-6600. Partiex xxxx xxx xxxble 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 Trustee may change the way monthly statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from provided by the Master Servicer, the Servicers and the SellersServicers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AP1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany 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 Available 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 Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of all of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Mortgage Loans and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viiiv) the related amount of the expenses and fees Master Servicing Fees paid to or retained by the Servicers Master Servicer and the Servicing Fees paid to or retained by the Trustee 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; (ixviii) the cumulative amount of Applied Realized Loss Amounts to date and, in addition, if anythe Certificate Principal Balances of the Subordinate Certificates have all been reduced to zero, the cumulative amount of any Administrative Fees paid Realized Losses that have not been allocated to any Certificates; (ix) the Master Servicer 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 Securities Administrator with respect 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) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxi) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixiii) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixiv) 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 Net WAC Rate Carryover Amount for each Class of Certificates applicable to and the amount on deposit in the Net WAC Reserve Fund; and (xv) the amount of the distribution made on such Distribution DateDate 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 's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement based on information provided by the Securities Administrator, containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator 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. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Ac1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorMaster Servicer, the Trustee Seller, the Guarantor and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein and (B) the aggregate of all scheduled payments of principal included therein; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Stated Principal Balance of the Mortgage Loans for the following Distribution DateMortgage Pool and each Loan Group; (vi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period; (viii) the amount Net Rate Carryover paid on any Class of the expenses Certificates on such Distribution Date and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to any Net Rate Carryover remaining on any Class of Certificates on such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to Advances for each Loan Group included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate amount of Applied Realized Loss Amounts applied to the Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates and Class B Certificates for each such Class of Certificates with respect to such Distribution Date; (xi) the cumulative amount of Delinquency Advances included in Applied Realized Loss Amounts applied to the distribution on such Distribution Date Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution DateClass B Certificates to date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported in each Loan Group: (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to the Securities Administrator by the applicable Servicer59 days, (i2) that are current, 30 60 to 89 days contractually delinquent, 60 days contractually delinquent, and (3) 90 days contractually delinquent or 120 days or more contractually delinquent days, and (each B) in foreclosure and Delinquent (1) 30 to be calculated using the Mortgage Bankers Association (MBA) method)59 days, (ii2) that have become REO property, (iii) as 60 to which foreclosure proceedings have been commenced 89 days and (iv3) 90 or more days, in each case as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar monthmonth in each Loan Group, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as and the date of the last Business Day of the calendar month preceding the Distribution Dateacquisition thereof; (xiv) the total number and principal balance aggregate Stated Principal Balances of any Mortgage Loans converted to REO Properties (and market valueProperties, if available) in each Loan Group as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class Stated Principal Balances of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Dateall Liquidated Loans; (xvi) with respect to any Liquidated Loan in each Loan Group, the aggregate amount of (A) Payoffs loan number and Stated Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment PeriodBalance relating thereto; (xvii) the Prepayment Premiums collected by or paid by the Servicerswhether a Trigger Event has occurred; (xviii) the percentage equal amount of the distribution made to the aggregate realized losses divided by the aggregate Scheduled Principal Balance Holders of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P 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 any Subsequent Recoveries 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; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund[Reserved]; (xxiii) the, Senior all payments made by the Master Servicer in respect of Prepayment Percentages and the Subordinate Percentages, if any, Interest Shortfalls for such Distribution Date.; (xxiv) the aggregate shortfallamount of any claims made, if anyand any claims rejected, allocated under the Mortgage Insurance Policy during the related Collection Period; (xxv) the amount paid by the Guarantor under the Fannie Mae Guaranty for such Xxxxxixxxion Date; (xxvi) all amounts paid to each Class the Guarantor in respect of Certificates at the close of business on Guarantor Reimbursement Amount for such Distribution Date; and (xxvxxvii) the Certificate Rate for each Class of Certificates applicable to such Distribution Dateinformation set forth in the Prepayment Charge Schedule. (b) The Securities Administrator’s Trustee's responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will send a copy of each statement provided pursuant to this Section 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. Xx xxx xxxxx Xxxxxxxs Day preceding each Distribution Date, the Servicers 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 the SellersClass 2-A Certificates. The Securities Administrator Trustee shall provide the above deliver such statement on or before 3:00 PM (New York time) on such day via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance in using the website can following domain name: bond_admin@fanniemae.com. If a Guxxxxxxx Xxxxxxx xxxx xx payable on a Distribution Date, all information required under Section 4.05(a) must also be obtained by calling 110 similarly delivered to the Securities Administrator’s investor relations desk at (000) 000-0000Guarantor on such third Business Day preceding such Distribution Date. The Securities Administrator will also make a paper copy 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 statement available upon requestfor the related Distribution Date to the Trustee. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(vi) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class A-R Certificates the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset-Backed Certificate Series 2003-2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, Date based in part, upon the part on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution 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 amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the amount of the Servicing Fee paid to or retained by the Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Dateaggregate; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the distribution on such Distribution Date aggregate and with respect to the aggregate amount of Delinquency Advances reported by Group One Mortgage Loans and Group Two Mortgage Loans; (xii) with respect to any Mortgage Loan that became an REO Property during the Servicers (and the Master Servicerpreceding calendar month, the Trustee as successor master servicer loan number and any other successor master servicer, if applicable) as outstanding Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) and the number and aggregate Scheduled Principal Balances date of Mortgage Loans as reported to acquisition thereof, in 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 proceedingaggregate; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed whether a Stepdown Trigger Event has occurred and is in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Dateeffect; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate; (xv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date;aggregate (xvi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each Class of the aggregate amount of (A) Payoffs LIBOR Certificates on such Distribution Date and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of the Mortgage Loans (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 amount distributed on number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Class P Certificatespreceding Due Period; (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 102 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 Subsequent Recoveries for such Distribution DateMortgage 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) updated the number of Mortgage Loan informationLoans for which prepayment charges were received during the related Prepayment Period and, for each such as weighted average interest rateMortgage Loan, the amount of prepayment charges received during the related Prepayment Period and weighted average remaining termin the aggregate of such amounts for all such Mortgage Loans since the Initial Cut-off Date; (xxii) the aggregate amount and purpose of any Mortgage Loan that has been repurchased withdrawal from the Trust FundCollection Account pursuant to Section 3.08(a)(iv); (xxiii) the, Senior Prepayment Percentages 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 Subordinate Percentages, if any, for such Distribution Dateamount 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 shortfall, if any, allocated to each Class amount of Certificates at all Advances recovered during the close of business on such Distribution Date; andrelated Due Period; (xxv) the Certificate Rate for allocation to each Class of Certificates applicable 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; and (xxxiii) 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). 103 Notwithstanding the foregoing, such statement shall also include, with respect to each Distribution Date, the related Record Date, Determination Date, Distribution Date and the Accrual Period. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request.[Reserved] (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holder of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.Depositor pursuant to Section 8.12. 104

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Ab2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon (the information provided by the Servicers “Monthly Statement”) setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable record dates, accrual periods, determination dates for each Class of Certificatescalculation distributions and general Distribution Dates; (ii) with respect to the Available Distribution Amount mortgage pool and each Subgroup, the total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof of the Master Servicing Fees paid or retained by the Master Servicer for the related Due Period; (iv) with respect to each Subgroup, 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 and Liquidation Proceeds (B) the aggregate of all scheduled payments of principal included therein; (ivv) the amount of distributions any distribution 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; (v) the 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 amount of such distribution to Holders of each related 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 allocable to the distribution of principal on such Distribution Dateinterest; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans any accrued but unpaid interest for the following Distribution Daterelated Certificates; (viii) the amount Certificate Principal Balance or Notional Amount of each related Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to allocation of any Realized Losses for such Distribution Date; (ix) if any, the amount number and the aggregate of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Scheduled Principal Balances of all of the related Mortgage Loans for the related Distribution Date; (x) the amount of the Servicing Fees paid to or retained by the Servicer for the related Due Period; (xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Datethe current Interest Accrual Period; (xixii) the amount of Delinquency Advances included in the distribution on such Distribution Date and Date; (xiii) the aggregate cumulative amount of Delinquency Advances reported by Applied Realized Loss Amounts to date; (xiv) the Servicers number and aggregate principal amounts of Mortgage Loans calculated using the MBA method, (A) (1) 30 days Delinquent, (2) 60 days Delinquent and the Master Servicer(3) 90 or more days Delinquent, the Trustee as successor master servicer (B) in foreclosure and any other successor master servicerdelinquent (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 or more days Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 or more days Delinquent, in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances of any Mortgage Loans as reported to the Securities Administrator by the applicable Servicer, (i) Loan 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure was liquidated during the preceding calendar month, the loan number and Scheduled Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day end of the calendar month preceding the Distribution Daterelated Prepayment Period; (xivxvi) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close end of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by three month rolling average of the Servicers; (xviii) percent equivalent of a fraction, the percentage equal to the aggregate realized losses divided by numerator of which is 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 Scheduled Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) last day of the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for calendar month preceding such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixviii) the aggregate amount of any Mortgage Loan that has been repurchased from Realized Losses during the Trust Fund; (xxiii) the, Senior related Prepayment Percentages Period 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request. (c) Upon request, within a reasonable period of time after cumulative Realized Losses through the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.preceding month;

