Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He3), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He5), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He6)

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-25cb), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc4), Pooling and Servicing Agreement (Alternative Loan Trust 2006-29t1)

Appears in 2 contracts

Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)

Appears in 2 contracts

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Popular Abs, Inc.), Pooling and Servicing Agreement (Popular Abs, Inc.)

Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days 1122(d)(2)(vii) specified in the transaction agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reports to investors, including those to be 1122(d)(3)(i) filed W-2 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the ~~1122(d)(3)(i~~Servicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan 1122(d)(4)(i) documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ---------------- W-3 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. --------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. --------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. --------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed 1122(d)(4)(viii) temporary (e.g., illness or unemployment). --------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. --------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the 1122(d)(4)(x) obligor's --------------- ----------------

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J4), Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-J4)

Securities Exchange Act. Unissued checks are safeguarded so as to ~~prevent unauthorized~~ X 1122(d)(2)(vi) prevent unauthorized access. ~~-----------------------------------------------------------------------------------------------------------------~~ ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Reconciliations are prepared on a monthly X X X basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ INVESTOR REMITTANCES AND REPORTING ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(3)(i) Reports to investors, including those to be X X X filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of ~~mortgage loans~~ Pool Assets serviced by the ~~1122(d)(3)(i~~Servicer. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Amounts due to investors are allocated and X X X remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Disbursements made to an investor are posted X X X within two business days to the Servicer's investor records, or such other number of 1122(d)(3)(iii) days specified in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Amounts remitted to investors per the X X X investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) statements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ POOL ASSET ADMINISTRATION ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(i) Collateral or security on pool assets is X X maintained as required by the transaction agreements or related pool asset documents. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(ii) Pool assets and related documents are X X safeguarded as required by the transaction agreements ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(iii) Any additions, removals or substitutions to X X X the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(iv) Payments on pool assets, including any X payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ The Servicer's records regarding the pool X assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Changes with respect to the terms or status X X of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements 1122(d)(4)(vi) and related pool asset documents. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Loss mitigation or recovery actions (e.g., X X forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Records documenting collection efforts are X maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(ix) Adjustments to interest rates or rates of X X return for pool assets with variable rates are computed based on the related pool asset documents. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ 1122(d)(4)(x) Regarding any funds held in trust for an X obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Payments made on behalf of an obligor (such X as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Any late payment penalties in connection with X any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Disbursements made on behalf of an obligor X are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Delinquencies, charge-offs and uncollectible X X accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ Any external enhancement or other support, X identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. ----------------- ----------------------------------------------- ---------- -------- --------- -------- ------------ EXHIBIT O FORM 10-D, FORM 8-K AND FORM 10-K REPORTING RESPONSIBILITY As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the Trustee pursuant to Section 3.25(a)(iv). If the Trustee is indicated below as to any item, then the Trustee is primarily responsible for obtaining that information. Under Item 1 of Form 10-D: a) items marked "6.07 statement" are required to be included in the periodic Distribution Date statement under Section 6.07, provided by the Trustee based on information received from the Master Servicer; and b) items marked "Form 10-D report" are required to be in the Form 10-D report but not the 6.07 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)

Securities Exchange Act. L-2 Unissued checks are X safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(2)(vii) Reconciliations are X X X X prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- INVESTOR REMITTANCES AND REPORTING --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(3)(i) Reports to investors, X X X including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of ~~mortgage loans~~ Pool Assets serviced by the ~~1122(d)(3)(i~~Servicer. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- L-3 Amounts due to investors X X X X are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the 1122(d)(3)(ii) transaction agreements. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- Disbursements made to an X X X X investor are posted within two business days to the Servicer's investor records, or such other number of days specified in 1122(d)(3)(iii) the transaction agreements. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(3)(iv) Amounts remitted to X X X X investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- POOL ASSET ADMINISTRATION --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(4)(i) Collateral or security on X X pool assets is maintained as required by the transaction agreements or related pool asset documents. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(4)(ii) Pool assets and related X X documents are safeguarded as required by the transaction agreements --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(4)(iii) Any additions, removals or X X substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- L-4 1122(d)(4)(iv) Payments on pool assets, X including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- The Servicer's records X regarding the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- Changes with respect to the X terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- Loss mitigation or recovery X actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. --------------------- ----------------------------- ------------ ----------- ---------- ------------ ---------- -------- -------- 1122(d)(4)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MortgageIT Securities Corp.), Pooling and Servicing Agreement (MortgageIT Securities Corp.)