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Suntrust Alternative Loan Trust, Series 2006-if Mortgage Pass-Through Certificates, Series 2006-1f)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, Date based in part, upon the part on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxxx://xxx.xxxxxx.xxx/abs to each Holder of a Class of Certificates of the Issuing Entity, the Servicer, the Rating Agencies and the Depositor a statement setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class of Certificates; (ii) the Available Distribution Amount and the Principal Prepayment Amount for such Distribution Date; (iii) the amount thereof Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Extra Principal Distribution 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 amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the amount of the Servicing Fee paid to or retained by the Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Dateaggregate; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date, in the distribution on such Distribution Date aggregate and with respect to the aggregate amount of Delinquency Advances reported by Group One Mortgage Loans and Group Two Mortgage Loans; (xii) with respect to any Mortgage Loan that became an REO Property during the Servicers (and the Master Servicerpreceding calendar month, the Trustee as successor master servicer loan number and any other successor master servicer, if applicable) as outstanding Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) , in 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 proceedingaggregate; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed whether a Stepdown Trigger Event has occurred and is in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Dateeffect; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the related Determination Date preceding such Distribution Date, in the aggregate; (xv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate aggregate (xvi) any Floating Rate Certificate Carryover paid and for all Floating Rate Certificate Carryover remaining on each Class of Certificates, the aggregate amount Offered Certificates on such Distribution Date and 115 Stated Principal Balance (as of Realized Losses incurred the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding calendar month Due Period and aggregate Realized Losses through such Distribution since the Cut-off Date; (xvixvii) the aggregate number and amount of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred prepayment charges received during the related Prepayment Period; (xviixviii) as of each Distribution Date, the Prepayment Premiums collected by or amount, if any, received pursuant to each Corridor Contract and the amount thereof, if any, to be paid by the Servicersto each Class of Certificates; (xviiixix) 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 percentage equal 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 aggregate realized losses divided by 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 Scheduled Principal Balance of and with respect to the Group One Mortgage Loans as 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; (xixxxii) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(iv); (xxxxiii) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such payments to each Class of Certificates that are treated as weighted average interest rate, payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan payments to each Class of Certificates that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Dateare not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest". (xxiv) the aggregate shortfall, if any, allocated amount of all Advances recovered during the related Due Period; (xxv) the allocation to each Class of Certificates 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 close beginning and ending of business 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; (xxxiv) the amount of Excess Interest for any class of the LIBOR Certificates; (xxxv) the Extra Principal Distribution Amount for such Distribution Date; and (xxvxxxvi) 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 Certificate Rate for foregoing, such statement shall also include, with respect to each Class of Certificates applicable to such Distribution Date, the related Record Date, Determination Date, Distribution Date and the Accrual Period. (b) The Securities Administrator’s responsibility for providing Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, other parties to this Agreement and any other interested parties via the Trustee's Internet website. The Trustee's Internet website shall initially be located at xxx.xxxxxx.xxx/xxx. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the CertificateholdersTrustee by the Servicer, each Rating AgencySwap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee and shall be entitled to rely conclusively on the Depositor is limited to the availability, timeliness and accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Servicers Swap Counterparty or any other third party required to deliver information and the SellersTrustee 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 Securities Administrator shall provide Trustee will not be liable for the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance dissemination of information 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 a paper copy of the above statement available upon requestaccordance with this Agreement. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially 117 comparable information shall be provided by 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 Trustee shall furnish to the Holder of the Class R Certificate each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust, Series 2007-Ab1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor for 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, (C) 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 Available Distribution Amount and the Principal Prepayment Amount for amount of such Distribution Datedistribution to Holders of each Class allocable to interest; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (viiiv) the aggregate Scheduled 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; (viiiv) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by for the Trustee related Due Period; (vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period; (vii) the cumulative amount of Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (viii) 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; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvx) 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 and for each Class as of Certificatesthe close of business on the Determination Date preceding such Distribution Date; (xi) the three month rolling average of the percent equivalent of a fraction, the aggregate amount numerator of which is the 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 Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the last day of such Distribution Date; (xii) the Realized Losses incurred during the preceding calendar month related Prepayment Period and aggregate the cumulative Realized Losses through the end of the preceding month; (xiii) the amount of any Basis Risk Shortfalls; (xiv) amounts payable by or to the Supplemental Interest Trust in respect of the Swap Agreement; (xv) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller for such Distribution Date; (xvi) as reported by Option One to the aggregate amount of Securities Administrator, (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred the amount of payments received from Option One related to claims under the PMI Policy during the related Prepayment Period;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 Premiums collected by or paid by Period (and the Servicers; number of Mortgage Loans to which such denials related) and (xviiiB) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of PMI Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for to which such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellersdenials related). The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicers and the Swap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

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 to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balances of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution DateMortgage Loans, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal Balance of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viiivi) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for 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 such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Datelast day of such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (xxv312) 904-6709. Parxxxx xxxx xxx unable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.this

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein and (B) the aggregate of all scheduled payments of principal included therein; (ii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iii) the Certificate Principal Balance of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount aggregate Stated Principal Balance of 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 monthsMortgage Loans; (v) the aggregate related amount of the Master Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and Master Servicer for the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunderrelated Due Period; (vi) the Class Principal Balance of Pass-Through Rate for each Class of Certificates, the Component Principal Balance of the Class 1A-2A, Class 2A-2, Class 1X-PO M and Class 2X-PO Components, and the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect B Certificates with respect to the distribution of principal on current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the applicable Net WAC Cap Rate; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of the expenses and fees paid Applied Realized Loss Amounts to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Datedate; (ix) if anythe number and aggregate Stated Principal Balance of the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, the amount of any Administrative Fees paid to the Master Servicer (2) 60 days Delinquent and (3) 90 days or Securities Administrator with respect to such Distribution Date; more Delinquent, (xB) the Pass-Through Rate for in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution DateDate and separately identifying such information for the (1) second lient Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xii) 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; (xiiix) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxi) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount Stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Datelast day of such Distribution; (xixxiii) the amount distributed on Realized Losses during the Class P Certificates;related Due Period and the cumulative Realized Losses through the end of the preceding month; and (xx) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixiv) the aggregate amount of any Mortgage Loan that has been repurchased Extraordinary Trust Fund Expenses withdrawn from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and Protected Account or the Subordinate Percentages, if any, Distribution Account for such Distribution Date. ; 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 (xxivin a format agreed to by the Securities Administrator and the Master Servicer) no later than five (5) Business Days prior to the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such 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 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 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 internet website. The Securities Administrator’s internet website shall initially by located at [xxx.xxxxxxxx.xxx]. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (xxv000) 000-0000. Parties that are unable to use the Certificate Rate above distribution 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 shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Securities Administrator’s internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will not be liable for each Class the dissemination of Certificates applicable to such Distribution Dateinformation in accordance with this Agreement. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicer. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. . (d) The Securities Administrator shall furnish quarterly to the Holders of the Residual Certificates 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 Interests 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 Interests 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; and (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 Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same. (v) The treatment of Realized Losses 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage-Backed Certificates, Series 2005-7)

Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicing Administrator or the 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 CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicing Administrator, the Trustee and each Trustee, the Rating Agency and the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfor each $1,000 principal amount of Certificates: (i) the Class factor for amount of the related distribution to Holders of 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) the Extra Principal Distribution Amount, if any; (ivii) the amount of distributions such distribution to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable together with any Non-Supported Interest Shortfalls allocated 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 monthsClass; (viii) the aggregate amount any Interest Carry Forward Amount for each Class 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 hereunderCertificates; (viiv) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of and the Class 1A-2, Class 2A-2, Class 1X-PO and Class 2X-PO Components, and the Component S Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of all distributions allocable to principal on such Distribution Date; (v) the Pool Stated Principal Balance for such Distribution Date; (vi) the related amount of the Aggregate Servicing Fee, the Servicing Fee paid to or retained by the Servicer, the amount of the Securities Administrator Fee paid to the Securities Administrator, the amount of the Credit Risk Manager Fee paid to the Credit Risk Manager; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses distribution on such Distribution Date; (ix) [RESERVED]; (x) the aggregate amount of reimbursement to the 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, (B) Applied Realized Loss Amounts to date and fees paid to or retained by (C) Unpaid Realized Loss Amounts; (xiii) the Servicers amount of (A) Realized Losses and paid to or retained by the Trustee (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xxiv) the Pass-Through Rate for each number and aggregate principal amounts of Mortgage Loans Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 days, (2) 60 days, (3) 90 days and (4) 120 days to include such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included Delinquent Mortgage Loans which are also in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding foreclosure or bankruptcy as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal amounts 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 were in bankruptcy proceeding; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding the such Distribution Date; (xivxvi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure as of the close of business on the last day of the calendar month preceding such Distribution Date; (xvii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xvxviii) whether a Trigger Event has occurred; (xix) with respect to each Class of the Class A, Class B and Class M 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; (xx) the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the preceding Due Period; (xxi) any amounts distributed as Excess Interest to the Class A, Class M or Class B Certificates; (xxii) 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 and of such amounts for each Class of Certificates, all such Mortgage Loans since the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Cut-off Date; (xvixxiii) the aggregate current and cumulative number and amount of (A) Payoffs prepayment penalties and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds the current and Insurance Proceeds, and (C) Realized Losses incurred cumulative amount of late payment fees received during the related Prepayment Period; (xviixxiv) the Prepayment Premiums collected by or paid by total number and principal balance of any Mortgage Loans that were repurchased during the Servicerscalendar 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; (xviiixxv) the percentage equal to aggregate amount of Subsequent Recoveries for such Distribution Date and the aggregate realized losses divided by amount of Subsequent Recoveries collected after the aggregate Scheduled Principal Balance Closing Date to such Distribution Date; (xxvi) the weighted average remaining term to maturity of the Mortgage Loans as of the Cut-off Date; (xix) first day of the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for calendar month preceding such Distribution Date; (xxixxvii) updated Mortgage Loan informationas of each Distribution Date, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentagesamount, if any, for such Distribution Date. (xxivto be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 5.05(l) and the aggregate shortfall, if any, allocated amount thereof to each Class of be paid to the Offered Certificates at the close of business on such Distribution Dateas described in Section 5.05(l) hereof; and (xxvxxviii) as of each Distribution Date, the Floating Rate Certificate Rate Carryover for each Class of Certificates applicable (other than the Class S and Class X Certificates) and the portion of such Floating Rate Certificate Carryover that is attributable to such Distribution Datethe fact that Applied Realized Loss Amounts are not allocated to the Class A Certificates. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. The Securities Administrator shall provide the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance If so requested in using the website can be obtained writing or as required by calling the Securities Administrator’s investor relations desk at (000) 000-0000. The Securities Administrator will also make a paper copy of the above statement available upon request. (c) Upon requestapplicable law, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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. (c) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of Class R Certificate with respect to the following matters: 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; (i) 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; (ii) The Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iii) 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; (iv) 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 the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans; (v) The amount and timing of any non-interest expenses of the REMICs; and (vi) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled required to rely on provide the information pursuant to clauses (i), (ii) and (iii) above if such information is provided to the Securities Administrator by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust Asset-Backed Certificates, Series TMTS 2005-6he)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate related amount of the Servicing Fees Fee paid as required under to or retained by 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 hereunderServicer; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Mortgage Loans; (ix) the amount of (A) Realized Losses and paid to or retained by the Trustee (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Mortgage Loans; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount with respect to each Class of (A) Payoffs 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 Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Floating Rate Certificate Carryover for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on the Class P Certificates[RESERVED]; (xx) the amount and purpose of any Subsequent Recoveries for such Distribution Datewithdrawal from the Collection Account pursuant to Section 3.08(a)(v); (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the close amount of business on such Distribution Dateany payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest"; and (xxvxxii) the Certificate Rate for as of each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing , the above statement 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 thereof to be paid to the Offered Certificates described in Section 4.04(k) hereof. The Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations Trustee's customer service desk at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the website are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall 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 available upon requestand 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 Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. (b) The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Trustee. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A) -- (D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

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 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 www.ctslink.com to each CertificateholderHolder of a Class of Certificates of the Trusx Xxxx, xxx Xxxvicer, the DepositorMaster Servicer, the Trustee Trustee, the NIMs Insurer, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee paid as required under to or retained by the Servicing Agreements and Servicer, the Trust Agreement amount of the Securities Administrator Fee paid to or retained by the Securities Administrator and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer, Master Servicer, Securities Administrator or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate; (ix) the amount of (A) Realized Losses and fees paid to or retained by the Servicers and paid to or retained by the Trustee (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Dateaggregate; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date, in the aggregate; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date, in the aggregate; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate; (xiv) whether a Stepdown Trigger Event has occurred and is in effect; (xv) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of preceding Due Period and since the Cut-off Date; (xixxvii) 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 distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xxxix) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the close amount of business on such Distribution Dateany payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest"; and (xxvxx) the Certificate Rate for as of each Class of Certificates applicable to such 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 thereof to be paid to the Offered Certificates described in Section 4.04(k) hereof. (b) The Securities Administrator’s responsibility for providing Administrator will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, the Trustee other parties to this Agreement and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Administrator shall provide the above statement any other interested parties via the Securities Administrator’s internet 's Internet website. The Securities Administrator's Internet website which can shall initially be located at xxx.xxxxxxx.xxx"www.ctslink.com". Assistance in using the website can be obtained by xxxxxxx xxx Xxxurities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitlxx xx xxxx x xaper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall 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 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’s investor relations desk at (000) 000-0000's internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also make a paper copy not be liable for the dissemination of the above statement available upon requestinformation in accordance with this Agreement. (c) Upon request, 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 Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect. The . (e) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors, Inc. Ownit 2005-1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (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 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 Class factor 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); (v) the amount of such distribution to Holders of each Class allocable to interest; (vi) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Derivative Administration Agreement; (vii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iiviii) the Available Distribution Amount Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the Principal Prepayment Amount for current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the Net Rate Cap; (iiiix) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 Certificate Principal Balance or Certificate Notional 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 each such Class of Certificates with respect to such Distribution Date; (xi) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date 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; (xii) the amount of Delinquency Advances included in the distribution on such Distribution Date and (including the general purpose of such Advances), the aggregate amount of Delinquency unreimbursed Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of at the close of business on the Determination Date immediately preceding such Distribution Date; (xii) , and the number and aggregate Scheduled Principal Balances general source 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 proceedingfunds for reimbursements; (xiii) the cumulative amount of Applied Realized Loss Amounts to date; (xiv) 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; (xv) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixvii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsfirst lien Mortgage Loans, and (C2) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the ServicersAdjustable Rate Mortgage Loans; (xviii) the percentage equal to Realized Losses during the aggregate realized losses divided by related Prepayment Period and the aggregate Scheduled Principal Balance cumulative Realized Losses through the end of the Mortgage Loans as of the Cut-off Datepreceding month; (xix) the amount distributed on the Class P Certificateswhether a Trigger Event exists; (xx) the amount of any Subsequent Recoveries for the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges; (xxi) updated Mortgage pool composition data including the following with respect to each Loan informationGroup: average loan balance, such as weighted average interest mortgage rate, and weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term;; and [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of what to provide] (xxii) the aggregate amount information about any additions of, substitutions for or removal of any Mortgage Loan that has been repurchased Loans from the Trust Fund; , and any changes in the underwriting, acquisition or selection criteria as to any Mortgage Loans added to the Trust Fund The Securities Administrator may make the foregoing Monthly Statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) theavailable each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.[___].com". Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (___) ___-____. 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, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution DateTrustee 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. [ ]/[ ]". Assistance in using the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (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 for each Class of Certificates applicable to such Distribution Date___-____. (b) The Securities Administrator’s 's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator 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. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicers, the Trustee Master Servicer, the Trustee, the Rating Agencies, the Cap Contract Counterparty, the Swap Counterparty and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission on behalf of the Issuing Entity, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 amount of the Servicing Fee paid to or retained by each Servicer and any amounts constituting reimbursement or indemnification 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 to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if anythe cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (x) the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (x) , in the Pass-Through Rate for each such Class of Certificates aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loans that become REO Properties during the preceding calendar month, the Scheduled number and aggregate Stated Principal Balance of the related such Mortgage Loan Loans as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiv) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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 the aggregate and for effect; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Accounts pursuant to Section 3.08(a)(viii); (xx) the amount of any Subsequent Recoveries for 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; (xxixxiv) updated the number of Mortgage Loan informationLoans 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 Due Period as weighted average interest rate, a result of such reductions in the aggregate and weighted average remaining termwith respect to the Group One Mortgage Loans and the Group Two Mortgage Loans; (xxiixxv) 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 with respect to each Class of Certificates at Certificates, the close amount of business 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 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 ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and (xxvxxxii) 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 Certificate Rate for each Class balances of Certificates applicable to such Distribution Dateany prefunding or revolving accounts, if applicable. (b) The Securities Administrator will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Cap Contract Counterparty, the Swap Counterparty, other parties to this Agreement and any other interested parties via the Securities Administrator’s 's Internet website. The Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator (Attention: Xxxxx Xxxxxxxxx-Xxxxxx, who may be reached directly at (000) 000-0000. Parties that are unable to use the 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 shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall 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 and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). The Securities Administrator's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, Servicers and, if applicable, the Servicers Depositor and the SellersSwap Counterparty, to the extent the Servicers, Depositor and Swap Counterparty are required to provide such information under this Agreement. The Securities Administrator shall provide the above statement via As a condition to access the Securities Administrator’s 's internet website which can be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling website, the Securities Administrator’s investor relations desk at (000) 000-0000Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will also make a paper copy not be liable for the dissemination of the above statement available upon requestinformation in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as are from time to time in effect. The . (d) Upon filing with the Internal Revenue Service, the Securities Administrator shall furnish to the Holders of the Class R Certificate each 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 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-He5)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates and (D) the Monthly Excess Interest, if any; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance or Certificate Notional Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses for the Mortgage Loans to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) the total number and principal balance of any real estate owned or REO Properties and the Mortgage Loans in the aggregate and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled Principal Balance scheduled principal balance of the Mortgage Loans that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the scheduled principal balances of all of the Mortgage Loans, as applicable as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on the Class P Certificatesaggregate 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 during the related Due Period; (xxi) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) the aggregate amount amount, if any, of any Mortgage Loan that has been repurchased from other fees or expenses accrued and paid, with an identification of the Trust Fundpayee and the general purpose of such fees; (xxiii) the, Senior Prepayment Percentages the amount of any Basis Risk Shortfalls and the Subordinate Percentages, if any, for amount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date.; (xxiv) amounts payable in respect of the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution DateSwap Agreement; and (xxv) whether the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Stepdown Date has occurred and the Depositor whether any Trigger Event or Sequential Trigger Event is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersin effect. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicers, the Cap Provider and the Swap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.10 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.10 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ar3)

Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Master Servicer or Servicer, as applicable, the Securities Administrator shall prepare and make available on its website located at xxx.xxxxxxxx.xxx/xxx to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorMaster Servicer, the Trustee Trustee, each Servicer, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfor each $1,000 principal amount of Certificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of prepayment penalties, if any; (ii) the Available 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 Certificates; (iv) the Class Certificate Principal Balance or Class Notional Amount of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Pool Stated Principal Balance for such Distribution Date as permitted hereunder; (vi) the Class Principal 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 amount on deposit in the Class 1XPre-IO and Class 2X-IO Components after giving effect to the distribution of principal Funding Account on such Distribution Date; (vi) the related amount of the Administrator Fee and Servicing Fees paid to or retained by the Securities Administrator or the Servicers; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to Servicing Advances for such Distribution Date and the Master Servicer or Securities Administrator with respect aggregate amount of Servicing Advances outstanding as of the last day of the calendar month preceding such Distribution Date and the aggregate amount of such Servicing Advances from the Closing Date to such Distribution Date; (x) the Passaggregate amount of reimbursement to the related Servicer of non-Through Rate for each such Class recoverable Advances previously made; (xi) the aggregate amount of Certificates 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; (xiii) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (xixiv) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 days, (2) 60 days, (3) 90 days, (4) 120 days and (5) 150 or more days, and (B) in foreclosure or bankruptcy and Delinquent (1) 30 days, (2) 60 days, (3) 9 days and (4) 120 or more days; (xv) the distribution on such Distribution Date number and the aggregate amount principal amounts of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding Mortgage Loans that were in bankruptcy as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xiixvi) the number and aggregate Scheduled Principal Balances principal amounts 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 were in foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceeding; (xiii) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding the such Distribution Date; (xivxvii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xvxviii) 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 aggregate Pre-Funding Account and for the Capitalized Interest Account; (xxi) 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; (xxii) 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; (xxiii) the aggregate amount number and Stated Principal Balance (as of Realized Losses incurred the immediately preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding calendar month Due Period and aggregate Realized Losses through such Distribution since the Cut-off Date; (xvixxiv) 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; (Axxv) Payoffs the current and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds cumulative number and Insurance Proceeds, amount of prepayment penalties and (C) Realized Losses incurred the current and cumulative amount of late payment fees received during the related Prepayment Period; (xviixxvi) the Prepayment Premiums collected by or paid by total number and principal balance of any Mortgage Loans that were repurchased during the Servicerscalendar 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; (xviiixxvii) the percentage equal to aggregate amount of Subsequent Recoveries for such Distribution Date and the aggregate realized losses divided by amount of Subsequent Recoveries collected after the aggregate Scheduled Principal Balance Closing Date to such Distribution Date; (xxviii) the weighted average remaining term to maturity of the Mortgage Loans as of the Cut-off Date; (xix) first day of the amount distributed on the Class P Certificates; (xx) the amount of any Subsequent Recoveries for calendar month preceding such Distribution Date; (xxixxix) updated Mortgage Loan information, such as weighted average interest rate, the amount and weighted average remaining termpurpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v); (xxiixxx) 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 payments to each Class of Certificates at that are treated as payments received in respect of a REMIC Regular Interest and the close amount of business on such any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; (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 (xxvxxxii) as of each Distribution Date, the Floating Rate Certificate Rate Carryover for each Class of Certificates applicable (other than the Interest Only Certificates and the Class N and Class X Certificates) and the portion of such Floating Rate Certificate Carryover that is attributable to such Distribution Datethe fact that Applied Realized Loss Amounts are not allocated to the Class A and Class R Certificates. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. 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 a paper copy of the above statement available upon request.[RESERVED]; (c) Upon requestIf so requested in writing or as required by applicable law, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Class R Certificate the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of Class R Certificate with respect to the following matters: 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; (i) 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; (ii) The Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iii) 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; (iv) 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 the REMICs with respect to such regular interests or bad debt deductions claimed with respect to the Mortgage Loans; (v) The amount and timing of any non-interest expenses of the REMICs; and (vi) Any taxes (including penalties and interest) imposed on the REMICs, 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 entitled required to rely on provide the information pursuant to clauses (i), (ii) and (iii) above if such information is provided to the Securities Administrator by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 5he)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 February 2005 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfall, if any, allocated to each Class of Certificates at Net WAC Rate; (xxv) the close of business Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(xii), and the balance of the Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; (xxviii) the amount deposited to the Interest Rate Cap Accounts on such Distribution Date (including a breakdown of amounts withdrawn in connection with such Distribution Date); (xxix) a list indicating those Designated Mortgage Loans as to which the WFBNA Servicing Transfer Date has occurred since the previous Distribution Date; and (xxvxxx) any remaining Designated Mortgage Loan for which the Certificate Rate for each Class of Certificates applicable to such Distribution Date. (b) WFBNA Servicing Transfer Date has not occurred. The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from each Servicer and the Master Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of Trustee may fully rely upon and shall have no liability with respect to information provided by each Servicer and the above statement available upon requestMaster Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Home Equity Asset Trust 2004-8)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of a Class of Certificates of the Trust Fund, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany 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 Available 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 Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance all of the Mortgage Loans and of the Mortgage Loans in each Loan Group for the following Distribution Date; (viiiv) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer; (vi) the Trustee Pass-Through Rate for each Class of Offered Certificates with respect to such Distribution Datethe current Accrual Period; (vii) any interest carryforward amount for each Class of Offered Certificates; (viii) [reserved]; (ix) if any, the amount of any Administrative Fees paid to Advances for each Loan Group included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Passcumulative amount of Applied Realized Loss Amounts to date and, in addition, if the Certificate Principal Balances of the Class M-1, Class M-2 and Class M-3 Certificates have all been reduced to zero, the cumulative amount of Applied Realized Loss Amounts allocated to each of the Class A-Through Rate for each such I Group, Class of Certificates with respect to such Distribution DateA-II Group and Class A-III Group; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans in the distribution on such Distribution Date each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 31 to 60 days, (2) 61 to 90 days, (3) 91 or more days and the aggregate amount of Delinquency Advances reported by the Servicers (4) in bankruptcy, and the Master Servicer(B) in foreclosure and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days, (3) 91 or more days and any other successor master servicer(4) in bankruptcy, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar monthmonth in each Loan Group, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxiii) in 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 for each Class the denominator of Certificates, which is the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixiv) the aggregate amount of any Mortgage Realized Losses for each Loan that has been repurchased from Group during the Trust Fund; (xxiii) the, Senior related Prepayment Percentages Period and the Subordinate Percentages, if any, cumulative Realized Losses for such Distribution Date. (xxiv) each Loan Group through the aggregate shortfall, if any, allocated to each Class end of Certificates at the close of business on such Distribution Datepreceding month; and (xxvxv) whether a Trigger Event exists. The Trustee may make the Certificate Rate for foregoing monthly statement (and, at its option, any additional files containing the same information in an alternative format) available each Class of Certificates applicable month to Certificateholders via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on-demand service may be accessed by calling (000) 000-0000. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (000) 000-0000. 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 Trustee may change the way monthly statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available and notify or send a paper copy of the above each statement available upon requestprovided pursuant to this Section 4.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to the Master Servicer and upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(vi) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Back Cert Ser 2000-2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor for 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, (C) 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 Available Distribution Amount and the Principal Prepayment Amount for amount of such Distribution Datedistribution to Holders of each Class allocable to interest; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (viiiv) the aggregate Scheduled 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; (viiiv) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Servicer for the Trustee related Due Period; (vi) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period; (vii) the cumulative amount of Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (viii) 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; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvx) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixi) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) numerator of which is the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled 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 Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixii) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixiii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust FundBasis Risk Shortfalls; (xxiiixiv) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, Cap Contracts; and (xv) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-Ar4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based solely on information provided by the Servicers Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Trustee shall prepare and make available on its website located at xxx.xxxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Pool Stated Principal Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the aggregate amount of the Servicing Fees Fee Rate paid as required under to or retained by the Servicing Agreements and Servicer, the Trust Agreement amount of the Trustee Fee Rate paid to or retained by the Trustee, and any other fees amounts constituting reimbursement or expenses paid out indemnification of the Available Distribution Amount for such Distribution Date as permitted hereunderServicer or Trustee; (vi) the Class Principal Balance of Pass-Through Rate for 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 to the distribution of principal on Certificates for such Distribution Date; (vii) the aggregate Scheduled Principal Balance amount of Advances included in the Mortgage Loans for the following distribution on such Distribution Date; (viii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the expenses aggregate and fees paid with respect to or retained by the Servicers Group One Mortgage Loans and paid to or retained by Group Two Mortgage Loans; (ix) the Trustee amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (ix) if any, in the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator aggregate and with respect to such Distribution Datethe Group One Mortgage Loans and Group Two Mortgage Loans; (x) the Pass-Through Rate for number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (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, in each such Class of Certificates with respect to such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xivxii) the total number and principal balance of any REO Properties (and market value, if available) 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; (xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the 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) in the aggregate and for with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution DateDate 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 aggregate amount number and Stated Principal Balance (as of (Athe preceding Distribution Date) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred of any Mortgage Loans which were purchased or repurchased during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Balance of the Mortgage Loans as of 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 distributed on 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 P Certificatesof 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-2 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 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; and (xxii) any Subsequent Recoveries for 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; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxiixxiii) the aggregate 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 Loan that has been repurchased from Loans during the Trust Fund; (xxiii) the, Senior Prepayment Percentages related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans 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 for each Class of Certificates applicable to such Distribution DateGroup Two Mortgage Loans. (b) The Securities Administrator’s responsibility for providing Trustee will make the Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, other parties to this Agreement and any other interested parties via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxxx.xxx." Parties that are unable to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above statement parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data provided to the CertificateholdersTrustee by the Servicer and information received by the Trustee from third parties, each Rating Agencyincluding the Swap Counterparty. In preparing or furnishing the foregoing information, the Trustee and shall be entitled to rely conclusively on the Depositor is limited to the availability, timeliness and accuracy of the information derived from or data provided to the Master ServicerTrustee by the Servicer or any other party 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 Servicers Trustee may require registration and the Sellersacceptance of a disclaimer. The Securities Administrator shall provide Trustee will not be liable for the above statement via the Securities Administrator’s internet website which can be located at xxx.xxxxxxx.xxx. Assistance dissemination of information 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 a paper copy of the above statement available upon requestaccordance with this Agreement. (c) Upon request, 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 Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), ) without regard to subclauses (A)-(D) thereof and (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (e) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and 119 shall respond promptly to written requests made not more frequently than quarterly by any Holder of a 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Master Servicer and the Trustee and each Rating Agency Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principalfor each Loan Group, separately identifying the aggregate amount of any the Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount Balances of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of Mortgage Loans in such interest accrued during the calendar month preceding the month of such Distribution DateLoan Group, and (B) the amount of interest from previous calendar months; first lien Mortgage Loans in such Loan Group, (vC) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements second lien Mortgage Loans in such Loan Group, and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder; (viD) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for number and aggregate Stated Principal Balances of the Mortgage Loans in each such Class Loan Group (A) Delinquent (exclusive of Certificates with respect Mortgage Loans in foreclosure and bankruptcy) (1) 31 to such Distribution Date; 60 days, (xi2) the amount of Delinquency Advances included 61 to 90 days and (3) 91 or more days, (B) in the distribution on such Distribution Date foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers delinquent (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days and (C) in bankruptcy and delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately 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; (xii) 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; (xiiixi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Datelast day of such Distribution Date 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; (xixxiv) the amount distributed on Realized Losses during the Class P Certificatesrelated Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxxv) whether a Trigger Event exists; and (xvi) the amount of any Subsequent Recoveries for such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) 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 distribution made on such Distribution Date; Date to the Holders of the Class P Certificates allocable to Prepayment Charges. The 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 Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (xxv312) 904-6709. Parxxxx xxxx xxx unable to use the Certificate Rate for each Class of Certificates applicable 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon request. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause provided pursuant to be furnished this Section 5.06 to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationRating Agency.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He10)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, each Servicer, the Depositor, the Trustee Credit Risk Manager and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 2005 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfall, if any, allocated to each Class of Certificates at the close of business on such Distribution Date; andNet WAC Rate; (xxv) the Certificate Rate for each Class Senior Enhancement Percentage; (xxvi) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(xii), and the balance of Certificates applicable to the Basis Risk Reserve Fund after all distributions have been made on such Distribution Date.; (bxxvii) the amount deposited to the Interest Rate Cap Accounts on such Distribution Date (including a breakdown of amounts withdrawn in connection with such Distribution Date); and (xxviii) with respect to all of the Mortgage Loans, in the aggregate, and, unless otherwise stated, the related Distribution Date, for each Servicer that is servicing any of such Mortgage Loans, the aggregate Stated Principal Balance of Mortgage Loans being serviced by such Servicer as of such Distribution Date. The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Home Equity Asset Trust 2005-2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorCertificate Insurer, the Trustee Trustee, the Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of the related distribution to Holders of each Class factor 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 interest 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 Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 Stated Principal Balances of the Available Distribution Amount for such Distribution Date as permitted hereunder; (vi) the Class Principal 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance all of the Mortgage Loans for the following Distribution Date; (viiivi) the related amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Master Servicer for the Trustee related Due Period; (vii) 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 Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for 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 such Class case as of Certificates with respect to the close of business on the last day of the calendar month preceding such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount stated Principal Balance of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsthe Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to denominator of which is the aggregate realized losses divided by the aggregate Scheduled Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixiv) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixv) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust Fundwhether a Trigger Event exists; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date. (xxivxvi) the aggregate shortfall, if any, allocated to each Class amount of Certificates at the close of business distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges; (xvii) the Certificate Insurer Premium Amount; and (xxvxviii) the 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 Reimbursement Amount. The 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 Rate for each Class of Certificates applicable Insurer via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.etrustee.net". Xxxxxxxxxx xx xxing the website can be obtained by calling the Trustee's customer service desk at (312) 904-7053. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Datedistributions more convenient or more accessible to the above parties. (b) The Securities Administrator’s Trustee's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asst Asset Backed Certs Ser 2003 He1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Depositor, the Trustee and each Rating Agency a statement based, in part, upon the Date based on information provided by the Servicers Servicer, the Trustee shall prepare and make available on its website located at xxx.xxxxxxx.xxx to each Holder of a Class of Certificates of the Trust Fund, the Servicer, the NIMs Insurer, the Rating Agencies and the Depositor a statement setting forth with respect to for the related distributionCertificates: (i) the Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of prepayment penalties, if any; (ii) the Available Distribution 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 Prepayment Amount 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; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance related amount of the Class 1A-2, Class 2A-2, Class 1X-PO and Class 2X-PO Components, and Servicing Fee paid to or retained by the Component Notional Amount of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid (A) Realized Losses and (B) Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for each such Class amount of Certificates (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xiv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date; (xv) in the aggregate and for whether a Trigger Event has occurred; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carryforward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carryforward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carryforward Amount for each such Class; (xvii) the Prepayment Premiums collected by or 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 by the Servicersfor each such Class and any remaining Interest Carryover Amount for each such Class; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans as of 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 distributed on of prepayment penalties received during the Class P Certificatesrelated Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date; (xx) the amount of any Subsequent Recoveries for such Distribution Date[Reserved]; (xxi) updated Mortgage Loan information, such as weighted average interest rate, the amount and weighted average remaining termpurpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v); (xxii) the aggregate amount of any Mortgage Loan payments to each Class of Certificates that has been repurchased from are treated as payments received in respect of a REMIC Regular Interest and the Trust Fundamount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; (xxiii) theas of each Distribution Date, Senior Prepayment Percentages and the Subordinate Percentagesamount, 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) be deposited in the Certificate Rate for each Class of Account pursuant to the Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Offered Certificates applicable to such Distribution Dateas described in Section 4.04(k) hereof. (b) The Securities Administrator’s responsibility for providing the above statement Servicer shall deliver to the Certificateholders, each Rating Agency, NIMs Insurer a copy of any report delivered by the Trustee and the Depositor is limited Servicer to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 a paper copy of the above statement available upon requestTrustee. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer the Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribtuion Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) with respect to each loan group, the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the Monthly Excess Interest with respect to the Certificates (if any) and (D) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the aggregate realized losses divided by percent equivalent of a fraction, the aggregate Scheduled Principal numerator of which is the Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer, and the master servicing fees, if any, received by the Master Servicer during the related Due Period; (xx) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan informationthe amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such as weighted average interest rate, and weighted average remaining termfees; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from Net WAC Rate Carryover Amount and the Trust Fundamount in the Net WAC Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxiii) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, for such Distribution Date.Cap Contract; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at loan group, whether the close of business on such Distribution DateStepdown Date has occurred and whether any Trigger Event is in effect; and (xxv) any legal proceedings pending against the Certificate Rate for each Class of Certificates applicable Sponsor, the Depositor or the Trustee, or their respective property, that is material to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited including proceedings known to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersbe contemplated by governmental authorities. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ap1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by 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; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfallNet WAC Rate; (xxv) the Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(xi), if any, allocated to each Class and the balance of Certificates at the close of business Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and (xxvxxviii) the Certificate amount on deposit in the Interest Rate for each Class Cap Account (including a breakdown of Certificates applicable to amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date. (b) ). The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2004-5)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorMaster Servicer, the Trustee Swap Provider and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the amount of such distribution to Holders of each Class factor 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); (iii) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Derivative Administration Agreement; (iv) 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 Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the Available Distribution Amount and the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiivi) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) Adjustable Rate Mortgage Loans, for the 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 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 to the distribution of principal on such following Distribution Date; (vii) the aggregate Scheduled Principal Balance related amount of the Mortgage Loans Servicing Fees paid to or retained by the Master Servicer for the following Distribution Daterelated Due Period; (viii) the amount Pass-Through Rate for each Class of the expenses Class A Certificates and fees paid to or retained by the Servicers and paid to or retained by the Trustee Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the Net Rate Cap; (ix) if any, the amount of any Administrative Fees paid to Advances included in the Master Servicer or Securities Administrator with respect to distribution on such Distribution Date; (x) the Pass-Through Rate for each such Class cumulative amount of Certificates with respect Applied Realized Loss Amounts to such Distribution Datedate; (xi) the amount number and aggregate Stated Principal Balance of Delinquency Advances included the Mortgage Loans in the distribution on such Distribution Date each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and the Master Servicer(3) 90 days or more Delinquent, the Trustee as successor master servicer (B) in foreclosure and any other successor master servicerdelinquent (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the Determination Date immediately 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; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxiii) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsfirst lien Mortgage Loans, and (C2 Adjustable Rate Mortgage Loans; (xv) the Realized Losses incurred during the related Prepayment PeriodPeriod and the cumulative Realized Losses through the end of the preceding month; (xvi) whether a Trigger Event exists; (xvii) the Prepayment Premiums collected by or paid by amount of any Net Swap Payment payable to the Servicers;Derivative Administrator, any Net Swap 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 (xviii) the percentage equal amount of the distribution made on such Distribution Date to the aggregate realized losses divided by the aggregate Scheduled Principal Balance Holders of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; Certificates allocable to Prepayment Charges. The Trustee may make the foregoing Monthly Statement (xxand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the amount of any Subsequent Recoveries for Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. 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 Trustee may change the way Monthly Statements are distributed in order to make such Distribution Date; (xxi) updated Mortgage Loan information, such as weighted average interest rate, and weighted average remaining term; (xxii) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities AdministratorTrustee’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. 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 Trustee will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by 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 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 Interests 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 Interests 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 Realized Losses 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 Securities Administrator information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ec1)