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)

Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ X --------------------------- ----------- Reconciliations are prepared on a monthly basis for all asset-backed securities related X bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the transaction 1122(d)(2)(vii) agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------------------- ----------- 3-1 APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ------------------------------------------------------------------------------------------------------------------------ ----------- Reference Criteria --------------------------- -------------------------------------------------------------------------------------------- ----------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ --------------------------- ----------- Reports to investors, including those to be filed with the Commission, are maintained X in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total 1122(d)(3)(i) unpaid X principal balance and number of mortgage loans serviced by the ~~1122(d)(3)(i)~~Servicer. --------------------------- ----------- Amounts due to investors are allocated and remitted in accordance with timeframes, X 1122(d)(3)(ii) distribution priority and other terms set forth in the transaction agreements. --------------------------- ----------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. --------------------------- ----------- Amounts remitted to investors per the investor reports agree with cancelled checks, or X 1122(d)(3)(iv) other form of payment, or custodial bank statements. --------------------------- ----------- Pool Asset Administration --------------------------- ----------- Collateral or security on mortgage loans is maintained as required by the transaction X 1122(d)(4)(i) agreements or related mortgage loan documents. --------------------------- ----------- Mortgage loan and related documents are safeguarded as required by the transaction X 1122(d)(4)(ii) agreements --------------------------- ----------- Any additions, removals or substitutions to the asset pool are made, reviewed and X approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. --------------------------- ----------- Payments on mortgage loans, including any payoffs, made in accordance with the X related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or 1122(d)(4)(iv) other items (e.g., escrow) in accordance with the related mortgage loan documents. --------------------------- ----------- The Servicer's records regarding the mortgage loans agree with the Servicer's records X 1122(d)(4)(v) with respect to an obligor's unpaid principal balance. --------------------------- ----------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan X modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset 1122(d)(4)(vi) documents. --------------------------- ----------- Loss mitigation or recovery actions (e.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-19)

Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days 1122(d)(2)(vii) specified in the transaction agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reports to investors, including those to be 1122(d)(3)(i) filed --------------- ---------------- W-2 Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the ~~1122(d)(3)(i~~Servicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan 1122(d)(4)(i) documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ---------------- W-3 Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. --------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. --------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. --------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed 1122(d)(4)(viii)temporary (e.g., illness or unemployment). --------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. --------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the 1122(d)(4)(x) obligor's --------------- ---------------- W-4 Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. --------------- ---------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. --------------- ---------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. --------------- ---------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days 1122(d)(4)(xiii)specified in the transaction agreements. --------------- ---------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. --------------- ---------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ W-5 [NAME OF MASTER SERVICER] [NAME OF TRUSTEE] [NAME OF CO-TRUSTEE] [NAME OF SUBSERVICER]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-7cb)

Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ~~-----------------------------------------------------------------------------------------------------------------~~ -------------------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- INVESTOR REMITTANCES AND REPORTING -------------------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number 1122(d)(3)(i) of mortgage loans serviced by the ~~1122(d)(3)(i~~Servicer. -------------------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial 1122(d)(3)(iv) bank statements. -------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------- REG AB SERVICING CRITERIA APPLICABLE INAPPLICABLE REFERENCE SERVICING CRITERIA SERVICING CRITERIA -------------------------------------------------------------------------------------------------------------------------------- POOL ASSET ADMINISTRATION -------------------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. -------------------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements -------------------------------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related mortgage loan documents. -------------------------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. -------------------------------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. -------------------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness 1122(d)(4)(viii) or unemployment). -------------------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. -------------------------------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number 1122(d)(4)(x) of days specified in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. -------------------------------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. -------------------------------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is 1122(d)(4)(xv) maintained as set forth in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- EXHIBIT I SARBANES CERTIFICATION Re: The [ ] agreement dated as of [ ], 200[ ] (the "Agreement"), among [IDENTIFY PARTIES] I, ________________________________, the _______________________ of [Name of Servicer] (the "Servicer"), certify to [the Purchaser], [the Depositor], and the [Master Servicer] [Securities Administrator] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that: (1) I have reviewed the servicer compliance statement of the Servicer provided in accordance with Item 1123 of Regulation AB (the "Compliance Statement"), the report on assessment of the Servicer's compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the "Servicing Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange Act") and Item 1122 of Regulation AB (the "Servicing Assessment"), the registered public accounting firm's attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the "Attestation Report"), and all servicing reports, officer's certificates and other information relating to the servicing of the Mortgage Loans by the Servicer during 200[ ] that were delivered by the Servicer to the [Depositor] [Master Servicer] [Securities Administrator] [Trustee] pursuant to the Agreement (collectively, the "Servicer Servicing Information"); (2) Based on my knowledge, the Servicer Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Servicer Servicing Information; (3) Based on my knowledge, all of the Servicer Servicing Information required to be provided by the Servicer under the Agreement has been provided to the [Depositor] [Master Servicer] [Securities Administrator] [Trustee]; (4) I am responsible for reviewing the activities performed by the Servicer under the Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Servicer has fulfilled its obligations under the Agreement in all material respects; and (5) The Compliance Statement required to be delivered by the Servicer pursuant to the Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Servicer and by each Subservicer and Subcontractor pursuant to the Agreement have been provided to the [Depositor] [Master Servicer]. Any material instances of noncompliance described in such reports have been disclosed to the [Depositor] [Master Servicer]. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. Date: By:______________________________ Name:____________________________ Title:___________________________ EXHIBIT J FORM OF XXXXXXXX-XXXXX BACK-UP CERTIFICATE I, __________________________, certify to ____________________________, and its officers, directors, agents and affiliates (the "[ ]") , and with the knowledge and intent that they will rely upon this certification, that: (i) Based on my knowledge, the information relating to the Mortgage Loans and the servicing thereof submitted by the Servicer to the [ ] which is used in connection with preparation of the reports on Form 8-K and the annual report on Form 10-K filed with the SEC with respect to the Transaction, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the date of this certification; (ii) The servicing information required to be provided to the [ ] by the Servicer under this Servicing Agreement has been provided to the [ ]; (iii) I am responsible for reviewing the activities performed by the Servicer under the Servicing Agreement and based upon the review required by this Servicing Agreement, and except as disclosed in the Annual Statement of Compliance, the Annual Independent Public Accountant's Servicing Report and all servicing reports, officer's certificates and other information relating to the servicing of the Mortgage Loans submitted to the [ ], the Servicer has, as of the date of this certification fulfilled its obligations under this Servicing Agreement; and (iv) I have disclosed to the [ ] all significant deficiencies relating to the Servicer's compliance with the minimum servicing standards in accordance with a review conducted in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar standard as set forth in the Servicing Agreement. (v) The Servicer shall indemnify and hold harmless the [ ] and its officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Certification or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the [ ], then the Servicer agrees that it shall contribute to the amount paid or payable by the [ ] as a result of the losses, claims, damages or liabilities of the [ ] in such proportion as is appropriate to reflect the relative fault of the [ ] on the one hand and the Servicer on the other in connection with a breach of the Servicer's obligations under this Certification or the Servicer's negligence, bad faith or willful misconduct in connection therewith.

Appears in 1 contract

Samples: Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-3 Trust)

Appears in 1 contract

Samples: Custodial Agreement (Luminent Mortgage Trust 2006-7)