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 CertificateholderHolder of a Class of Certificates of the Trust Fund, the DepositorServicer, the Trustee Trustee, the Rating Agencies and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth for the Certificates 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 related distributionCommission 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 Class factor for amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificatesany Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein, (C) the Extra Principal Distribution Amount, if any, and (D) the aggregate amount of Prepayment Charges, if any; (ii) the Available 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 of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Amount Date and (ii) the Principal Prepayment Amount allocation of any Applied Realized Loss Amounts for such Distribution Date; (iiiv) the amount thereof allocable to principal, separately identifying the aggregate amount of any Pool Stated Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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 Balance for such Distribution Date, and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of Certificates, the Component Principal Balance amount of the Class 1A-2, Class 2A-2, Class 1X-PO Servicing Fee paid to or retained by the Servicer and Class 2X-PO Components, and the Component Notional Amount any amounts constituting reimbursement or indemnification of the Class 1X-IO and Class 2X-IO Components after giving effect to the distribution of principal on such Distribution DateServicer or Trustee; (vii) the aggregate Scheduled Principal Balance Pass-Through Rate for each Class of the Mortgage Loans Certificates for the following such Distribution Date; (viii) the amount of Advances included in the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to distribution on such Distribution Date; (ix) if any, the cumulative amount of any Administrative Fees paid (A) Realized Losses and (B) Applied Realized Loss Amounts to the Master Servicer or Securities Administrator with respect to such Distribution Datedate; (x) the Pass-Through Rate for each such Class amount of Certificates (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date; (xi) the amount number and aggregate principal amounts of Delinquency Advances included Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in the distribution on such Distribution Date foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and the aggregate amount of Delinquency Advances reported by the Servicers (3) 91 or more days, and the Master Servicer(B) in foreclosure and Delinquent (1) 31 to 60 days, the Trustee as successor master servicer (2) 61 to 90 days and any other successor master servicer(3) 91 or more days, if applicable) as outstanding in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) 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 Mortgaged Mortgage Loan that became an REO Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the last Business Day day of the calendar month preceding such Distribution Date and the Distribution Datedate of acquisition thereof; (xivxiii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date last day of the calendar month preceding such Distribution Date; (xiv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date; (xv) whether a Stepdown Trigger Event has occurred and is in the aggregate and for effect; (xvi) with respect to each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through any Interest Carry Forward Amount with respect to such Distribution Date; (xvi) the aggregate amount of (A) Payoffs Date for each such Class, any Interest Carry Forward Amount paid for each such Class and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Periodany remaining Interest Carry Forward Amount for each such Class; (xvii) the Prepayment Premiums collected by number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or paid by repurchased during the Servicerspreceding Due Period and since the Cut-off Date; (xviii) the percentage equal to 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 realized losses divided by the aggregate Scheduled Principal Balance of the such amounts for all such Mortgage Loans as of since the Cut-off Date; (xix) the amount distributed on and purpose of any withdrawal from the Class P CertificatesCollection Account pursuant to Section 3.08(a)(viii); (xx) the amount of any Subsequent Recoveries for 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; (xxixxiv) updated the number of Mortgage Loan informationLoans 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 Due Period as weighted average interest rate, and weighted average remaining terma result of such reductions; (xxiixxv) 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 with respect to each Class of Certificates at Certificates, the close amount of business 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 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 ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and (xxvxxxii) 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 Certificate Rate for each Class balances of Certificates applicable to such Distribution Dateany prefunding or revolving accounts, if applicable. (b) The Securities Administrator’s responsibility for providing Trustee will make the above statement Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, each Rating Agency, other parties to this Agreement and any other interested parties via the Trustee and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the SellersTrustee's Internet website. The Securities Administrator Trustee's Internet website shall provide the above statement via the Securities Administrator’s internet website which can initially be located at xxx.xxxxxxx.xxx"xxx.xxxxxxxx.xxx". Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations desk Trustee at (000) 000-0000. The Securities Administrator will also make Parties that are unable to use the 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 Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Trustee based on Mortgage Loan data and other information provided to the Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the foregoing information, the Trustee shall be entitled to rely conclusively on the accuracy of the above statement available information or data provided to the Trustee by the Servicer, Swap Counterparty or any other party and the Trustee shall be entitled to rely conclusively upon requestand 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 will not be liable for the dissemination of information in accordance with this Agreement. (c) Upon request, If so requested in writing within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall make available on its website or cause to be furnished to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as are from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Class R Certificate and the NIMs Insurer each Form 1066 and each Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of 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 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 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 the REMICs; and (vii) Any taxes (including penalties and interest) imposed on the REMICs, 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 information pursuant to clauses (i), (ii), (iii) and (iv) above shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 8.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-He2)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor Interest Accrual Period and general Distribution Dates for each Class of Certificates; (ii) the Available Distribution Amount and Pass-Through Rate for each Class of Certificates with respect to the Principal Prepayment Amount for such Distribution Datecurrent Accrual Period; (iii) with respect to each loan group, the amount thereof allocable to principal, separately identifying total cash flows received and the aggregate amount of any Principal Prepayments and Liquidation Proceeds included thereingeneral sources thereof; (iv) the amount of distributions the related distribution to the Holders of Certificates of each Class allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein, (C) the Monthly Excess Interest with respect to the Certificates (if any) and (D) the amount of interest from previous calendar monthsPrepayment Charges distributed to the Class P Certificates; (v) the aggregate amount distributed to Holders 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 each Class on such Distribution Date as permitted hereunderallocable to interest; (vi) the Class Certificate Principal Balance of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (vii) the aggregate amount of P&I Advances included in the distributions on 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 Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (xi) 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; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 such Distribution Date; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date; (xiixv) the number and aggregate Scheduled Principal Balances principal balance of any Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans as reported to in foreclosure) using the Securities Administrator by the applicable Servicer“OTS” method (1) one scheduled payment is delinquent, (i2) that two scheduled payments are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually (3) three scheduled payments are delinquent or 120 days or more contractually delinquent and (each to be calculated using the Mortgage Bankers Association (MBA4) method), (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced 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) two scheduled payments are delinquent, (C) three or more scheduled payments are delinquent and (ivD) as to which foreclosure proceedings have been commenced, and loss information for the related borrower is subject to a bankruptcy proceedingperiod; (xiiixvi) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to three month rolling average of the aggregate realized losses divided by percent equivalent of a fraction, the aggregate Scheduled Principal numerator of which is the Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off last day of such Distribution Date; (xix) the amount distributed on aggregate Servicing Fee received by the Class P CertificatesServicer, and the master servicing fees, if any, received by the Master Servicer during the related Due Period; (xx) the amount of any Subsequent Recoveries the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Sponsor for such Distribution Date; (xxi) updated Mortgage Loan informationthe amount, if any, of other fees or expenses accrued and paid, with an identification of the payee and the general purpose of such as weighted average interest rate, and weighted average remaining termfees; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from Basis Risk Shortfalls and the Trust Fundamount in the Basis Risk Shortfall Reserve Fund after all deposits and withdrawals on such Distribution Date; (xxiii) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, for such Distribution Date.Swap Agreement; (xxiv) the aggregate shortfall, if any, allocated with respect to each Class of Certificates at loan group, whether the close of business on such Distribution DateStepdown Date has occurred and whether any Trigger Event is in effect; and (xxv) any legal proceedings pending against the Certificate Rate for each Class of Certificates applicable Sponsor, the Depositor or the Trustee, or their respective property, that is material to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee and the Depositor is limited including proceedings known to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellersbe contemplated by governmental authorities. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Swap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He1)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (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 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 Class factor 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); (v) the amount of such distribution to Holders of each Class allocable to interest; (vi) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Derivative Administration Agreement; (vii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iiviii) the Available Distribution Amount Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the Principal Prepayment Amount for current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the Net Rate Cap; (iiiix) the amount thereof allocable to principal, separately identifying aggregate of the aggregate amount Stated Principal Balance of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of distributions to the Holders of Certificates of each Class allocable to interest, and the Certificate Rate applicable to each Class (separately identifying (A) all of the amount of such interest accrued during the calendar month preceding the month of such Distribution Date, Mortgage Loans and (B) the amount of interest from previous calendar months; (v) the 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 of each Class of CertificatesAdjustable Rate Mortgage Loans, 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 to the distribution of principal on such Distribution Date; (vii) the aggregate Scheduled Principal Balance of the Mortgage Loans for the following Distribution Date; (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 Certificate Principal Balance or Certificate Notional 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 each such Class of Certificates with respect to such Distribution Date; (xi) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date 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; (xii) the amount of Delinquency Advances included in the distribution on such Distribution Date and (including the general purpose of such Advances), the aggregate amount of Delinquency unreimbursed Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of at the close of business on the Determination Date immediately preceding such Distribution Date; (xii) , and the number and aggregate Scheduled Principal Balances general source 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 proceedingfunds for reimbursements; (xiii) the cumulative amount of Applied Realized Loss Amounts to date; (xiv) 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; (xv) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, any real estate owned or REO Properties as of the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixvii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate amount 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 and separately identifying such information for the (A1) Payoffs and Principal Prepayments made by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceedsfirst lien Mortgage Loans, and (C2) Realized Losses incurred during the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the ServicersAdjustable Rate Mortgage Loans; (xviii) the percentage equal to Realized Losses during the aggregate realized losses divided by related Prepayment Period and the aggregate Scheduled Principal Balance cumulative Realized Losses through the end of the Mortgage Loans as of the Cut-off Datepreceding month; (xix) the amount distributed on the Class P Certificateswhether a Trigger Event exists; (xx) the amount of any Subsequent Recoveries for the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges; (xxi) updated Mortgage pool composition data including the following with respect to each Loan informationGroup: average loan balance, such as weighted average interest mortgage rate, and weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term;; and [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of what to provide] (xxii) the aggregate amount information about any additions of, substitutions for or removal of any Mortgage Loan that has been repurchased Loans from the Trust Fund; , and any changes in the underwriting, acquisition or selection criteria as to any Mortgage Loans added to the Trust Fund The Securities Administrator may make the foregoing Monthly Statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) theavailable each month to Certificateholders via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "www.[___].com". Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (___) ___-____. 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, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution DateTrustee 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. [ ]/[ ]". Assistance in using the Trustee's internet website can be obtained by calling the Trustee's customer service desk at (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 for each Class of Certificates applicable to such Distribution Date_______. (b) The Securities Administrator’s 's responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.05 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement based on information provided by the Securities Administrator containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 6.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator 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. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator Trustee shall make available prepare and cause to be forwarded by first class mail to each Certificateholder, the Depositoreach Servicer, the Trustee Depositor and each Rating Agency Agency, a statement based, in part, upon based on the information provided by the Servicers each Servicer pursuant to Section 4.05 herein setting forth with respect to the related distribution: (i) the Class factor for each Class of Certificatesamount thereof allocable to principal, indicating the portion thereof attributable to Scheduled Payments and Principal Prepayments; (ii) the Available Distribution Amount and the Principal Prepayment Amount for amount thereof allocable to interest or any Carryforward Interest included in such Distribution Datedistribution; (iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments as between principal and Liquidation Proceeds included thereininterest; (iv) the amount of 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; (v) the 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 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 Certificates after giving effect to the distribution of principal on such Distribution Date; (viiv) the aggregate Scheduled Principal Aggregate Collateral Balance of and the Mortgage Loans Aggregate Collateral Group Balance for the following such Distribution Date; (viiivi) the Overcollateralization Amount for such Distribution Date; (vii) the amount of the expenses and fees paid to or retained by Servicing Fees, the Servicers and paid to or retained by Excess Servicing Fee, the Trustee Fee, the Credit Risk Manager Fee, the FSA Premium and any other mortgage insurance fees, if applicable, with respect to such Distribution Date; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xviii) the Pass-Through Rate for each such Class of LIBOR Certificates with respect to such Distribution DateDate and the Pass-Through Rate for each Class of Class A-IO Certificates; (xiix) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by outstanding as of the Servicers last day of the calendar month preceding such Distribution Date; (x) the number and aggregate principal amounts of Mortgage Loans which are delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days (to include such delinquent loans which are also in bankruptcy or foreclosure), for each Loan Group and for the Master ServicerMortgage Loans in the aggregate, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xi) the number and aggregate principal amounts of Mortgage Loans that were in foreclosure, for each Loan Group and for the Mortgage Loans in the aggregate, as of the close of business on the last day of the calendar month preceding such Distribution Date; (xii) the number and aggregate Scheduled Principal Balances principal amounts of Mortgage Loans as reported to the Securities Administrator by the applicable Servicerthat were in bankruptcy, (i) that are current, 30 days contractually delinquent, 60 days contractually delinquent, 90 days contractually delinquent or 120 days or more contractually delinquent (for each to be calculated using Loan Group and for the Mortgage Bankers Association (MBA) method)Loans in the aggregate, (ii) that have become REO property, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which of the related borrower is subject to a bankruptcy proceedingclose of business on the last day of the calendar month preceding such Distribution Date; (xiii) the number and aggregate principal amounts of Mortgage Loans with respect to any Mortgaged Property acquired on behalf which Prepayment Premiums were collected and the aggregate amount of Certificateholders through foreclosure or deed in lieu of foreclosure during such Prepayment Premiums; (xiv) the preceding calendar month, the Scheduled Principal Balance of the related Mortgage Loan as of the last Business Day of the calendar month preceding the Rolling Three Month Delinquency Rate for such Distribution Date; (xivxv) the total number and principal balance of any REO Properties (and market value, if available) ), for each Loan Group and for the Mortgage Loans in the aggregate, as of the close last day of business on the Determination Date calendar month preceding such Distribution Date; (xvxvi) in the aggregate total number and for each Class principal balance of Certificates, 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 through included in such Distribution Date; (xvi) the 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 related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the Servicersdistribution; (xviii) the percentage equal 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 July 2004 Distribution Date); (xix) the weighted average term to the aggregate realized losses divided by the aggregate Scheduled Principal Balance maturity of the Mortgage Loans as of the Cut-off Date; (xix) the amount distributed close of business on the Class P Certificateslast day of the calendar month preceding such Distribution Date; (xx) the amount portion of any Subsequent Recoveries distribution to the Class A Certificateholders constituting an Insured Payment for such Distribution Date; (xxi) updated Mortgage Loan information, the amount on deposit in the Capitalized Interest Account (including a breakdown of amounts released for the calendar month preceding such as weighted average interest rate, and weighted average remaining termDistribution Date); (xxii) the aggregate amount gross weighted average coupon of any the Mortgage Loan that has been repurchased from Loans as of the Trust Fundfirst date of the applicable period for such Distribution Date; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, for such Distribution Date.aggregate number of Mortgage Loans in the pool; (xxiv) the aggregate shortfallNet WAC Rate; (xxv) the Senior Enhancement Percentage; (xxvi) the Net Excess Spread; (xxvii) any amounts deposited in the Basis Risk Reserve Fund on such Distribution Date pursuant to Section 4.02(e)(ix), if any, allocated to each Class and the balance of Certificates at the close of business Basis Risk Reserve Fund after all distributions have been made on such Distribution Date; and (xxvxxviii) the Certificate amount on deposit in the Interest Rate for each Class Cap Account (including a breakdown of Certificates applicable to amounts withdrawn in connection with such Distribution Date and the Target Amount for the preceding Distribution Date. (b) ). The Securities AdministratorTrustee’s responsibility for providing disbursing the above statement information to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master each Servicer. On each Distribution Date, the Servicers 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 SellersTrustee 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 shall provide Trustee will also make the above statement monthly statements to Certificateholders available each month to each party referred to in this Section 4.04(a) via the Securities AdministratorTrustee’s internet website which can be located at xxx.xxxxxxx.xxxwebsite. Assistance in using the The Trustee’s website can be obtained by calling accessed at xxxx://xxx.xxxxxx.xxx/abs or at such other site as the Securities Administrator’s investor relations desk at (000) 000-0000Trustee may designate from time to time. The Securities Administrator will also make a paper copy of the above statement available Trustee may fully rely upon requestand shall have no liability with respect to information provided by each Servicer. (cb) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator Trustee shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(vii) of this Section 4.02 4.04 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in effect. The Securities Administrator shall be entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such information.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2004-3.)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the DepositorTrustee, the Trustee Master Servicer and each Rating Agency the Depositor a statement based, in part, upon the information provided by the Servicers setting forth with respect to for the related distributionCertificates: (i) the Class factor applicable accrual periods for each Class of Certificatescalculating distributions and general distribution dates; (ii) the Available Distribution Amount total cash flows received and the Principal Prepayment Amount for such Distribution Dategeneral sources thereof; (iii) the amount thereof allocable to principalamount, separately identifying if any, of fees or expenses accrued and paid, with an identification of the aggregate payee and the general purpose of such fees including the related amount of any Principal Prepayments and Liquidation Proceeds included thereinthe Servicing Fees paid to or retained by the related Servicer or the Company for the related Due Period; (iv) the amount of distributions the related distribution to the Holders of the Class A, Class M and Class B Certificates of each Class (by Class) allocable to interestprincipal, and the Certificate Rate applicable to each Class (separately identifying (A) the aggregate amount of such interest accrued during the calendar month preceding the month of such Distribution Dateany Principal Prepayments included therein, and (B) the amount aggregate of interest from previous calendar monthsall scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (v) the aggregate amount of the Servicing Fees paid as required under the Servicing Agreements such distribution to Holders of each Class of Class A, Class M and the Trust Agreement and any other fees or expenses paid out of the Available Distribution Amount for such Distribution Date as permitted hereunder;Class B Certificates allocable to interest (vi) the Class Principal Balance amount of each Class of Certificates, the Component Principal Balance distribution made on such Distribution Date to the Holders 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 P Certificates allocable to the distribution of principal on such Distribution Date;Prepayment Charges (vii) the aggregate Scheduled Principal Balance Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of the Mortgage Loans for the following Distribution DateCertificates (if any); (viii) the amount of the expenses and fees paid to or retained by the Servicers and paid to or retained by the Trustee with respect to such Distribution Date; (ix) 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 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 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; (xi) the amount number and aggregate Stated Principal Balance of Delinquency Advances included the Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy and those Liquidated Mortgage Loans as of the distribution on such Distribution Date end of a Prepayment Period) (1) 30 days Delinquent, (2) 60 days Delinquent and the aggregate amount of Delinquency Advances reported by the Servicers (3) 90 days or more Delinquent, (B) in foreclosure and the Master Servicerdelinquent (1) 30 days Delinquent, the Trustee as successor master servicer (2) 60 days Delinquent and any other successor master servicer(3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, if applicable(2) as outstanding 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the Determination Date immediately last day of the calendar month preceding such Distribution Date; (xii) the number and amount of aggregate Scheduled Principal Balances Advances included in the distribution on such Distribution Date (including the general purpose 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) methodsuch Advances), (ii) that have become REO propertythe aggregate amount of unreimbursed Advances as of the end of the Due Period, (iii) as to which foreclosure proceedings have been commenced and (iv) as to which the related borrower is subject to a bankruptcy proceedinggeneral 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled aggregate Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) Loans as of the close of business on the Determination Date preceding such Distribution Date; (xvxvii) unless otherwise set forth in the aggregate and for each Class Form 10-D relating to such distribution date, material breaches of Certificates, pool asset representation or warranties or transaction covenants which have been reported to the aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvi) the 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 securities administrator in accordance with this Agremeetn or the related Prepayment Period; (xvii) the Prepayment Premiums collected by or paid by the ServicersServicing Agreement; (xviii) the percentage equal to total number and principal balance of any real estate owned or REO Properties as of the end of the related Due Period; (xix) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate realized losses divided by the aggregate Scheduled 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 Cut-off Date; (xix) end of the amount distributed on the Class P CertificatesPrepayment Period; (xx) the amount Realized Losses as of any Subsequent Recoveries for the close of business on the last day of the calendar month preceding such Distribution DateDate and the cumulative Realized Losses through the end of the preceding month; (xxi) whether a Trigger Event exists; (xxii) information on loss and delinquency used for determining early amortization, liquidation, stepdowns or other performance triggers and whether the trigger was met; (xxiii) the amount of the Prepayment Charges remitted by the Servicers and the amount on deposit in the Reserve Fund; and (xxiv) updated Mortgage Loan information, such as pool composition data including the following: weighted average interest rate, mortgage rate and weighted average remaining term; . The Securities Administrator may make the foregoing Monthly Statement (xxiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders via the aggregate amount of any Mortgage Loan Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “www.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (300) 000-0000. Xarties that has been repurchased from are unable to use the Trust Fund; (xxiii) the, Senior Prepayment Percentages 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 Subordinate Percentages, if any, for way Monthly Statements are distributed in order to make such Distribution Date. (xxiv) distributions more convenient or more accessible to 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 for each Class of Certificates applicable to such Distribution Dateabove parties. (b) The Securities Administrator’s responsibility for providing making the above statement information available to the Certificateholders, each Rating Agency, the Trustee and the Depositor Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers Company and the Sellers. 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) 000-0000Servicers. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 6.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished furnish upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iiia)(iv) and (a)(viia)(v) of this Section 4.02 6.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 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. The . (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 Interests 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 Interests 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 Interests 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 Realized Losses 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 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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 10.