Securities Exchange Act. Unissued checks are safeguarded so as to prevent ~~unauthorized X~~ 1122(d)(2)(vi) unauthorized access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------------- -------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------------- -------------------------------- INVESTOR REMITTANCES AND REPORTING --------------------- -------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the ~~1122(d)(3)(i~~Servicer. --------------------- -------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. --------------------- -------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------------- -------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------- -------------------------------- POOL ASSET ADMINISTRATION --------------------- -------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. --------------------- -------------------------------- Mortgage loan and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements --------------------- -------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. --------------------- -------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. --------------------- -------------------------------- G-2 APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ---------------------------------------------------------------------------------------------------------------- REFERENCE CRITERIA ---------------------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. --------------------- -------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. --------------------- -------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. --------------------- -------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). --------------------- -------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on 1122(d)(4)(ix) the related mortgage loan documents. --------------------- -------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. --------------------- -------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other 1122(d)(4)(xi) number of days specified in the transaction agreements. --------------------- -------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. --------------------- -------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days 1122(d)(4)(xiii) specified in the transaction agreements. --------------------- -------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. --------------------- -------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- [NAME OF THE SERVICER] [NAME OF SUBSERVICER/SUBCONTRACTOR] Date: _________________________ By: ____________________ Name: Title: EXHIBIT H [Date] FORM OF ANNUAL CERTIFICATION Re: The Reconstituted Servicing Agreement dated as of January 1, 2006 (the "Agreement"), by and among Lehman Brothers Holdings Inc., IndyMac Bank, F.S.B. (the "Xxxxxxer") Aurora Loan Services LLC (the "Master Servicer"), and acknowledged by U.S. Bank National Association, as Trustee (the "Trustee"). I, [identify the certifying individual], the [title] of the Servicer, certify to the Trustee, the Master Servicer and Structured Asset Securities Corporation (the "Depositor"), and their officers, with the knowledge and intent that they will rely upon this certification, that: (1) I have reviewed the servicer compliance statement of the Servicer provided in accordance with Item 1123 of Regulation AB (the "Compliance Statement"), the report on assessment of the Company's compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the "Servicing Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange Act") and Item 1122 of Regulation AB (the "Servicing Assessment"), the registered public accounting firm's attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the "Attestation Report"), and all servicing reports, officer's certificates and other information relating to the servicing of the Mortgage Loans by the Servicer during 200[ ] that were delivered by the Servicer to any of the Depositor, the Master Servicer, the Securities Administrator, and the Trustee pursuant to the Agreement (collectively, the "Company Servicing Information"); (2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information; (3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the Depositor, the Master Servicer, the Securities Administrator and the Trustee; (4) I am responsible for reviewing the activities performed by the Servicer as servicer under the Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Servicer has fulfilled its obligations under the Agreement in all material respects; and (5) The Compliance Statement required to be delivered by the Servicer pursuant to the Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Servicer and by any Subservicer or Subcontractor pursuant to the Agreement, have been provided to the Depositor, the Master Servicer, the Securities Administrator and the Trustee. Any material instances of noncompliance described in such reports have been disclosed to the Depositor, the Master Servicer, the Securities Administrator and the Trustee. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports.

Appears in 1 contract

Samples: Servicing Agreement (Lehman Xs Trust Series 2006-2n)

Appears in 1 contract

Samples: Flow Seller's Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-1)

Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days 1122(d)(2)(vii) specified in the transaction agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------- Reports to investors, including those to be 1122(d)(3)(i) filed --------------- ---------------- W-2 Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------ Reference Criteria --------------- --------------------------------------------- ---------------- with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the ~~1122(d)(3)(i~~Servicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of 1122(d)(3)(iii) days specified in the transaction agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan 1122(d)(4)(i) documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or 1122(d)(4)(iii) requirements in the transaction agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ---------------- W-3 Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------ Reference Criteria --------------- --------------------------------------------- ---------------- Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. --------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. --------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements 1122(d)(4)(vi) and related pool asset documents. --------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. --------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed 1122(d)(4)(viii temporary (e.g., illness or unemployment). --------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage 1122(d)(4)(ix) loan documents. --------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the 1122(d)(4)(x) obligor's --------------- ---------------- W-4 Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------ Reference Criteria --------------- --------------------------------------------- ---------------- mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. --------------- ---------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days 1122(d)(4)(xi) specified in the transaction agreements. --------------- ---------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error 1122(d)(4)(xii) or omission. --------------- ---------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii transaction agreements. --------------- ---------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. --------------- ---------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. --------------- --------------------------------------------- ---------------- ------------------------------------------------------------------------------ W-5 [NAME OF MASTER SERVICER] [NAME OF TRUSTEE] [NAME OF CO-TRUSTEE] [NAME OF SUBSERVICER]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J2)