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Trust Administrator shall make available to each Certificateholder, the DepositorServicer, the Trustee Master Servicer, the Trustee, the Depositor and each Rating Agency a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distribution: (i) the Class factor for amount of the distribution made on such Distribution Date to the Holders of each Class of CertificatesCertificates allocable to principal, separately identified, and the amount of the distribution made on such Distribution Date to the Holders of the Class [__] Certificates allocable to Prepayment Charges; (ii) the Available amount of the distribution made on such Distribution Amount Date to the Holders of each Class of Certificates allocable to interest, separately identified; (iii) the Net Monthly Excess Cashflow and the Principal Prepayment Amount Credit Enhancement Percentage for such Distribution Date; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount fees and expenses of distributions to the Holders of Certificates of each Class allocable to interest, trust accrued 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 paid on such Distribution Date, Date and (B) the amount of interest from previous calendar monthsto whom such fees and expenses were paid; (v) the 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 P&I Advances for such Distribution Date as permitted hereunder(including the general purpose of such P&I Advances); (vi) the Class Principal Balance of each Class of Certificates, the Component aggregate Principal Balance of the Class 1A-2, Class 2A-2, Class 1X-PO Mortgage Loans and Class 2X-PO Components, and the Component Notional Amount any REO Properties as of the Class 1X-IO and Class 2X-IO Components after giving effect to end of the distribution of principal on such Distribution Daterelated Due Period; (vii) the number, aggregate Scheduled Principal Balance Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans for as of the following Distribution related Due Date; (viii) the amount number and aggregate unpaid Principal Balance of Mortgage Loans in respect of which (a) one monthly payment is delinquent, (b) two monthly payments are delinquent, (c) three monthly payments are delinquent and (d) foreclosure proceedings have begun, in each case, as of the expenses last day of the calendar month preceding the related Distribution Date and fees paid to or retained by in accordance with the Servicers and paid to or retained by the Trustee with respect to such Distribution DateOTS method of calculating delinquencies; (ix) if any, the amount total number and cumulative principal balance of any Administrative Fees paid to all REO Properties as of the Master Servicer or Securities Administrator with respect to such close of business on the last day of the calendar month preceding the related Distribution Date; (x) the Pass-Through Rate for each such Class aggregate amount of Certificates with respect to such Distribution DatePrincipal Prepayments made during the related Prepayment Period; (xi) the amount of Delinquency Advances included in the distribution on such Distribution Date and the aggregate amount of Delinquency Advances reported by the Servicers (and the Master Servicer, the Trustee as successor master servicer and any other successor master servicer, if applicable) as outstanding as of the close of business on the Determination Date immediately preceding such Distribution DatePercentage; (xii) 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 Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure during the preceding calendar month, the 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 principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xv) in the aggregate and for each Class of Certificates, the aggregate amount of Realized Losses incurred during the preceding calendar month and related Prepayment Period, the aggregate amount of Realized Losses through incurred since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period; (xiii) the aggregate amount of extraordinary trust fund expenses withdrawn from the Certificate Account for such Distribution Date; (xiv) the Certificate Principal Balance of each Class of Certificates, before and after giving effect to the distributions, and allocations of Realized Losses, made on such Distribution Date; (xv) the Current Interest in respect of the Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Certificates on such Distribution Date; (xvi) the aggregate amount of (A) Payoffs and Principal Prepayments made any Prepayment Interest Shortfall for such Distribution Date, to the extent not covered by Xxxxxxxxxx, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during payments of Compensating Interest by the related Prepayment PeriodServicer or the Master Servicer; (xvii) the Prepayment Premiums collected by amount of the Servicing Fees paid to or paid retained by the ServicersServicer or any subservicer (with respect to the Subservicers, in the aggregate) with respect to such Distribution Date; (xviii) the percentage equal amount of the Master Servicing Fees to the aggregate realized losses divided be paid to or retained by the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Master Servicer with respect to such Distribution Date; (xix) the amount distributed on of the Class P Certificates; (xx) Custodial Fee, if any, to be paid or retained by the amount of any Subsequent Recoveries for Trust Administrator with respect to such Distribution Date; (xx) whether the Stepdown Date or a Trigger Event has occurred; (xxi) updated Mortgage Loan information, such as weighted average interest rate, the total cashflows received and weighted average remaining termthe general sources thereof; (xxii) the aggregate amount of any Mortgage Loan that has been repurchased from respective Pass-Through Rates applicable to the Trust Fund; (xxiii) the, Senior Prepayment Percentages and the Subordinate Percentages, if any, Certificates for such Distribution Date. (xxiv) Date and the aggregate shortfall, if any, allocated Pass-Through Rate applicable to each Class of the Certificates at for the close of business on such immediately succeeding Distribution Date; and (xxvxxiii) the Certificate Rate applicable Record Dates, Interest Accrual Periods and Determination Dates for each Class of Certificates applicable to calculating distributions for such Distribution Date. (b) The Securities Trust Administrator’s responsibility for providing the above statement to the Certificateholders, each Rating Agency, the Trustee Servicer, the Master Servicer, the Originator and the Depositor is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer, the Servicers and the Sellers. The Securities Trust Administrator shall provide will make the above statement available via the Securities Trust Administrator’s internet website. The Trust Administrator’s website which can will initially be located at xxx.xxxxxxx.xxx. Assistance xxxx://xxx.[ ].com and assistance in using the website can be obtained by calling the Securities Trust Administrator’s investor relations customer service desk at (000) 000-0000[ ]. The Securities Administrator will also make Parties that are unable to use the above distribution method are entitled to have a paper copy of mailed to them via first class mail by calling the customer service desk and indicating such. The Trust Administrator shall have the right to change the manner in which the above statement available is distributed in order to make such distribution more convenient and/or more accessible, and the Trust Administrator shall provide timely and adequate notification to the Certificateholders and the parties hereto regarding any such changes. The Trust Administrator shall also be entitled to rely on, but shall not be responsible for the content or accuracy of, any information provided by the Servicer for purposes of preparing the above 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). Upon written request from any Certificateholder, the Trust Administrator shall provide the information provided for in Sections 4.03(d) to such Certificateholder, at the expense of the requesting Certificateholder. The Trust Administrator’s responsibility for providing the information provided for in Sections 4.03(d) to the Certificateholders is limited to the availability and timeliness of the information provided by the Servicer. The Trust Administrator shall provide the information provided for in Sections 4.03(d) in the same format as received from the Servicer upon requestrequest by the Certificateholders. The Trust Administrator shall have no duty or obligation to monitor, review or take any action regarding such information received pursuant to Section 4.03(d) other than forwarding copies to Certificateholders. The Trust Administrator shall have no liability for the accuracy, completeness or otherwise for such information. (c) Upon request, within a reasonable period of time after the end of each calendar year, the Securities Trust Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 4.03 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Trust Administrator pursuant to any requirements of the Code as are from time to time in effect. (d) Not later than the Reporting Date, the Servicer shall furnish to the Trust Administrator and the Master Servicer a monthly remittance advice statement (in a format mutually agreed upon by the Servicer and the Trust Administrator) containing such information as shall be reasonably requested by the Trust Administrator to provide the reports required by Section 4.03(a) as to the accompanying remittance and the period ending on the close of business on the last Business Day of the immediately preceding month (the “Servicer Remittance Report”). The Securities Servicer shall furnish to the Trust Administrator an individual loan accounting report, as of the last Business Day of each month, to document Mortgage Loan payment activity on an individual Mortgage Loan basis. With respect to each month, the corresponding individual loan accounting report (in electronic format) shall be entitled received by the Trust Administrator no later than the Reporting Date, which report shall contain the following: (i) with respect to rely on information provided by third parties for purposes of preparing each Scheduled Payment, the foregoing report, but shall not be responsible for the accuracy amount of such informationremittance allocable to principal (including a separate breakdown of any Principal Prepayment, including the date of such prepayment, and any Prepayment Premiums, along with a detailed report of interest on principal prepayment amounts remitted in accordance with Section 3.25); (ii) with respect to each Scheduled Payment, the amount of such remittance allocable to interest; (iii) the amount of servicing compensation received by the Servicer during the prior distribution period; (iv) the individual and aggregate Stated Principal Balance of the Mortgage Loans; (v) the aggregate of any expenses reimbursed to the Servicer during the prior distribution period pursuant to Section 3.11; (vi) the number and aggregate outstanding principal balances of Mortgage Loans (not including Liquidated Mortgage Loans as of the end of the Prepayment Period) (a) delinquent (1) 31 to 60 days, (2) 61 to 90 days, or (3) 91 days or more; (b) as to which foreclosure has commenced; and (c) as to which REO Property has been acquired; (vii) each Mortgage Loan which has been altered, modified or varied during such month, and the reason for such modification (i.e., extension of maturity date, Mortgage Interest Rate); (viii) with respect to each Mortgage Loan, the amount of any Realized Losses for such Mortgage Loan; and (ix) any other information reasonably required by the Trust Administrator to enable it to prepare the monthly statement referred to in Section 4.03(a).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (SunTrust Mortgage Securitization, LLC)

Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Securities Administrator shall prepare and make available to each CertificateholderHolder of Certificates, the Depositor, Depositor and the Trustee and each Rating Agency Credit Risk Manager via its website a statement based, in part, upon the information provided by the Servicers setting forth with respect to the related distributionfollowing information for the Certificates: (i) the Class factor for 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, (C) 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 Available Distribution Amount and the Principal Prepayment Amount for amount of such Distribution Datedistribution to Holders of each Class allocable to interest; (iii) the amount thereof allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein; (iv) the amount of 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; (v) the 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 of each Class of Certificates, the Component Principal Balance of the Class 1A-2if applicable, 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 the distribution of all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Realized Losses for such Distribution Date; (viiiv) the aggregate Scheduled 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; (viiiv) the amount of the expenses and fees Servicing Fees paid to or retained by the Servicers and paid to or retained by Servicer for the Trustee with respect to such Distribution Daterelated Due Period; (ix) if any, the amount of any Administrative Fees paid to the Master Servicer or Securities Administrator with respect to such Distribution Date; (xvi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Datethe current Accrual Period; (xivii) the cumulative amount of Delinquency Advances included Realized Losses to date and, in addition, if the Certificate Principal Balance of any Class of Certificates have been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Class of Certificates; (viii) the number and aggregate principal amounts of Mortgage Loans in each Loan Group and the Mortgage Loans in the distribution on such Distribution Date aggregate, (A) Delinquent (exclusive of Mortgage Loans in foreclosure and the aggregate amount of Delinquency Advances reported by the Servicers bankruptcy) (1) 31 to 60 days, (2) 61 to 90 days and the Master Servicer(3) 91 or more days, the Trustee as successor master servicer (B) in foreclosure and any other successor master servicerdelinquent (1) 31 to 60 days, if applicable(2) as outstanding 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 Determination Date immediately last day of the calendar month preceding such Distribution Date; for avoidance of doubt, the Securities Administrator will use the OTS Method for calculating delinquencies; (xii) 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; (xiiiix) with respect to any Mortgaged Property acquired on behalf of Certificateholders through foreclosure or deed in lieu of foreclosure Mortgage Loan that was liquidated during the preceding calendar month, the Scheduled loan number and the Stated Principal Balance of the related of, and Realized Loss on, such Mortgage Loan as of the last Business Day of the calendar month preceding the Distribution Date; (xiv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date; (xvx) 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 and for each Class as of Certificates, the aggregate amount close of Realized Losses incurred during business on the Determination Date preceding calendar month and aggregate Realized Losses through such Distribution Date; (xvixi) the aggregate amount three month rolling average of (A) Payoffs and Principal Prepayments made by Xxxxxxxxxxthe percent equivalent of a fraction, (B) Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds, and (C) Realized Losses incurred during the related Prepayment Period; (xvii) numerator of which is the Prepayment Premiums collected by or paid by the Servicers; (xviii) the percentage equal to the aggregate realized losses divided by the aggregate Scheduled Principal Aggregate Loan Group Balance of the Mortgage Loans in a Loan Group that are sixty (60) days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Aggregate Loan Group Balance of all of the Mortgage Loans in such Loan Group as of the Cut-off Date; (xix) the amount distributed on the Class P Certificates; (xx) the amount last day of any Subsequent Recoveries for such Distribution Date; (xxixii) updated Mortgage Loan information, such as weighted average interest rate, the Realized Losses during the related Prepayment Period and weighted average remaining termthe cumulative Realized Losses through the end of the preceding month; (xxiixiii) the aggregate amount of any Mortgage Loan that has been repurchased from the Trust FundBasis Risk Shortfalls; (xxiiixiv) the, Senior Prepayment Percentages and amounts payable in respect of the Subordinate Percentages, if any, Cap Contract; and (xv) the amount of the Credit Risk Management Fees paid to the Credit Risk Manager and/or the Seller 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 for each Class of Certificates applicable to such Distribution Date. (b) The Securities Administrator’s responsibility for providing the above statement to the 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 Servicers and the Sellers. The Securities Administrator shall provide may make the above 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 which can shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s investor relations customer service desk at (000) 000-0000. 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 may change the way monthly statements are distributed in order to make such distributions more convenient or more accessible to the above parties. The Securities Administrator shall 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 such 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). (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 provided by the Servicer and the Cap Provider. The Securities Administrator will also make available a paper copy of the above each statement available upon requestprovided pursuant to this Section 5.06 to each Rating Agency. (c) Upon request, within Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished upon written request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii), (a)(iii) and (a)(viia)(ii) of this Section 4.02 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect. The . (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 entitled to rely on information provided by third parties for purposes of preparing the foregoing report, but shall not be responsible for the accuracy of such informationDepositor pursuant to Section 9.13.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp, Alternative Loan Trust, Series 2005-Ar6)

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