Appears in 1 contract

Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-8t1)

Securities Exchange Act. 1122(d)(2)(vi Unissued checks are safeguarded so as to ) prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the 1122(d)(2)(vii) transaction agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ --------------- ---------------------- Reports to investors, including those to 1122(d)(3)(i) be filed --------------- ---------------------- W-2 -------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria -------------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------------- with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the ~~1122(d)(3)(i)~~Servicer. --------------- ---------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the 1122(d)(3)(iii) transaction agreements. --------------- ---------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------------- Pool Asset Administration --------------- ---------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. --------------- ---------------------- Mortgage loan and related documents are safeguarded as required by the 1122(d)(4)(ii) transaction agreements. --------------- ---------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. --------------- ---------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are 1122(d)(4)(iv) posted to the --------------- ---------------------- W-3

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc11)

Appears in 1 contract

Samples: Omnibus Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)

Securities Exchange Act. Unissued checks are safeguarded so as to ~~prevent unauthorized~~ X X 1122(d)(2)(vi) prevent unauthorized access. ~~-----------------------------------------------------------------------------------------------------------------~~ ------------------- ------------------------------------------- ------------ ----------- ---------------- Reconciliations are prepared on a monthly X X basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------- ------------------------------------------- ------------ ----------- ---------------- INVESTOR REMITTANCES AND REPORTING ------------------- ------------------------------------------- ------------ ----------- ---------------- Reports to investors, including those to X X be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of ~~mortgage loans serviced by the 1122(d)(3)(i~~Pool 1122(d)(3)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-14t2)

Appears in 1 contract

Samples: Master Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)

Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized ~~X 1122(d)(2)(vi)~~ access. ~~-----------------------------------------------------------------------------------------------------------------~~ ---------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the 1122(d)(2)(vii) transaction agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ ---------------- ---------------- Exh. 7-2 APPLICABLE SERVICING SERVICING CRITERIA CRITERIA -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ ---------------- ---------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced 1122(d)(3)(i) by the ~~1122(d)(3)(i~~Servicer. ---------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth 1122(d)(3)(ii) in the transaction agreements. ---------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days 1122(d)(3)(iii) specified in the transaction agreements. ---------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other 1122(d)(3)(iv) form of payment, or custodial bank statements. ---------------- ---------------- Pool Asset Administration ---------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction X 1122(d)(4)(i) agreements or related mortgage loan documents. ---------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction X 1122(d)(4)(ii) agreements ---------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage 1122(d)(4)(iv) loan documents. ---------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ---------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and 1122(d)(4)(vi) related pool asset documents. ---------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. ---------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). ---------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan 1122(d)(4)(ix) documents. ---------------- ---------------- Exh. 7-3 APPLICABLE SERVICING SERVICING CRITERIA CRITERIA -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Investor Remittances and Reporting ---------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ---------------- ---------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ---------------- ---------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. ---------------- ---------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. ---------------- ---------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. ---------------- ---------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. --------------------------------------------------------------------------------

Appears in 1 contract

Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2007-Sd2)

Appears in 1 contract

Samples: Master Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)

Securities Exchange Act. Unissued checks are safeguarded so as to prevent ~~unauthorized~~ X 1122(d)(2)(vi) unauthorized access. ~~-----------------------------------------------------------------------------------------------------------------~~ ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other ~~1122(d)(2)(vii)~~ number of days specified in the transaction 1122(d)(2)(vii) agreements. ~~-----------------------------------------------------------------------------------------------------------------~~ ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ~~-----------------------------------------------------------------------------------------------------------------~~ ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the ~~1122(d)(3)(i~~Servicer. ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------- Pool Asset Administration ------------------------------------------------------------------------------------------------- A-1 2 ------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool X are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. ------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. ------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree X with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's X mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance X plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established 1122(d)(4)(vii) by the transaction agreements. ------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). ------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for X mortgage loans with variable rates are computed based on 1122( d)( 4 )(ix) the related mortgage loan documents. ------------------------------------------------------------------------------------------------- A-1 3

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J8)

Common use of Securities Exchange Act Clause in Contracts